Blog Post

NYT’s August Revenues Down 14 Percent; Online Sales Recover After Weak July

The New York Times (NYSE: NYT) company’s revenues fell sharply in August (16 percent at its three main papers NYT, IHT and Boston Glober), yet its online showed a marked improvement over the flat July. Online ad revenues in its news media properties grew 7.9 percent despite weakness in online recruitment advertising, particularly in late August. Group’s ad revenues rose 16.1 percent due to growth in both cost-per-click and display advertising. Online revenues made up only 13 percent of overall revenue at the Times in August.

But this online growth is still slower than previous month before July (of course August is seasonally a very slow month): In June, the online revenues rose 21.5 percent over June 2007. Online ad revenue grew 14.2 percent in May, 25.6 percent in April, and 14.8 percent in March.

Total classified advertising dropped off 30 percent for the company, with jobs ads falling 45 percent and real estate dropping 30 percent, which is marginally better than July declines. More details in release.