NYT Co. Reports Declining Ad Revenue on Weakness at New England/Regional

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By: E&P Staff

Advertising revenue at The New York Times Co. fell 2.1% in January compared to the same period a year ago. Total company revenue dropped 0.4%.

The company’s CEO Janet Robinson attributed the revenue decline to a “challenging” ad environment especially the classified category.

For the News Media Group, advertising revenue dropped 2.9% to $174.6 million. National advertising grew 0.3% to $79.5 million. Retail dropped 3.6% to $37.7 million. Classified advertising declined 7.6% to $51.9 million.

Revenue at About.com increased 22.5% to $7.9 million.

Circulation revenue rose 1.8% to $85 million.

Robinson said in a statement the New York Times Media Group, which includes the company’s flagship, improved slightly in January. For that group, ad revenue inched up 0.6% to $107 million. National advertising grew on strength in the financial services, advocacy, hotel, international fashion and book categories. Retail and classified advertising revenue at the group fell.

At the New England Media Group, advertising revenue plummeted 9.7% to $34.7 million on weakness in all three major categories.

Advertising revenue at the Regional Media Group decreased 6.5% to $32.3 million on declines in the retail and classified category.

The company said that TimesSelect has approximately 627,000 subscribers for January with about 66% receiving the TimesSelect as a benefit of home-delivery subscriptions and 34% receiving it from online-only subscriptions.

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