By: Jennifer Saba As E&P went to press, summer had drawn to a close and news-papers were busy rolling out August results. Gannett, McClatchy, and The New York Times Co. all reported double-digit ad revenue losses for the month. But on the (narrow) plus side, advertising revenue was sequentially better than July's for some companies.
More interesting was online revenue, where some recent studies had found a general flattening. Gannett, which reported that ad revenue at its newspaper division fell 16.8%, did not break out its online results. The New York Times Co.'s ad revenue dropped 14.1%, but Internet ad revenue was up 10.9%.
McClatchy announced that ad revenue in August decreased 17.8% ? but online revenue grew 7.4%. In August, the company grew its online ad revenue in every category except recruitment. Online retail was up 70.3%. National grew 140%. Auto and real estate were up 31.3% and 13.1% respectively, on heavy exposure in California and Florida. Help-wanted fell 7.2% ? which is troubling because it represents the biggest chunk of online ad revenue, at more than 50%.
Still, McClatchy continued a vigorous buyout plan and the company cut 16 from its Interactive division as part of the latest 10% reduction company-wide.
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