The New York Times Company Reports January Revenues
The New York Times Company announced today that in January total Company revenues from continuing operations decreased 5.5% compared with the same month a year ago. Advertising revenues decreased 9.8% and circulation revenues increased 1.6%. The About Group again posted strong advertising growth in the month, up 24.7%.
All comparisons are for January 2008 to January 2007 unless otherwise noted:
News Media Group: Advertising revenues for the News Media Group decreased 11.4% mainly because of weaker classified advertising.
The New York Times Media Group – Advertising revenues for The New York Times Media Group decreased 10.1%. National advertising revenues decreased as weakness in telecommunications, technology products, transportation and advocacy offset growth in the financial services and media categories. Retail advertising revenues decreased mainly due to softness in home furnishing store, direct electronics and mass market advertising. Classified advertising revenues decreased because of weakness in real estate, help-wanted and automotive advertising.
New England Media Group – Advertising revenues for the New England Media Group decreased 11.4%. National advertising revenues increased as growth in banking and pharmaceutical/packaged goods advertising offset weakness in the travel and financial services categories advertising. Retail advertising revenues decreased primarily due to weakness in home improvement, computer/office supplies and furniture/home furnishings advertising. 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 15.8%. Retail advertising revenues were down mainly because of decreases in the home furnishings, banking/financial services and telecommunications categories. Classified advertising revenues decreased due to continued weakness in help-wanted, real estate and automotive advertising.
Internet advertising revenues included in the News Media Group rose 8.6% due to growth in display advertising.
Circulation revenues for the News Media Group increased 1.6%. Revenues increased at The New York Times Media Group, and decreased at the New England and Regional Media Groups.
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 24.7%. January’s growth was due to increases in both cost-per-click and display advertising. Display advertising increased primarily because of strength in the Internet, technology and leisure 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 about 17%.
In addition, The New York Times Company had the 10th largest presence on the Web, with 51.6 million unique visitors in the United States according to Nielsen Online, up approximately 21% from 42.6 million unique visitors in January 2007. Also according to Nielsen Online, NYTimes.com had 20.5 million unique visitors in January 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 2007 revenues of $3.2 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers, WQXR-FM and more than 50 Web sites, including NYTimes.com, Boston.com and About.com. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.
This press release can be downloaded from www.nytco.com.
THE NEW YORK TIMES COMPANY
2008 TOTAL COMPANY REVENUES (a)
($ 000′s)
January
%
2008
2007
Change
Advertising Revenues
News Media
National
$75,718
$79,592
-4.9
Retail
33,435
37,777
-11.5
Classified
40,224
51,950
-22.6
Other Ad Revenue
5,323
5,329
-0.1
Total News Media Group
154,700
174,648
-11.4
About Group (b)
9,932
7,967
+24.7
Total Ad Revenues from Continuing Operations
164,632
182,616
-9.8
Circulation Revenues
86,375
85,012
+1.6
Other Revenues (c)
21,324
20,404
+4.5
Total Company Revenues from Continuing Operations
$272,331
$288,032
-5.5
Discontinued Operations: Broadcast Media Group (d)
0
11,322
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, commercial printing, advertising service revenue, digital archives, TimesSelect (for periods before October 2007), Baseline StudioSystems and rental income.
(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 $575 million.
THE NEW YORK TIMES COMPANY
2008 ADVERTISING REVENUES (a)
($ 000′s)
January
%
2008
2007
Change
News Media Group
New York Times Media Group
$96,638
$107,507
-10.1
New England Media Group
30,801
34,775
-11.4
Regional Media Group
27,261
32,366
-15.8
Total News Media Group
154,700
174,648
-11.4
About Group (b)
9,932
7,967
+24.7
Total Ad Revenues from Continuing Operations
$164,632
$182,616
-9.8
Discontinued Operations: Broadcast Media Group (c)
0
11,060
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
2008 NEWS MEDIA AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
% Change
Jan. ’08
vs. Jan. ’07
Help Wanted
-31.9
Real Estate
-25.9
Automotive
-16.2
Other
+7.2
Total Classified
-22.6