NEW YORK--(BUSINESS WIRE)--Dec. 24, 2008--The New York Times Company announced today that in November total
Company revenues from continuing operations decreased 13.9% compared
with the same month a year ago. Advertising revenues decreased 20.9% and
circulation revenues increased 4.2%.
All comparisons are for November 2008 to November 2007 unless otherwise
noted:
News Media Group
Advertising revenues for the News Media Group declined 21.8%.
The New York Times Media Group - Advertising revenues for The New
York Times Media Group decreased 21.2%. National advertising revenues
decreased as weakness in the studio entertainment, national automotive,
book and financial services categories offset growth in technology,
media and advocacy advertising. Retail advertising revenues declined
mainly due to lower department store, mass market and fashion/jewelry
advertising. Classified advertising revenues were down mainly because of
weakness in real estate and help-wanted advertising.
New England Media Group - Advertising revenues for the New
England Media Group decreased 23.3%. National advertising revenues were
lower mainly because of decreases in the national automotive, live
entertainment, financial services and travel categories. Retail
advertising revenues declined primarily due to weakness in the
furniture/home furnishing, jewelry/luggage, department store and home
improvement categories. Classified advertising revenues were lower due
to softness in real estate, automotive and help-wanted advertising.
Regional Media Group - Advertising revenues for the Regional
Media Group decreased 22.2%. Retail advertising revenues were down
mainly because of declines in the home furnishing, specialty store,
telecommunications and home improvement categories. Classified
advertising revenues decreased due to weakness in help-wanted,
automotive and real estate advertising.
Internet advertising revenues included in the News Media Group decreased
4.0% as modest growth in display advertising was offset by weakness in
online recruitment and real estate advertising. Year-to-date November
2008, Internet advertising revenues included in the News Media Group
were up 10.9% compared with the same period in 2007.
Circulation revenues for the News Media Group grew 4.2%. Revenues
increased at The New York Times, New England and Regional Media Groups.
About Group
Advertising revenues at the About Group (which includes the Web sites of
About.com, ConsumerSearch.com, UCompareHealthCare.com and
Caloriecount.about.com) decreased 3.5% as declines in display
advertising offset moderate growth in cost-per-click advertising.
Year-to-date November 2008, advertising revenues at the About Group
increased 12.9% compared with the same period in 2007.
Other Data
Internet Businesses: Total Internet revenues decreased 2.6% and
Internet advertising revenues decreased 3.8% in November. Internet
businesses include NYTimes.com, About.com, Boston.com and other Company
Web sites. In total, Internet businesses accounted for 12.1% of total
revenues in November versus 10.7% in November 2007. Year-to-date
November 2008, total Internet revenues rose 8.3% and Internet
advertising revenues increased 11.6% compared with the same period in
2007. In total, Internet businesses accounted for 11.9% of total
revenues for year-to-date November 2008 compared with 10.2% in the same
period in 2007.
In addition, The New York Times Company had the 10th largest presence on
the Web, with 55.0 million unique visitors in the United States in
November 2008 according to Nielsen Online, up about 11% from 49.6
million unique visitors in November 2007. Also according to Nielsen
Online, NYTimes.com had 20.9 million unique visitors in November versus
18.9 million in November 2007, up about 10%, 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 $3.2 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, 16 other daily
newspapers, WQXR-FM and more than 50 Web sites, including NYTimes.com,
Boston.com and About.com. The Company's core purpose is to enhance
society by creating, collecting and distributing high-quality news,
information and entertainment.
This press release can be downloaded from www.nytco.com
THE NEW YORK TIMES COMPANY
2008 TOTAL COMPANY REVENUES(a)
($ 000's)
November Year to Date
% %
2008 2007 Change 2008 2007 Change
Advertising Revenues
News Media
National $75,628 $95,840 -21.1 $787,314 $864,025 -8.9
Retail 39,686 47,176 -15.9 359,087 406,788 -11.7
Classified 20,858 31,252 -33.3 340,875 465,404 -26.8
Other Ad Revenue 5,031 6,234 -19.3 54,413 58,779 -7.4
Total News Media 141,203 180,502 -21.8 1,541,689 1,794,996 -14.1
Group
About Group (b) 8,693 9,005 -3.5 99,358 88,016 +12.9
Total Ad Revenues
from Continuing 149,896 189,508 -20.9 1,641,047 1,883,013 -12.8
Operations
Circulation Revenues 73,005 70,091 +4.2 839,998 821,760 +2.2
Other Revenues (c) 20,828 23,600 -11.7 236,288 235,469 +0.3
Total Company
Revenues from $243,729 $283,199 -13.9 $2,717,332 $2,940,242 -7.6
Continuing Operations
Discontinued
Operations: Broadcast 0 0 N/A 0 46,702 N/A
Media Group (d)
(a) Numbers may not add due to rounding.
(b) Includes the Web sites of About.com, ConsumerSearch.com,
UCompareHealthCare.com and Caloriecount.about.com.
(c) Primarily includes revenues from news services/syndication, commercial
printing, digital archives, rental income, direct mail advertising services and
wholesale delivery operations, which the Company expects to close in January
2009.
(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)
November Year to Date
% %
2008 2007 Change 2008 2007 Change
News Media Group
New York Times Media $93,432 $118,614 -21.2 $988,987 $1,120,857 -11.8
Group
New England Media 25,854 33,702 -23.3 296,093 361,029 -18.0
Group
Regional Media Group 21,917 28,187 -22.2 256,609 313,110 -18.0
Total News Media 141,203 180,502 -21.8 1,541,689 1,794,996 -14.1
Group
About Group (b) 8,693 9,005 -3.5 99,358 88,016 +12.9
Total Ad Revenues
from Continuing $149,896 $189,508 -20.9 $1,641,047 $1,883,013 -12.8
Operations
Discontinued
Operations: Broadcast 0 0 N/A 0 45,745 N/A
Media Group (c)
(a) Numbers may not add due to rounding.
(b) Includes the Web sites of About.com, ConsumerSearch.com,
UCompareHealthCare.com and Caloriecount.about.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
Nov. '08 YTD '08
vs. Nov. '07 vs. YTD '07
Help-Wanted -45.2 -37.6
Real Estate -34.4 -27.4
Automotive -31.3 -23.0
Other -15.0 -7.7
Total Classified -33.3 -26.8
CONTACT: The New York Times Company
Catherine J. Mathis, 212-556-1981
mathis@nytimes.com
Paula Schwartz, 212-556-5224
paula.schwartz@nytimes.com
Source: The New York Times Company
