By: E&P Staff The New York Times Company announced today that total revenues from continuing operations increased 5.0% in September compared with the same month a year ago. Advertising revenues grew 5.5% and circulation revenues rose 4.1%, it said. Online was a big help, with a 23% boost year-over-year, but sinking classified hurt. Ad revenue declined at the New England and Regional groups.
Circulation revenue was up, after a price increase.
Advertising revenues for the News Media Group "benefited from strong growth in national advertising," which rose 18.9%, and included gains in both print and online advertising, the release stated. The About Group again posted strong advertising gains in the month, up 39.1%.
The release got into specifics, as follows.
*
The New York Times Media Group ? Advertising revenues for The New York Times Media Group increased 11.3%. National advertising revenues rose due to growth in studio entertainment, financial services, international fashion, education and hotel advertising. Retail advertising revenues decreased mainly due to softness in department store, national chain store and home furnishing store advertising. Classified advertising revenues decreased because of weakness in real estate and automotive advertising.
New England Media Group ? Advertising revenues for the New England Media Group decreased 3.8%. National advertising revenues increased as growth in banking and studio entertainment advertising offset softer financial services, education and telecommunications advertising. Retail advertising revenues decreased primarily due to weakness in the
department store, food/drug, computer/office supply and apparel/footwear categories. Classified advertising revenues decreased because of softness in help-wanted, real estate and automotive advertising.
Regional Media Group ? Advertising revenues for the Regional Media Group decreased 12.2%. Retail advertising revenues were down mainly because of decreases in home furnishing, home improvement, department store and telecommunications advertising. Classified advertising revenues decreased due to continued weakness in real estate, help-wanted and automotive advertising.
Overall classified advertising revenues were affected by lower real estate classified advertising. The News Media Group?s real estate advertising declined 14.8% in the month, in part due to a nationwide slowdown in real estate. Excluding the real estate category, advertising revenues for the News Media Group would have increased 6.7%. Approximately two-thirds of the Regional Media Group?s advertising revenues come from its Florida and California properties, which have been experiencing particular softness in
real estate advertising.
Internet advertising revenues included in the News Media Group rose 23.3% in September due to growth in both display and classified advertising.
Circulation revenues for the News Media Group grew 4.1% in September. Revenues were up at The New York Times and Regional Media Groups, and declined at the New England Media Group. In July 2007 The New York Times raised its newsstand and home-delivery prices.
Comments
No comments on this item Please log in to comment by clicking here