NYTCO December Revs Fall 9 Percent; Internet Revs Fall 12.3 Percent
This story was written by David Kaplan.
Ahead of its earnings report later this morning, the New York Times Co (NYSE: NYT). said revenues fell 9.1 percent compared with the same month a year ago, while ad revenues dropped 15.7 percent. It did have one piece of good news, as circulation revenues grew a slight 3 percent.
Internet revs: Internet ad revenues included in the News Media Group fell 12.3 percent in December, as the NYTCo cited weakness in both display and online classified advertising. In Q4, internet advertising revenues included in the News Media Group were down 3.2 percent compared with the Q407, as declines in the online classified categories offset modest growth in display advertising. For the year, online ad revenues included in the News Media Group were up 8.7 percent compared with 2007, as growth in display advertising offset declines in online held wanted.
About Group: Advertising revenues at the usually strong About Group dropped 13.2 percent in December because of declines in display and cost-per-click advertising. For the 2008 full year, ad revenues at the About Group increased 10.4% compared with the same period in 2007, as growth in cost-per-click advertising offset modest declines in display advertising. More to come
Release
By David Kaplan