The New York Times: Advertising Revenues Continue to Decline

The advertising outlook for newspapers is going from awful to horrendous. The New York Times (NYT) announced first quarter earnings today, revealing that total advertising revenues for its news media group (which includes the New York Times, the Boston Globe, and other regional newspapers) declined 28.4 percent, versus an 18.4 percent decline last quarter. So the rate of decline for is intensifying

Internet advertising revenues declined 6.1 percent to $67.6 million, compared to a 3.5 percent decline last quarter. Total advertising revenues were $335 million in the quarter and all revenues, including circulation, were $609 million. The comp[any as a whole posted a net loss of $74.2 million. In other words, the New York Times lost more money across the board than it made from Internet advertising.

The newspaper has been trimming staff, cutting costs, and selling assets to meet its financial obligations. CEO Janet Robinson expects advertising revenues to decline in the second quarter at a rate “similar to that of the first.” During the conference call, she noted that the company is exploring new ways to generate online revenues beyond advertising, but cautioned that the new revenue models would have to be additive “without affecting the display advertising business.” She didn’t specify where those alternative revenues would come from, whether from some new micropayment scheme or somewhere else.

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Comments

[MikeInReno]

I am glad to see the NYT suffering. They are traitorous, treasonous, left wing bile, and the next nail in their coffin should be hammered by a grass roots effort made by those of us who feel the way I do, letting the advertisers know that if we see them in the NYT we won't buy what they're selling.

Time for the Times to fail the good old American way, by a loss of revenues because what you're selling is no longer worth buying. What they put out is editorial slime, and with any luck at all, it will be gone before too much time passes.

2009 Apr 21 04:20 PM

[mrktcap]

WAKE UP BEARS, we have work to do!!!! Crazy bulls think they are taking the show...

2009 Apr 21 09:49 PM

[Obamitall]

The NYT will meet its rightfully deserved demise. The lack of factual, non biased reporting and blatant liberal stance of the editorial writers(can't call them journalists) is one good reason for people to not read this tabloid.
The NYT is not fit for the bottom of a birdcage.

2009 Apr 23 07:08 AM