NYT advertising revenue continues to plummet

There’s some pretty grim revenue news coming from the Worcester Telegrams parent, The New York Times Company, today.

New England Media Group - Advertising revenues for the New England Media Group decreased 31.4%, and excluding the additional week, decreased 17.7%. National advertising revenues decreased due to weakness in telecommunications, pharmaceutical/packaged goods, technology and travel advertising. Retail advertising revenues decreased primarily due to weakness in the jewelry/watches, department store, records/books and computer/office supplies categories. Classified advertising revenues decreased because of softness in real estate and help-wanted advertising.

Outside the New England region the numbers look equally terrible with advertising revenues down 13.8% in December from 12 months earlier and just over 6% for the year. Interesting business model ya got there.

link

A fun and somewhat related anecdote: While at the START Holiday Arts fair this past December I had a T&G employee tell me “it is a proven fact that nobody actually reads news online”. So If you’re reading this and it was news to you, please go back and forget the experience immediately.
Equally fun and anecdotal, advertising revenue here on RB for the same period is up 345.74%

Post by: Brendan | January 31, 2008 | Filed Under everything else 

Comments

3 Responses to “NYT advertising revenue continues to plummet”

  1. Tom F. on January 31st, 2008 3:41 pm

    Couldn’t happen to a nicer anti-business business.

  2. Mike on January 31st, 2008 5:15 pm

    It’s my hope that somebody will do an intervention on the T&G sooner rather than later, as their own circulation is collapsing at twice the national average:

    http://www.pieandcoffee.org/2007/05/01/newspapers-down-2-tg-down-11/

    http://www.pieandcoffee.org/2007/11/07/newspapers-down-26-tg-down-5/

    I guess the dark joke is that, increasingly, “it is a proven fact that nobody actually reads the T&G.”

  3. Noah Bombard on February 19th, 2008 12:56 pm

    That’s funny… actually, it’s a proven fact that more and more people are getting their news online every year — as is evident by circulation numbers at newspapers in a steady decline for the past several years. At the New England Press Association conference in Boston earlier this month, the predominant theme was that the print newspaper industry as a whole has about five to 10 years left in it at best.

    It’s a different world we live in now. Not only do folks not turn to print as much anymore, but we’re now a generation who refuse to pay for news and information. We’re used to getting it for free online. I don’t think that’s a bad thing — although the media biz still has to find a way to pull in money from somewhere.



Leave a Reply