Advertising linage at the WSJ was down 4.5% last month but this compares favourably with the 45.2% decline reported in November 2001. On a per issue basis, linage actually increased by 0.3% this November, the first positive comparable month in over two years. Year-to-date total lineage has declined 18.0% compared to a slump of 37.8% last year.
Commenting on these results, Peter Kann, chairman and CEO of Dow Jones, said; “While we are pleased with our November advertising results and improved outlook for the fourth quarter, we don’t yet have visibility to a sustainable ad recovery. Meantime, we continue to aggressively control everything we can to capitalize on an improved business environment, when it arrives.”
Dow Jones expects the decline in December and fourth quarter linage to be “in the low double digits percentage range”. Revenues have been hit particularly hard by the fall in financial advertising and the group recently laid off 250 staff in a bid to cut costs.
