Total publishing revenues at Tribune, including circulation revenues, were down 8.6% to $279 million. Ad revenues in particular suffered from a 6.8% drop in retail advertising, and an 8.2% drop in national advertising, including continuing weakness in the auto category. Worst of all, however, was a 14.9% drop in classified revenues--traditionally a mainstay of the newspaper business. This included a 20% drop in real-estate classifieds, a 13% drop in help wanted, and a 12% drop in automotive.
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April also saw the extension of another ominous continuing trend--a slowdown in the percentage rate of growth at the company's online revenues. While its interactive revenues still increased a healthy 20% over April of 2006, that's a drop from the 27% average rate of growth in second-quarter 2006. If May and June match April's $21 million for a second-quarter total of $63 million, that would constitute just 10.5% growth over last year's $57 million.
Monthly results from other big newspaper owners aren't yet available, but first-quarter results suggest the slowdown is not confined to Tribune. Its competitors will probably post similar April results in the near future.