Advertising revenues at the New York Times Company (NYTC) newspapers fell by 0.9% in June and by 2.1% for the whole of the second quarter, the company announced yesterday.
Whilst the slump continues at the US newspaper group, the rate of decline is now falling. NYTC’s Q2 figures are much better than Dow Jones’ – publisher of the
Wall Street Journal – which saw ad revenues fall by 13.9% (see
Dow Jones Continues To Feel Ad Sting).
NYTC’s flagship New York Times paper saw revenues down by 0.9% in June, with national advertising increasing. Strength in the entertainment, banking, media and hotels categories helped to offset softness in technology products, healthcare/pharmaceutical and financial services advertising, the group said.
Classified advertising revenue decreased as weakness in help-wanted advertising was offset in part by continued growth in real estate advertising. Retail advertising revenue declined due to softer advertising from department stores and restaurants. Overall Q2 revenues at the paper were down 3.0%; in the year to date, the fall is 7.9%.
At the total newspaper group in the year to date revenues have fallen by 6.8%. The group suffered a 71% fall in Q2 profit as a result of the fall in advertising and redundancy costs.
