Ad Revenue Growth Slows at New York Times

16 July 2004

The doyen of US newspapers, the New York Times, reported Wednesday a slower than expected increase in advertising revenues in the year to date.

Despite higher spend among retailers and employers, technology ads are down for the second quarter by an eyewatering 29% while property advertising has fallen 9%.

Chief operating officer Janet Robinson blames the figures on the inconsistent nature of US's economic recovery. Nonetheless, the group's total revenues are up 2.7% over the same time last year, with ad revenues up by 3.9%.

In a bid to boost sales the company is planning to increase its colour advertising capacity and improve circulation across the US by adding new printing sites.

President/ceo Russ Lewis points out the NYT's eight TV stations are performing strongly in the run-up to November's presidential election as the candidates insult each other via political ads.

He expects significant revenue growth in the second half of the year and hopes for an increase in circulation for the Times and its stable mate, the Boston Globe.

Data sourced from: Financial Times; additional content by WARC staff