The New York Times Company (NYT) reported April revenue today, and things are getting worse. The company’s media group which includes its newspapers and their websites saw a 5% decline, or about $9 million. The company’s small internet division, About.com had an increase of 27% in its revenue, but that represents less than $2 million.
Surprisingly, the internet revenue improvement from the companies three newspaper division was anemic. Internet ad revenues included in the three media groups above rose 15.6% in April. Most large web properties are doing much better than that.
To make matters worse, The New York Times Company has a huge web presence. In April, The New York Times Company had the 11th largest presence on the Web, with 42.9 million unique visitors in the United States. Wall St. would think that the company could squeeze more advertising out of such a large, and probably affluent, internet audience.
But, it is not working out that way.
Douglas A. McIntyre