By: E&P Staff Luxury goods, auto, healthcare, and professional services advertising helped boost overall lineage at The Wall Street Journal, up 4.7% for August (but down, 0.1% on a per issue basis). The paper suffered declines in technology and retail advertising. Year-to-date lineage at the Journal was up 3.3%.
August may have been a kind month to the Journal, but September is going to be far tougher. Rich Zannino, executive vice president and COO of Dow Jones & Co., said in a statement, "Through the first two months of the third quarter (July and August), advertising revenue at The Wall Street Journal was in line with our original outlook and revenue per page was well above... However, at this time, these favorable trends are more than offset by September advertising reservations at the Journal, which are below expectations and last September, due mainly to weak technology, travel, and general B2B bookings."
Dow Jones is lowering its outlook for Q3 and expects advertising lineage to decline at the Journal in the "mid-to-upper single digit percentage range," according to Zannino.
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