NEW YORK--(BUSINESS WIRE)--Aug. 26, 2008--The New York Times
Company announced today that in July total Company revenues from
continuing operations decreased 10.1% compared with the same month a
year ago. Advertising revenues decreased 16.2% and circulation
revenues decreased 0.5%.
All comparisons are for July 2008 to July 2007 unless otherwise
noted:
News Media Group
Advertising revenues for the News Media Group decreased 17.9%
mainly because of weakness in print advertising.
The New York Times Media Group - Advertising revenues for The New
York Times Media Group decreased 15.3%. National advertising revenues
decreased as weakness in the studio entertainment, transportation,
hotel and national automotive categories offset growth in media,
financial services, advocacy and healthcare advertising. Retail
advertising revenues decreased mainly due to softness in the
department store, home furnishing store and national retail
categories. 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 24.5%. National advertising revenues were lower
mainly because of decreases in travel, studio entertainment, financial
services, banking and national automotive advertising. Retail
advertising revenues decreased primarily due to weakness in the home
improvement, furniture/home furnishing, jewelry/watches and discount
store categories. Classified advertising revenues decreased due to
softness in real estate, help-wanted and automotive advertising.
Regional Media Group - Advertising revenues for the Regional Media
Group decreased 18.1%. Retail advertising revenues were down mainly
because of decreases in the home furnishings, telecommunications,
department store and home improvement categories. Classified
advertising revenues decreased due to weakness in real estate,
help-wanted and automotive advertising.
Internet advertising revenues included in the News Media Group
increased 0.9% as more moderate growth in display advertising was
partially offset by continued weakness in online recruitment
advertising. To date in August, online advertising for the News Media
Group is trending up in the low double digits as display advertising
at NYTimes.com has improved.
Circulation revenues for the News Media Group decreased 0.5%.
Revenues increased at The New York Times and Regional Media Groups,
and decreased at the New England Media Group. In July 2008, The New
York Times announced that home-delivery prices would increase an
average of 4.5% upon the subscriber's renewal date and for new
subscribers. Effective August 18, the daily newsstand price of The
Times increased from $1.25 to $1.50.
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 14.6% mainly due to growth in cost-per-click
advertising.
Other Data
Internet Businesses: Total Internet revenues grew 2.6% and
Internet advertising revenues increased 5.5% in July. Internet
businesses include NYTimes.com, About.com, Boston.com and other
Company Web sites. In total, Internet businesses accounted for 12.5%
of total revenues in July versus 11.0% in July 2007.
In addition, The New York Times Company had the 11th largest
presence on the Web, with 50.2 million unique visitors in the United
States in July 2008 according to Nielsen Online, up approximately 12%
from 44.7 million unique visitors in July 2007. Also according to
Nielsen Online, NYTimes.com had 19.5 million unique visitors in July
versus 14.1 million in July 2007, up about 38%, 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 $3.2 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, 16 other daily
newspapers, WQXR-FM and more than 50 Web sites, including NYTimes.com,
Boston.com and About.com. The Company's core purpose is to enhance
society by creating, collecting and distributing high-quality news,
information and entertainment.
THE NEW YORK TIMES COMPANY
2008 TOTAL COMPANY REVENUES (a)
($ 000's)
-----------------------------------------------------
July Year to Date
-----------------------------------------------------
% %
2008 2007 Change 2008 2007 Change
-------- -------- ------ ---------- ---------- ------
Advertising
Revenues
News Media
National $ 55,676 $ 63,694 -12.6 $ 483,485 $ 512,840 -5.7
Retail 28,539 32,906 -13.3 223,220 249,895 -10.7
Classified 31,007 44,336 -30.1 237,959 314,914 -24.4
Other Ad
Revenue 4,718 5,222 -9.7 35,078 37,034 -5.3
-------- -------- ------ ---------- ---------- ------
Total News
Media Group 119,939 146,157 -17.9 979,741 1,114,685 -12.1
About Group
(b) 9,501 8,294 +14.6 62,415 53,149 +17.4
-------- -------- ====== ---------- ---------- ======
Total Ad
Revenues from
Continuing
Operations 129,440 154,451 -16.2 1,042,156 1,167,833 -10.8
Circulation
Revenues 84,044 84,463 -0.5 534,841 525,582 +1.8
Other Revenues
(c) 22,433 23,408 -4.2 148,679 143,871 +3.3
-------- ======== ====== ---------- ========== ======
Total Company
Revenues from
Continuing
Operations $235,917 $262,322 -10.1 $1,725,677 $1,837,286 -6.1
======== ======== ====== ========== ========== ======
Discontinued
Operations:
Broadcast Media
Group (d) 0 0 N/A 0 46,701 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,
direct mail advertising services 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)
-----------------------------------------------------
July Year to Date
-----------------------------------------------------
% %
2008 2007 Change 2008 2007 Change
-------- -------- ------ ---------- ---------- ------
News Media Group
New York Times
Media Group $ 71,179 $ 84,068 -15.3 $ 618,785 $ 680,607 -9.1
New England
Media Group 24,706 32,725 -24.5 191,237 230,301 -17.0
Regional Media
Group 24,054 29,365 -18.1 169,719 203,776 -16.7
-------- -------- ------ ---------- ---------- ------
Total News Media
Group 119,939 146,157 -17.9 979,741 1,114,685 -12.1
About Group (b) 9,501 8,294 +14.6 62,415 53,149 +17.4
-------- -------- ====== ---------- ---------- ======
Total Ad
Revenues from
Continuing
Operations $129,440 $154,451 -16.2 $1,042,156 $1,167,833 -10.8
======== ======== ====== ========== ========== ======
Discontinued
Operations:
Broadcast Media
Group (c) 0 0 N/A 0 45,745 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
July '08 YTD '08
vs. July '07 vs. YTD '07
-------------------------------------------------
Help-Wanted -40.9 -35.0
Real Estate -32.1 -25.4
Automotive -28.2 -20.9
Other -6.5 -3.1
-------------------------------------------------
Total Classified -30.1 -24.4
-------------------------------------------------
This press release can be downloaded from www.nytco.com
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
