The New York Times Company today announced that advertising revenues for the company’s Newspaper Group decreased 9.7% in March 2002 when compared with the same month last year.
The decline in March was slightly greater than that recorded in February (8.9%) due to a switch of the Easter holiday from April last year into March this year, said the company. Adjusted to take the Easter holiday into account, the ad revenue decline in March would have been approximately two percentage points better than February’s total.
In Q1 of 2002, advertising revenue for the group decreased by 11.2% when compared with the same period last year.
Ad revenue at the New York Times fell by 11.7% for March 2002 compared to figures for last year. The company said that “National advertising revenue decreased due to softness in financial services, transportation, technology products, telecommunications and corporate advertising.”
Entertainment was among the strongest advertising categories in March, classified advertising revenue decreased as did retail advertising revenue – largely due to softer mass market and chain stores advertising.
