December 11, 2017

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NY Times Ad Revenues Plunge Despite Online Gains

NY Times Ad Revenues Plunge Despite Online Gains

The New York Times is out this afternoon with its October 2008 advertising figures and the numbers are anything but pretty. Advertising in their news media group plunged 17.2% over the same month last year. Internet revenues rose 5.3% but were tempered by “continued weakness in online recruitment advertising.”

Classified advertising was especially hard hit, dropping 34.7%. This category was led in its nosedive by help wanted ads which were cut nearly in half (46.5 percent). Real estate and automotive were not much better at -33.8% and -35.5% respectively.

One small bright spot for the New York Times was circulation revenue, which actually climbed a modest 3.4% over last October. About.com and related web properties also contributed 3.4% higher ad revenues “as growth in cost-per-click advertising offset declines in display advertising.”

(see more figures in the NY Times press release)

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