Print revenues are in free-fall, and there doesn’t seem to be a bottom. So the last thing the New York Times Company (NYT) needs is a sharp decline in digital and online ad revenue growth.
But that’s exactly what happened in July:
- Total Internet revenues grew just 2.6% year-over-year, down from 11.7% in June.
- Internet ad revenues grew just 5.5% year-over-year in July, down from 18.6% growth in June.
- Web ad revenues in the News Media Group increased just 0.9% in July, compared to 21.5% growth in June, as “more moderate growth in display advertising was partially offset by continued weakness in online recruitment advertising.”
- Internet revenues accounted for 12.5% of the NYT’s overall revenue in July, down from 13.4% in June.
For what it’s worth, those numbers are still stellar compared to the rest of the company: Total revenues decreased 10.1% year-over-year in July, including 16.2% y/y decline in ad revenues. The New York Times Media Group revenues decreased 15.3%, while New England Media Group revenues dropped 24.5% and Regional Media Group sales dropped 18.1%.
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