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The New York Times Company Reports March Revenues

Posted on: Thursday, 19 April 2007, 09:00 CDT

The New York Times Company announced today that in March 2007 advertising revenues from continuing operations decreased 2.3% and total Company revenues from continuing operations decreased 1.1% compared with March 2006.

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

The New York Times Media Group -- Advertising revenues for The New York Times Media Group decreased 3.7%. National advertising revenues increased slightly as growth in American fashion, international fashion, home furnishing manufacturers and alcoholic beverage advertising offset weakness in the telecommunications, media, financial services and technology products categories. Retail advertising revenues decreased as softness in fashion/jewelry, department store, mass market and sports marketing advertising was offset in part by strong gains in fine arts 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 rose 2.2%. Advertising revenue benefited from the timing of Easter, in that the Sunday before the holiday was in April in 2006 and in March in 2007, and retail advertising is usually strong on that Sunday, particularly for preprints. National advertising revenues increased mainly because of growth in telecommunications, banking, travel, pharmaceutical/packaged goods and club/concert advertising. Retail advertising revenues decreased due to the consolidation of the group's two largest department store advertisers coupled with softness in the electronics/appliances and computer/office supply 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 6.8%. Retail advertising revenues increased slightly as growth in specialty store, media, hospital and grocery advertising offset weakness in the bank, telecommunications and home furnishing 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 19.8% in March due to growth in both display and classified advertising.

TimesSelect, the fee-based product on NYTimes.com that includes The Times's distinctive columnists and extensive access to its archives, currently has approximately 713,000 subscribers with about 62% receiving TimesSelect as a benefit of their home-delivery subscriptions, 30% receiving it from online-only subscriptions and 8% receiving it free as college students and educators.

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

About.com -- Advertising revenues at About.com rose 24.3%. March's growth was due to increases in both display and cost-per-click advertising. Display advertising increased primarily because of strength in the Internet media, financial services and pharmaceutical categories.

In addition, for March 2007, The New York Times Company had the 12th largest presence on the Web, with 43.5 million unique visitors in the United States according to Nielsen//NetRatings, up 12% from 39.0 million unique visitors in March 2006.

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.

THE NEW YORK TIMES COMPANY

2007 TOTAL COMPANY REVENUES (a)

($ 000's)

March

Year to Date

%

%

2007 

2006 

Change

2007 

2006 

Change

Advertising Revenues

News Media

National

$73,416 

$70,871 

+3.6 

$224,902 

$225,458 

-0.2 

Retail

35,397 

36,462 

-2.9 

107,349 

110,920 

-3.2 

Classified

43,220 

49,917 

-13.4 

136,107 

154,007 

-11.6 

Other Ad Revenue

4,982 

4,892 

+1.9 

15,236 

15,012 

+1.5 

Total News Media Group

157,016 

162,142 

-3.2 

483,594 

505,397 

-4.3 

About.com

6,698 

5,390 

+24.3 

21,321 

17,288 

+23.3 

Total Ad Revenues from Continuing Operations

163,714 

167,532 

-2.3 

504,915 

522,685 

-3.4 

Circulation Revenues

68,928 

68,582 

+0.5 

222,454 

220,281 

+1.0 

Other Revenues (b)

18,884 

18,335 

+3.0 

58,651 

56,231 

+4.3 

Total Company Revenues from Continuing Operations

$251,525 

$254,449 

-1.1 

$786,020 

$799,197 

-1.6 

Discontinued Operations: Broadcast Media Group (c)

11,351 

10,973 

+3.4 

32,904 

31,954 

+3.0 

(a) Numbers may not add due to rounding.

(b) Primarily includes revenues from wholesale delivery operations, news services/syndication, 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)

($ 000's)

March

Year to Date

%

%

2007 

2006 

Change

2007 

2006 

Change

News Media Group

New York Times Media Group

$95,849 

$99,581 

-3.7 

$297,146 

$307,811 

-3.5 

New England Media Group

32,543 

31,832 

+2.2 

97,242 

101,537 

-4.2 

Regional Media Group

28,623 

30,728 

-6.8 

89,206 

96,049 

-7.1 

Total News Media Group

157,016 

162,142 

-3.2 

483,594 

505,397 

-4.3 

About.com

6,698 

5,390 

+24.3 

21,321 

17,288 

+23.3 

Total Ad Revenues from Continuing Operations

$163,714 

$167,532 

-2.3 

$504,915 

$522,685 

-3.4 

Discontinued Operations: Broadcast Media Group (b)

11,138 

10,733 

+3.8 

32,229 

31,321 

+2.9 

(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

% Change 

% Change 

Mar. '07

YTD '07

vs. Mar. '06

vs. YTD '06

Help Wanted

-14.7 

-10.6 

Real Estate

-19.7 

-13.3 

Automotive

-12.4 

-19.0 

Other

+14.5 

+4.1 

Total

-13.4 

-11.6 

THE NEW YORK TIMES COMPANY

2007 PRINT ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

March

Year to Date

%

%

2007 

2006 

Change

2007 

2006 

Change

National

182.0 

180.0 

+1.1 

547.2 

581.7 

-5.9 

Retail

469.5 

481.1 

-2.4 

1,447.2 

1,507.0 

-4.0 

Classified

692.4 

754.5 

-8.2 

2,146.7 

2,376.5 

-9.7 

Total ROP

1,343.8 

1,415.6 

-5.1 

4,141.1 

4,465.2 

-7.3 

Part Run/ Zoned

135.9 

147.4 

-7.8 

406.2 

460.5 

-11.8 

Total

1,479.7 

1,563.0 

-5.3 

4,547.3 

4,925.6 

-7.7 

Preprints

235,203 

223,106 

+5.4 

689,543 

686,150 

+0.5 

(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.

This press release can be downloaded from www.nytco.com

Source: Business Wire

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