Like so many other national newspapers, the New York Times continues to reduce costs (estimate 2009 reduction of $475Million) due to declining revenue (down 16.9% from last year).
Advertising continues to struggle
-Classified down 38.3% (automotive,-32.1%; real estate, -44.1%; and help wanted,-52.5%)
-Retail advertising down 25.1%
-Circulation revenue actually increased 6.7% last quarter (but, both the NYT and Globe introduced price increases)
Meanwhile Gannett Company posted a revenue decrease of 53% in the third quarter. A few comments-
-Print newspaper advertising down 31.2%; revenue fell 28.4%
-Online advertising declined 18.5%
-Classified down (automotive, -35% ;real estate, -37% ; employment, -56%)
Subscribe to:
Post Comments (Atom)
1 comment:
The newspapers really must change their models ...... and do it fast.
Post a Comment