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The New York Times Company Reports Growth in September Revenues

Posted on: Tuesday, 23 October 2007, 09:00 CDT

The New York Times Company announced today that in September total Company revenues from continuing operations increased 5.0% compared with the same month a year ago. Advertising revenues grew 5.5% and circulation revenues rose 4.1%. Advertising revenues for the News Media Group benefited from strong growth in national advertising, which rose 18.9%, and included gains in both print and online advertising. The About Group again posted strong advertising gains in the month, up 39.1%.

All comparisons are for September 2007 to September 2006 unless otherwise noted:

News Media Group: Advertising revenues for the News Media Group increased 4.3%.

The New York Times Media Group - Advertising revenues for The New York Times Media Group increased 11.3%. National advertising revenues rose due to growth in studio entertainment, financial services, international fashion, education and hotel advertising. Retail advertising revenues decreased mainly due to softness in department store, national chain store and home furnishing store advertising. Classified advertising revenues decreased because of weakness in real estate and automotive advertising.

New England Media Group - Advertising revenues for the New England Media Group decreased 3.8%. National advertising revenues increased as growth in banking and studio entertainment advertising offset softer financial services, education and telecommunications advertising. Retail advertising revenues decreased primarily due to weakness in the department store, food/drug, computer/office supply and apparel/footwear categories. Classified advertising revenues decreased because of softness in help-wanted, real estate and automotive advertising.

Regional Media Group - Advertising revenues for the Regional Media Group decreased 12.2%. Retail advertising revenues were down mainly because of decreases in home furnishing, home improvement, department store and telecommunications advertising. Classified advertising revenues decreased due to continued weakness in real estate, help-wanted and automotive advertising.

Overall classified advertising revenues were affected by lower real estate classified advertising. The News Media Group's real estate advertising declined 14.8% in the month, in part due to a nationwide slowdown in real estate. Excluding the real estate category, advertising revenues for the News Media Group would have increased 6.7%. Approximately two-thirds of the Regional Media Group's advertising revenues come from its Florida and California properties, which have been experiencing particular softness in real estate advertising.

Internet advertising revenues included in the News Media Group rose 23.3% in September due to growth in both display and classified advertising.

Circulation revenues for the News Media Group grew 4.1% in September. Revenues were up at The New York Times and Regional Media Groups, and declined at the New England Media Group. In July 2007 The New York Times raised its newsstand and home-delivery prices.

Last month the Company announced that the content previously available through TimesSelect -- including online access to 23 news and opinion columnists, personalization tools and access to the Times archives back to 1987 -- would be available free of charge beginning Sept. 19.

About Group -- Advertising revenues at the About Group (which includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com) rose 39.1%. September's growth was principally due to increases in both display and cost-per-click advertising. Display advertising increased primarily because of strength in the Internet, financial services and retail categories. In addition, advertising revenues reflect the acquisitions of ConsumerSearch.com in May 2007 and UCompareHealthCare.com in March 2007. Excluding these acquisitions, advertising revenues increased 29% in the month.

In addition, The New York Times Company had the 10th largest presence on the Web, with 44.2 million unique visitors in the United States according to Nielsen//NetRatings, up approximately 12% from 39.4 million unique visitors in September 2006. Also according to Nielsen//NetRatings, NYTimes.com had 14.7 million unique visitors and was the No. 1 newspaper Web site in the United States, a position it has long held.

The New York Times Company (NYSE: NYT), 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

THE NEW YORK TIMES COMPANY

2007 TOTAL COMPANY REVENUES (a)

($ 000's)

September

Year to Date

%

%

2007

2006

Change

2007

2006

Change

Advertising Revenues

News Media

National

$94,102

$79,116

+18.9

$662,056

$644,659

+2.7

Retail

34,748

38,893

-10.7

314,180

337,452

-6.9

Classified

39,960

43,962

-9.1

387,735

446,228

-13.1

Other Ad Revenue

5,176

4,830

+7.2

46,237

46,069

+0.4

Total News Media Group

173,986

166,802

+4.3

1,410,208

1,474,408

-4.4

About Group(b)

7,878

5,663

+39.1

68,216

53,196

+28.2

Total Ad Revenues from Continuing Operations

181,864

172,464

+5.5

1,478,425

1,527,604

-3.2

Circulation Revenues

70,554

67,779

+4.1

664,538

654,993

+1.5

Other Revenues(c)

21,115

20,189

+4.6

186,359

175,822

+6.0

Total Company Revenues from Continuing Operations

$273,534

$260,432

+5.0

$2,329,322

$2,358,419

-1.2

Discontinued Operations: Broadcast Media Group (d)

0

13,023

N/A

46,702

107,542

N/A

(a) Numbers may not add due to rounding.

(b) Includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com.

(c) Primarily includes revenues from wholesale delivery operations, news services/syndication, digital archives, TimesSelect, Baseline Studio Systems, rental income and commercial printing.

(d) On May 7, 2007, the Company sold the Broadcast Media Group, consisting of nine network-affiliated television stations, their related Web sites and the digital operating center, for approximately $575 million.

THE NEW YORK TIMES COMPANY

2007 TOTAL COMPANY REVENUES (a)

($ 000's)

Third Quarter

%

2007

2006

Change

Advertising Revenues

News Media

National

$212,910

$192,002

+10.9

Retail

97,191

104,874

-7.3

Classified

117,157

136,890

-14.4

Other Ad Revenue

14,423

14,250

+1.2

Total News Media Group

441,681

448,015

-1.4

About Group(b)

23,362

17,461

+33.8

Total Ad Revenues from Continuing Operations

465,043

465,476

-0.1

Circulation Revenues

223,420

215,007

+3.9

Other Revenues(c)

65,896

59,103

+11.5

Total Company Revenues from Continuing Operations

$754,359

$739,586

+2.0

Discontinued Operations: Broadcast Media Group (d)

0

36,476

N/A

(a) Numbers may not add due to rounding.

(b) Includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com.

(c) Primarily includes revenues from wholesale delivery operations, news services/syndication, digital archives, TimesSelect, Baseline Studio Systems, rental income and commercial printing.

(d) On May 7, 2007, the Company sold the Broadcast Media Group, consisting of nine network-affiliated television stations, their related Web sites and the digital operating center, for approximately $575 million.

THE NEW YORK TIMES COMPANY

2007 ADVERTISING REVENUES (a)

($ 000's)

September

Year to Date

%

%

2007

2006

Change

2007

2006

Change

News Media Group

New York Times Media Group

$116,753

$104,853

+11.3

$867,774

$885,509

-2.0

New England Media Group

32,577

33,854

-3.8

289,414

307,569

-5.9

Regional Media Group

24,657

28,095

-12.2

253,020

281,330

-10.1

Total News Media Group

173,986

166,802

+4.3

1,410,208

1,474,408

-4.4

About Group (b)

7,878

5,663

+39.1

68,216

53,196

+28.2

Total Ad Revenues from Continuing Operations

$181,864

$172,464

+5.5

$1,478,425

$1,527,604

-3.2

Discontinued Operations: Broadcast Media Group (c)

0

12,724

N/A

45,745

105,669

N/A

(a) Numbers may not add due to rounding.

(b) Includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com.

(c) On May 7, 2007, the Company sold the Broadcast Media Group, consisting of nine network-affiliated television stations, their related Web sites and the digital operating center, for approximately $575 million.

THE NEW YORK TIMES COMPANY

2007 ADVERTISING REVENUES (a)

($ 000's)

Third Quarter

%

2007

2006

Change

News Media Group

New York Times Media Group

$271,234

$261,653

+3.7

New England Media Group

91,838

97,424

-5.7

Regional Media Group

78,609

88,938

-11.6

Total News Media Group

441,681

448,015

-1.4

About Group (b)

23,362

17,461

+33.8

Total Ad Revenues from Continuing Operations

$465,043

$465,476

-0.1

Discontinued Operations: Broadcast Media Group (c)

0

35,807

N/A

(a) Numbers may not add due to rounding.

(b) Includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com.

(c) On May 7, 2007, the Company sold the Broadcast Media Group, consisting of nine network-affiliated television stations, their related Web sites and the digital operating center, for approximately $575 million.

THE NEW YORK TIMES COMPANY

2007 NEWS MEDIA AD REVENUE GROWTH

BY CLASSIFIED CATEGORY

% Change

% Change

% Change

Sept. '07

Q3 '07

YTD '07

vs. Sept. '06

vs. Q3 '06

vs. YTD '06

Help Wanted

-10.7

-15.2

-12.0

Real Estate

-14.8

-20.8

-18.4

Automotive

-15.4

-16.7

-16.9

Other

+29.0

+14.7

+10.0

Total

-9.1

-14.4

-13.1

THE NEW YORK TIMES COMPANY

2007 PRINT ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

September

Year to Date

%

%

2007

2006

Change

2007

2006

Change

National

209.6

190.6

+9.9

1,567.9

1,663.0

-5.7

Retail

422.8

486.3

-13.1

4,202.8

4,543.2

-7.5

Classified

558.7

724.3

-22.9

6,127.4

7,210.2

-15.0

Total ROP

1,191.0

1,401.3

-15.0

11,898.2

13,416.4

-11.3

Part Run/ Zoned

139.3

151.7

-8.2

1,250.9

1,458.5

-14.2

Total

1,330.3

1,553.0

-14.3

13,149.0

14,875.0

-11.6

Preprints

201,940

218,454

-7.6

1,994,956

2,060,764

-3.2

(a) Advertising volume is based on preliminary internal data, which may be updated in subsequent reports and may not be indicative of advertising revenue or operating profit. Numbers may not add due to rounding.

THE NEW YORK TIMES COMPANY

2007 PRINT ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

Third Quarter

%

2007

2006

Change

National

495.3

497.0

-0.3

Retail

1,314.2

1,446.0

-9.1

Classified

1,795.6

2,350.4

-23.6

Total ROP

3,605.1

4,293.4

-16.0

Part Run/ Zoned

386.9

442.7

-12.6

Total

3,992.0

4,736.2

-15.7

Preprints

641,558

657,709

-2.5

(a) Advertising volume is based on preliminary internal data, which may be updated in subsequent reports and may not be indicative of advertising revenue or operating profit. Numbers may not add due to rounding.

Source: Business Wire

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