Ad revenue falls again at The New York Times Co.

Ad revenue at The New York Times Co. declined 8.9% in the third quarter from the quarter a year earlier as print ad revenue dropped 10.9% and digital ad revenue slipped 2.2%, the company said today. Circulation revenue, however, increased 7.4% on the strength of growing digital subscriptions and an increase in print circulation prices in the first half, which offset falling print sales. The boost in circulation revenue was nearly enough to overcome the ad drop and a 2.9% decline in other revenue: Total company revenue was down just 0.6% from the third quarter of 2011. The company, which also publishes The Boston Globe, said it expects overall ad revenue trends in the fourth quarter to resemble the quarter just completed. Circulation revenue should increase in by a percentage in the mid- to high-single digits, it said. "While our results for the third quarter reflect continues pressure on advertising revenues, total circulation revenues rose led by the ongoing expansion of our digital subscription base," said Arthur Sulzberger Jr., chairman and interim CEO, in a statement accompanying the financial results on Thursday. "Digital subscription trends have remained robust and at quarter end, paid digital subscriptions across the Company totaled approximately 592,000, up 11 percent from the end of the second quarter." Digital subscribers to The New York Times and the International Herald Tribune comprised 566,000 of that total, up 11% from the end of the second quarter, while... Continue reading at 'Crains New York'

[ Crains New York | 2012-10-25 00:00:00 UTC ]
News tagged with: #digital subscribers #operating profit

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