By: E&P Staff July advertising revenue at The New York Times Co. fell 16.2%, pushed by classified sales that plunged 30%, the company reported Tuesday.
Total revenue from continuing operations dropped 10.1% compared with July 2007.
News Media Group advertising revenue was off 17.9%, mostly on weak print results, the Times Co. said. Every unit of the newspaper division reported across-the-board advertising weakness, with softness especially in the classified categories of real estate, help-wanted, and automotive.
Ad revenue at The New York Times Media Group, including its flagship daily, fell 15.3% on across-the-board decreases.
At the New England Media Group, which includes The Boston Globe, ad revenue was down even bigger, falling 24.5%.
The Times Co.'s Regional Media Group, including papers in the very troubled Florida market, reported ad revenues fell 18.1%.
Internet advertising revenues included in the News Media Group increased by less than one percent, nudging up 0.9% "as more moderate growth in display advertising was partially offset by continued weakness in online recruitment advertising," the Times Co. said. It added that to date in August online advertising "is trending up in the low double digits as display advertising at NYTimes.com has improved."
Advertising revenue at the About Group -- including the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com -- rose 14.6%, the company reported, mainly on growth in cost-per-click advertising.
Total Internet revenue grew 2.6%, with Internet advertising revenue up 5.5% in July.
Advertising revenues at the About Group (which includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com) rose 14.6% mainly due to growth in cost-per-click advertising.
Circulation revenue fell 0.5% for the month.
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