By: E&P Staff
Dow Jones & Co. reported today that advertising revenue at its flagship paper The Wall Street Journal grew 5.7% in January on a 7.5% increase in volume. The results are compared to the same period a year ago.
Financial and general advertising were strong while technology and classified advertising declined. Financial advertising volume rose 25.4% on gains in wholesale, tombstone, and retail advertising. General volume advanced 14.1% on increases in consumer electronics, travel, luxury goods, healthcare, and media.
Technology advertising volume dropped 8.6% and classified advertising volume slipped 1% due mostly to softness in the real estate category.
In a note released by Wachovia Equity Research analyst John Janedis wrote that results at the Journal were below expectations as “we expected a low-double-digit increase in linage and positive yield in the month.”
At Ottaway newspapers, now reported under the local media group, ad revenue fell 6.2% on an 8.4% decline in volume in January. The results are based on a same-property basis. Preprint ad revenue declined 17.3%, non-daily ad revenue was down 14.3%, and classified ad revenue dropped 7.1%. Online revenue grew 15.6% and display ad revenue was up 0.4%.