The New York Times Company, announced today that total revenues for the company had fallen 13.9% in November compared with a year ago.
Ad revenues were down 20.9%.
Most worrisome: Internet revenues, long seen as the potential salvation for the company’s future as more of the world’s news audience migrates online, slid along with print.
Even though the company’s flagship Web site, NYTimes.com, got a 10% traffic boost in November, total Internet revenues decreased 2.6% and Internet advertising revenues decreased 3.8% in November
Year-to-date November 2008, total Internet revenues had risen 8.3% and Internet advertising revenues increased 11.6% compared with the same period in 2007.
Revenues from online ads accounted for 12.1% of total revenues in November vs. 10.7% in November 2007.
This is no surprise that overall revenues are down but its good to see that internet revenues have actually increased!
As we all know more and more people are buying or using free online news papers and this is something that is only going to get larger and larger.
I believe next year we shall see further declines in advertising through the press but hopefully the internet levels shall remain the same or grow at a slow rate.
Warm Regards,
Robbie
Merry Christmas & Happy Holidays Mike!
They can still make money…to survive… Just really need to discount their advertising big time — it’s not all that great obviously to begin with and advertisers are looking for more bang for their buck this days but if they want to hook somebody long term they need better ad management as well.
Mike
http://www.wannadevelop.com