The New York Times Company Reports February Revenues

The New York Times Company announced today that in February 2007 advertising revenues from continuing operations decreased 6.0% and total Company revenues from continuing operations decreased 3.6% compared with February 2006.

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

The New York Times Media Group — Advertising revenues for The New York Times Media Group decreased 7.5%. National advertising revenues decreased as weakness in technology products, studio entertainment, banking, national automotive and corporate advertising was offset in part by growth in the book, alcoholic beverage and international fashion categories. Retail advertising revenues decreased as softness in mass market and home furnishing store advertising was offset in part by gains in fine arts and department store advertising. Classified advertising revenues decreased because of weakness in real estate, automotive and help-wanted advertising.

New England Media Group — Advertising revenues for the New England Media Group decreased 4.0%. National advertising revenues increased primarily due to growth in financial services, telecommunications, entertainment and travel advertising. Retail advertising revenues decreased due to the consolidation of the group’s two largest department store advertisers coupled with softness in the furniture/home furnishing and discount store categories. Classified advertising revenues decreased because of weakness in real estate, automotive and help-wanted advertising.

Regional Media Group — Advertising revenues for the Regional Media Group decreased 8.1%. Retail advertising revenues were lower due to weakness in the home furnishing and bank categories. Classified advertising revenues decreased because of weakness in help-wanted, real estate and automotive advertising.

The Internet ad revenues included in the three media groups above rose 14.3% in February due to growth in both display and classified advertising. The timing of recognition of certain advertising revenues in 2006 made for difficult comparisons in the month. Year-to-date Internet revenues at the three media groups increased 20.5%.

TimesSelect, the fee-based product on NYTimes.com that includes The Times’s distinctive columnists and extensive access to its archives, currently has approximately 639,000 subscribers, with about 66% receiving TimesSelect as a benefit of their home-delivery subscriptions and 34% receiving it from online-only subscriptions.

Circulation revenues for February increased 0.5% and were up at The New York Times Media Group and declined at the New England Media and Regional Media Groups.

About.com — Advertising revenues at About.com rose 23.4%. February’s growth was due to increases in both display and cost-per-click advertising. Display advertising increased primarily because of strength in the pharmaceutical, entertainment and technology categories.

In addition, for February 2007, The New York Times Company had the 12th largest presence on the Web, with 38.9 million unique visitors in the United States according to Nielsen//NetRatings.

Discontinued Operations — The Company has entered into an agreement to sell its Broadcast Media Group, which is now classified under discontinued operations.

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, nine network-affiliated television stations, two New York City radio stations and 35 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)

FEBRUARY AND YEAR TO DATE

($ 000′s)

 

 

 

 

 

 

 

 

 

 

 

 

 

February

 

Year to Date

%

%

2007 

2006 

Change

2007 

2006 

Change

Advertising Revenues

News Media

National

$71,894 

$75,216 

-4.4 

$151,486 

$154,587 

-2.0 

Retail

34,175 

35,268 

-3.1 

71,952 

74,458 

-3.4 

Classified

40,937 

47,889 

-14.5 

92,887 

104,091 

-10.8 

Other Ad Revenue

4,924 

4,934 

-0.2 

10,254 

10,121 

+1.3 

Total News Media Group

151,930 

163,307 

-7.0 

326,579 

343,256 

-4.9 

 

About.com

6,656 

5,392 

+23.4 

14,623 

11,898 

+22.9 

 

Total Ad Revenues from Continuing Operations

158,586 

168,699 

-6.0 

341,202 

355,154 

-3.9 

 

Circulation Revenues

68,514 

68,175 

+0.5 

153,527 

151,699 

+1.2 

Other Revenues (b)

19,363 

18,801 

+3.0 

39,767 

37,895 

+4.9 

 

Total Company Revenues from Continuing Operations

$246,463 

$255,675 

-3.6 

$534,495 

$544,748 

-1.9 

 

Discontinued Operations: Broadcast Media Group (c)

10,231 

10,285 

-0.5 

21,553 

20,981 

+2.7 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Numbers may not add due to rounding.

(b) Primarily includes revenues from wholesale delivery operations, news services, digital archives, TimesSelect, Baseline StudioSystems and commercial printing.

(c) On January 3, 2007, we entered into an agreement to sell the Broadcast Media Group.

THE NEW YORK TIMES COMPANY

2007 ADVERTISING REVENUES (a)

FEBRUARY AND YEAR TO DATE

($ 000′s)

 

 

February

 

Year to Date

%

%

2007 

2006 

Change

2007 

2006 

Change

News Media Group

New York Times Media Group

$93,790 

$101,414 

-7.5 

$201,298 

$208,230 

-3.3 

New England Media Group

29,924 

31,184 

-4.0 

64,699 

69,705 

-7.2 

Regional Media Group

28,216 

30,709 

-8.1 

60,582 

65,321 

-7.3 

 

Total News Media Group

151,930 

163,307 

-7.0 

326,579 

343,256 

-4.9 

 

About.com

6,656 

5,392 

+23.4 

14,623 

11,898 

+22.9 

 

Total Ad Revenues from Continuing Operations

$158,586 

$168,699 

-6.0 

$341,202 

$355,154 

-3.9 

 

Discontinued Operations: Broadcast Media Group (b)

10,032 

10,089 

-0.6 

21,091 

20,587 

+2.4 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Numbers may not add due to rounding.

(b) On January 3, 2007, we entered into an agreement to sell the Broadcast Media Group.

 

THE NEW YORK TIMES COMPANY

2007 NEWS MEDIA AD REVENUE GROWTH

BY CLASSIFIED CATEGORY

FEBRUARY AND YEAR TO DATE

 

 

 

% Change 

% Change 

Feb. ’07

YTD ’07

vs. Feb. ’06

 

vs. YTD ’06

 

News Media

Help Wanted

-13.4 

-8.7 

Real Estate

-17.3 

-9.9 

Automotive

-19.3 

-22.1 

 

THE NEW YORK TIMES COMPANY

2007 PRINT ADVERTISING VOLUME (a)

FEBRUARY AND YEAR TO DATE

(Inches in thousands, Preprints in thousands of copies)

 

 

 

February

 

Year to Date

%

%

2007 

2006 

Change

2007 

2006 

Change

National

173.3 

189.4 

-8.5 

365.3 

401.6 

-9.0 

Retail

453.7 

474.5 

-4.4 

977.7 

1,026.0 

-4.7 

Classified

662.7 

759.9 

-12.8 

1,454.3 

1,622.0 

-10.3 

Total ROP

1,289.7 

1,423.8 

-9.4 

2,797.3 

3,049.6 

-8.3 

Part Run/ Zoned

126.6 

154.9 

-18.3 

270.3 

313.0 

-13.6 

 

Total

1,416.4 

1,578.7 

-10.3 

3,067.6 

3,362.6 

-8.8 

 

Preprints

220,110 

207,887 

+5.9 

 

454,339 

463,044 

-1.9 

 

(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.