NEW YORK--(BUSINESS WIRE)--April 17, 2008--The New York Times
Company announced today that in March total Company revenues from
continuing operations decreased 6.4% compared with the same month a
year ago. Advertising revenues decreased 11.1% and circulation
revenues increased 1.7%. The About Group again posted strong
advertising growth in the month, up 22.4%.
As expected, the Company's results for March were adversely
affected by the timing of Easter. Easter Sunday, which fell in March
this year, but was in April last year, is traditionally a time of
reduced advertising at both The New York Times and The Boston Globe.
All comparisons are for March 2008 to March 2007 unless otherwise
noted:
News Media Group: Advertising revenues for the News Media Group
decreased 12.5% mainly because of weaker classified advertising.
The New York Times Media Group - Advertising revenues for The New
York Times Media Group decreased 6.0%. National advertising
revenues decreased as weakness in the transportation,
telecommunications, healthcare, packaged goods, studio
entertainment and national automotive categories offset triple-
digit growth in financial services advertising. Retail
advertising revenues decreased mainly due to softness in home
furnishings, cosmetic manufacturers and department store
advertising. Classified advertising revenues decreased because of
weakness in real estate, help-wanted and automotive advertising.
Real estate advertising was adversely affected by a shift in the
timing of KEY Magazine, which was published in April this year
but appeared in March last year.
New England Media Group - Advertising revenues for the New England
Media Group decreased 25.9% in March 2008 compared with growth of
2.2% in March 2007. National advertising revenues were lower
mainly because of decreases in the travel, banking,
telecommunications, financial services and national automotive
categories. Retail advertising revenues decreased primarily due
to weakness in home improvement, home furnishings,
jewelry/watches, sports/toys and food/drug advertising.
Classified advertising revenues decreased because of continued
softness in real estate, help-wanted and automotive advertising.
Regional Media Group - Advertising revenues for the Regional Media
Group decreased 19.4%. Retail advertising revenues were down
mainly because of decreases in the home furnishings,
banking/financial services, medical/dental and telecommunications
categories. Classified advertising revenues decreased due to
continued weakness in real estate, help-wanted and automotive
advertising.
Internet advertising revenues included in the News Media Group
rose 14.8% due to growth in display advertising.
Circulation revenues for the News Media Group increased 1.7%.
Revenues increased at The New York Times and the Regional Media
Groups, and decreased at the New England Media Group.
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 22.4% due to growth
in cost-per-click advertising. In addition, advertising revenues
reflect the acquisition of ConsumerSearch.com in May 2007. Excluding
acquisitions, advertising revenues increased approximately 15%.
In addition, The New York Times Company had the 11th largest
presence on the Web, with 50.4 million unique visitors in the United
States in March 2008 according to Nielsen Online, up approximately 16%
from 43.5 million unique visitors in March 2007. Also according to
Nielsen Online, NYTimes.com had 18.9 million unique visitors in March
versus 14.5 million in March 2007, up about 30%, 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)
----------------------------------------------------------------------
March Year to Date
-------------------------------------------------
% %
2008 2007 Change 2008 2007 Change
-------- -------- ------ -------- -------- ------
Advertising Revenues
News Media
National $68,927 $73,416 -6.1 $216,441 $224,902 -3.8
Retail 31,270 35,397 -11.7 95,427 107,349 -11.1
Classified 32,117 43,220 -25.7 105,319 136,107 -22.6
Other Ad Revenue 5,001 4,982 +0.4 14,972 15,236 -1.7
-------- -------- ------ -------- -------- ------
Total News Media
Group 137,316 157,016 -12.5 432,159 483,594 -10.6
About Group (b) 8,200 6,698 +22.4 26,180 21,321 +22.8
-------- -------- ------ -------- -------- ------
Total Ad Revenues
from Continuing
Operations 145,516 163,714 -11.1 458,339 504,915 -9.2
Circulation Revenues 70,116 68,928 +1.7 226,629 222,454 +1.9
Other Revenues (c) 19,732 18,884 +4.5 62,887 58,651 +7.2
-------- -------- ------ -------- -------- ------
Total Company
Revenues from
Continuing
Operations $235,364 $251,525 -6.4 $747,855 $786,020 -4.9
======== ======== ====== ======== ======== ======
Discontinued
Operations:
Broadcast Media
Group (d) 0 11,351 N/A 0 32,904 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,
commercial printing, news services/syndication, digital archives,
advertising service revenue, rental income and Baseline
StudioSystems.
(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)
----------------------------------------------------------------------
March Year to Date
-------------------------------------------------
% %
2008 2007 Change 2008 2007 Change
-------- -------- ------ -------- -------- ------
News Media Group
New York Times
Media Group $90,120 $95,849 -6.0 $276,700 $297,146 -6.9
New England Media
Group 24,122 32,543 -25.9 81,378 97,242 -16.3
Regional Media
Group 23,075 28,623 -19.4 74,081 89,206 -17.0
-------- -------- ------ -------- -------- ------
Total News Media
Group 137,316 157,016 -12.5 432,159 483,594 -10.6
About Group (b) 8,200 6,698 +22.4 26,180 21,321 +22.8
-------- -------- ------ -------- -------- ------
Total Ad Revenues
from Continuing
Operations $145,516 $163,714 -11.1 $458,339 $504,915 -9.2
======== ======== ====== ======== ======== ======
Discontinued
Operations:
Broadcast Media
Group (c) 0 11,138 N/A 0 32,229 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 GROUP AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
-------------------------------------------------
% Change % Change
Mar. '08 YTD '08
vs. Mar. '07 vs. YTD '07
--------------------------------
Help Wanted -35.0 -31.9
Real Estate -29.7 -25.7
Automotive -20.2 -17.3
Other -1.8 +1.6
--------------------------------
Total Classified -25.7 -22.6
-------------------------------------------------
CONTACT: The New York Times Company
Catherine J. Mathis, 212-556-1981
mathis@nytimes.com
or
Paula Schwartz, 212-556-5224
paula.schwartz@nytimes.com
SOURCE: The New York Times Company
