NYT Print, Online Ad Revenue Down 21%
The New York Times Co. has a rough month. Total revenues fell 13.9% in November compared with a year ago. Advertising revenues fell even further, down 20.9% for the month.
Particularly worrisome is that Internet revenues slid along with print, even though traffic at the company's flagship NYTimes.com swelled 10%. Internet ad revenues decreased 3.8% in November. That decline is swift turnaround, since income from Internet ads had been growing until last month, increasing 11.6% from Jan.-Nov. 2008, compared with the same period in 2007.
Despite the dip, the NYT's online revenues continue to account for a bigger and bigger piece of a smaller and smaller pie. In total, Internet businesses accounted for 12.1% of total revenues in November, up from 10.7% last year.