That’s an improvement from June’s 6.5% drop, but, unfortunately, it’s still awful. Other news:
- Revenue at the online newspaper properties rose 19%. Nice, but a deceleration from June’s 22%.
- National advertising actually rose! Up 2.4%! Sadly, also a deceleration from June.
- So did circulation revenue! Up 4%!
- New England (read: Boston Globe) ad revenue dropped 5%
- Regional ads dropped 11%
- Classified ads dropped 14% (Hey, better than June’s 17% drop)
- About.com revenue jumped 34%. Nice, and a significant acceleration from June’s 24%.
- TimesSelect paying subs who don’t get the print paper crawled up to 225,000 from 221,000.
- Web uniques to all the company’s properties hit a nice 45 million, up 25% from 36 million last year. We don’t want to rain on that impressive parade, but these 45mm uniques are only generating about $380 million in annual revenue–about $8 apiece.
The New York Times Company Reports July Revenues
Thursday August 16, 9:00 am ET
NEW YORK–(BUSINESS WIRE)–The New York Times Company announced today that in July 2007 advertising revenues from continuing operations decreased 3.5% and total Company revenues from continuing operations increased 0.1% compared with July 2006.
All comparisons are for July 2007 to July 2006 unless otherwise noted:
News Media Group: Advertising revenue for the News Media Group decreased 5.0%.
The New York Times Media Group - Advertising revenues for The New<br /> York Times Media Group decreased 2.9%. National advertising<br /> revenues increased as growth in studio entertainment, corporate<br /> and hotel advertising offset weakness in the technology products,<br /> telecommunications and financial services categories. Retail<br /> advertising revenues decreased mainly due to softness in the<br /> general retail and national retail categories. Classified<br /> advertising revenues decreased because of weakness in real estate,<br /> help-wanted and automotive advertising.<br /><br /> New England Media Group - Advertising revenues for the New England<br /> Media Group decreased 4.9%. National advertising revenues rose as<br /> strength in telecommunications, entertainment advertising,<br /> particularly for motion pictures, and banking advertising offset<br /> weakness in the national automotive, travel and<br /> pharmaceutical/packaged goods categories. Retail advertising<br /> revenues decreased largely due to softness in food/drug,<br /> department store and computer/office supply advertising.<br /> Classified advertising revenues decreased because of weakness in<br /> real estate, help-wanted and automotive advertising.<br /><br /> Regional Media Group - Advertising revenues for the Regional Media<br /> Group decreased 10.9%. Retail advertising revenues decreased<br /> mainly because of softness in home furnishing, home improvement<br /> and department store advertising. Classified advertising revenues<br /> decreased due to weakness in real estate, help-wanted and<br /> automotive advertising.
The Internet ad revenues included in the News Media Group rose 19.3% in July due to growth in both display and classified advertising.
Circulation revenues for the News Media Group grew 4.0% in July. Revenues were up at The New York Times Media Group, increased slightly at the Regional Media Group and declined at the New England Media Group. In July The New York Times raised its newsstand and home-delivery prices.
TimesSelect, the fee-based product on NYTimes.com that includes The Times’s distinctive columnists and extensive access to its archives, currently has approximately 771,400 subscribers with 462,800 receiving TimesSelect as a benefit of their home-delivery subscriptions, 225,100 receiving it from online-only subscriptions and 83,500 receiving it free as college students and educators.
About Group – Advertising revenues at the About Group (which includes About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com) rose 34.7%. July’s growth was due to increases in both display and cost-per-click advertising. In addition, advertising revenues reflect the acquisitions of ConsumerSearch.com in May 2007 and UCompareHealthCare.com in March 2007. Display advertising increased primarily because of strength in the Internet, financial services and pharmaceutical categories.
In addition, for July 2007, The New York Times Company had the 10th largest presence on the Web, with 44.7 million unique visitors in the United States according to Nielsen//NetRatings, up approximately 25% from 35.7 million unique visitors in July 2006.
The New York Times Company (NYSE: NYT – News), a leading media company with 2006 revenues of $3.3 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers, WQXR-FM and more than 30 Web sites, including NYTimes.com, Boston.com and About.com. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.
This press release can be downloaded from www.nytco.com