The New York Times devoted a third of its quarterly conference call to 10% of its business: digital. Analyst Douglas McIntyre at 24/7 Wall Street notes that even this business may not be doing so well:
As the data from Hitwise shows, traffic to the NYTimes.com website has dropped 15% over the last year. In a note from teh audience measurement company: According to Hitwise, the US market share of visits to the NYTimes.com website is down 15% comparing July 2007 versus July 2006. Please note that this figure represents traffic to www.nytimes.com websites and does not include traffic to sub-domains such as movies.nytimes.com. .
The company said In the second quarter, internet revenues grew 23.4 per cent to $80.9 million from $65.6 million in the second quarter of 2006. But, the NYT’s About.com franchise grew more quickly: Total About Group revenues increased 27.0 per cent to $24.7 million from $19.4 million So, growth at the company’s online versions of its print properties was not as strong.
Perhaps the drop in audience at NYTimes.com contributed.