By: E&P Staff
The New York Times Co. said Wednesday its May revenue from continuing operations fell 6.6% compared with last year, with much of the decline stemming from a 13.2% dip in print ad sales.
Overall advertising revenue declined 11.9%, while circulation revenue inched up 1.9%. Classified advertising across all operations plunged 24.8%, the Times Co. said.
As in past months, the company’s New England Media Group, including The Boston Globe, was the weakest performer, with ad revenues off 17.7%. Retail ad revenue was down chiefly because of weakness in home furnishing, home improvement, jewelry/watches, department store and apparel/footwear advertising, the Times Co. said. “Classified advertising revenues decreased due to continued softness in help-wanted, real estate and automotive advertising,” the company said.
Ad revenue was down 11.5% at its New York Times Media Group, including the flagship New York Times newspaper. The real estate crunch affected both retail and classified categories.
At the company’s Regional Media Group ad revenue fell 14.2%.
Internet advertising revenue at the newspaper groups rose 14.2%, mostly on growth in display advertising.
The Times Co. said its About group of Web sites had an increase of 13.7% on what it said was strong growth in cost-per-click advertising.