NYT Feb Revenue Slightly Less Awful

Advertising revenue at the New York Times (NYT) dropped 7% in February–ghastly, but less bad than January and December in which revenue plummeted 9% and 12%, respectively.

Internet revenue in the news group (newspapers) accelerated slightly, to 14% from 9% in January. This is positive, but the growth rate is still a far cry from last year’s 20%+.

Revenue at About.com, NYTCO’s only real growth engine, decelerated to 20% from 25% in January and 35% in 2007. This deceleration will likely increase calls for the NYT to sell About.com, especially now that two dissident shareholders will likely be joining the board.

Advertising at the NYT group decreased a less-severe 4%. National ads increased, largely as a result of strength in fashion. This was offset by retail and classified weakness:

Retail advertising revenues decreased mainly due to softness in department store, fine arts and mass market advertising. Classified advertising revenues decreased because of weakness in help-wanted, real estate and automotive advertising.

 

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.