NEW YORK, May 17, 2006 (BUSINESS WIRE) -- The New York Times Company announced today that in April
2006 advertising revenues for the Company's business units decreased
1.6% and total Company revenues increased 0.1% compared with April
2005.
"As anticipated, our advertising results were adversely affected
by the timing of the Easter holiday, which fell in April this year but
was in March last year," said Janet L. Robinson, president and CEO.
"Easter Sunday is traditionally a time of reduced advertising at both
The New York Times and The Boston Globe.
"In April we achieved healthy gains in online advertising
revenues, which rose over 25% across the News Media Group. Advertising
revenues climbed nearly 85% at About.com, which continued to
experience very robust growth in both cost-per-click and display
advertising. The Times Company continues to be the 10th most-visited
parent company on the Web with 38 million visitors in the U.S. in
April according to Nielsen NetRatings.
"At The New York Times Media Group, circulation revenues were
particularly strong - up approximately 3% in April as a result of The
Times's February home-delivery price increase and growth in national
home-delivery subscriptions.
"Other revenues posted gains at all of the properties in the News
Media Group. The New York Times Media Group benefited from TimesSelect
subscriptions, which have now risen to over 482,000, of which 38%
represent online-only paid subscriptions. At the New England Media
Group, other revenues were boosted in large part by an increase in its
commercial printing business.
"On the cost side, we are benefiting from productivity gains and
changes we made to our expense structure in 2005, and we remain very
disciplined on managing our costs."
All comparisons are for April 2006 to April 2005 unless otherwise
noted:
The New York Times Media Group - Advertising revenues for The New
York Times Media Group decreased 2.1%. April's performance was also
affected by the shift of one issue of T: The New York Times Style
magazine, a special supplement to The Sunday Times, which will be
published in fiscal May this year versus April 2005.
National advertising revenues decreased as weakness in technology,
American fashion and media advertising offset strength in the advocacy
and pharmaceutical ad categories. Retail advertising revenues
decreased as softness in fashion apparel store and mass market store
advertising offset growth in fine arts advertising. Classified
advertising revenues were on a par with last year as strong gains in
real estate advertising offset weakness in help-wanted and automotive
advertising.
New England Media Group - Advertising revenues for the New England
Media Group decreased 13.3%. National advertising revenues were lower
on softness in national automotive, travel, telecommunications and
banking advertising. Retail advertising revenues decreased largely due
to the consolidation of the group's two largest department store
advertisers and to weakness across many of its retail categories.
Classified advertising revenues decreased with softness in automotive,
help-wanted and real estate advertising.
Regional Media Group - Advertising revenues for the Regional Media
Group grew 5.3%. Retail advertising revenues were on a par with last
year as weakness in telecommunications, grocery store, financial and
department store advertising offset growth in office supplies and
hospital advertising. Classified advertising revenues outpaced last
year as gains in real estate and help-wanted advertising offset softer
automotive advertising.
The Internet ad revenues included in the three media groups above
increased 25.4% due to continued strong growth in both display and
classified advertising.
TimesSelect, the fee-based product on NYTimes.com that includes
The Times's distinctive columnists and extensive access to its
archives as well as other features, currently has more than 482,000
subscribers, with about 62% receiving TimesSelect as a benefit of
their home-delivery subscriptions and about 38% receiving it from
online-only subscriptions.
Circulation revenues for April were on a par with last year.
Circulation revenues increased at The New York Times Media Group and
the Regional Media Group, but declined at the New England Media Group.
Broadcast Media Group - Advertising revenues grew 2.5% at the
Broadcast Media Group, which benefited from the acquisition of
KAUT-TV. Excluding KAUT-TV, advertising revenues decreased 1.2% due to
lower network compensation and weakness in restaurant and
entertainment advertising offset in part by gains in
telecommunications and furniture advertising.
About.com - Advertising revenues for About.com rose 84.5%. April's
results were principally due to strong growth in cost-per-click
advertising. In addition, strength in display advertising continued
with increased revenues from the retail, telecommunications, travel
and financial ad categories. About also showed strong gains in revenue
from technology, pharmaceuticals, consumer electronics and auto
advertisers.
The New York Times Company (NYSE: NYT), a leading media company
with 2005 revenues of $3.4 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, 15 other daily
newspapers, nine network-affiliated television stations, two New York
City radio stations and 35 Web sites, including NYTimes.com,
Boston.com and About.com. The Company's core purpose is to enhance
society by creating, collecting and distributing high-quality news,
information and entertainment.
THE NEW YORK TIMES COMPANY
2006 TOTAL COMPANY REVENUES (a)
APRIL AND YEAR TO DATE
----------------------------------------------------------------------
Total Company Revenues
($ 000's)
April Year to Date
---------------------------------------------------------
% %
2006 2005 Change 2006 2005 Change
--------- --------- ------ ----------- ----------- ------
Advertising
Revenues
News Media
National (b) $84,752 $87,742 -3.4 $310,209 $315,784 -1.8
Retail (c) 45,185 48,476 -6.8 156,105 161,802 -3.5
Classified (d) 59,884 61,192 -2.1 213,891 207,378 +3.1
Other Ad
Revenue (e) 6,563 5,969 +10.0 21,575 20,541 +5.0
--------- --------- ----------- -----------
Sub-Total 196,384 203,379 -3.4 701,781 705,506 -0.5
Broadcast
Media 14,217 13,871 +2.5 45,538 44,474 +2.4
--------- --------- ----------- -----------
Sub-Total 210,601 217,250 -3.1 747,319 749,980 -0.4
About.com 7,024 3,807 +84.5 24,933 4,857 N/A
--------- --------- ----------- -----------
Total
Advertising
Revenues 217,625 221,057 -1.6 772,252 754,837 +2.3
Circulation
Revenues 84,828 84,236 +0.7 305,109 303,853 +0.4
Other
Revenues (f) 21,806 18,720 +16.5 78,670 70,908 +10.9
--------- --------- ----------- -----------
Total Company
Revenues $324,260 $324,014 +0.1 $1,156,031 $1,129,597 +2.3
========= ========= =========== ===========
----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Includes all ad revenue from the International Herald Tribune.
(c) Includes all preprint revenues.
(d) Includes legal advertising.
(e) Primarily includes ad revenue from the Regional Media Group's
magazines.
(f) Primarily includes revenues from wholesale delivery operations,
news services, direct marketing, digital archives, commercial
printing and TimesSelect.
THE NEW YORK TIMES COMPANY
2006 ADVERTISING REVENUES (a)
APRIL AND YEAR TO DATE
----------------------------------------------------------------------
Total Company Advertising Revenues
($ 000's)
April Year to date
-----------------------------------------------------
% %
2006 2005 Change 2006 2005 Change
--------- --------- ------ --------- --------- ------
News Media Group
New York Times
Media Group (b) $117,813 $120,391 -2.1 $425,625 $421,857 +0.9
New England
Media Group (c) 41,057 47,365 -13.3 142,594 156,772 -9.0
Regional Media
Group 37,514 35,623 +5.3 133,563 126,877 +5.3
--------- --------- --------- ---------
Sub-Total 196,384 203,379 -3.4 701,781 705,506 -0.5
Broadcast Media
Group (d) 14,217 13,871 +2.5 45,538 44,474 +2.4
--------- --------- --------- ---------
Sub-Total 210,601 217,250 -3.1 747,319 749,980 -0.4
About.com 7,024 3,807 +84.5 24,933 4,857 N/A
--------- --------- --------- ---------
Total Company
Ad Revenues $217,625 $221,057 -1.6 $772,252 $754,837 +2.3
========= ========= ========= =========
----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) The New York Times, NYTimes.com, International Herald Tribune and
WQXR-FM.
(c) The Boston Globe, Boston.com and the Worcester Telegram & Gazette.
(d) Beginning in November 2005, includes the results of KAUT-TV,
purchased November 3, 2005. Excluding KAUT-TV, advertising
revenues were down 1.2% in April and down 1.5% year to date.
THE NEW YORK TIMES COMPANY
2006 NEWS MEDIA AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
APRIL AND YEAR TO DATE
----------------------------------------------------------------------
% Change % Change
April '06 YTD '06
vs. April '05 vs. YTD '05
--------------------------------------------
News Media
Help Wanted -11.0 -4.4
Real Estate +12.2 +22.5
Automotive -12.6 -13.1
THE NEW YORK TIMES COMPANY
2006 PRINT ADVERTISING VOLUME (a)
(Inches in thousands, Preprints in thousands of copies)
APRIL AND YEAR TO DATE
----------------------------------------------------------------------
April Year to Date
----------------------------------------------------------------------
% %
2006 2005 Change 2006 2005 Change
-------- -------- ------ -------- -------- ------
National (b) 217.2 229.1 -5.2 798.8 818.2 -2.4
Retail 604.0 617.3 -2.1 2,111.1 2,176.6 -3.0
Classified 955.3 942.9 +1.3 3,331.8 3,282.6 +1.5
-------- -------- -------- --------
Total ROP 1,776.5 1,789.3 -0.7 6,241.6 6,277.4 -0.6
-------- -------- -------- --------
Part Run/ Zoned 203.0 224.6 -9.6 663.4 706.8 -6.1
-------- -------- -------- --------
Total 1,979.4 2,013.9 -1.7 6,905.1 6,984.2 -1.1
======== ======== ======== ========
Preprints 263,380 291,625 -9.7 949,531 979,696 -3.1
----------------------------------------------------------------------
(a) Advertising volume is based on preliminary internal data, which
may be updated in subsequent reports and may not be indicative of
advertising revenue or operating profit. Numbers may not add due
to rounding.
(b) Includes all ad volume from the International Herald Tribune.
SOURCE: The New York Times Company
The New York Times Company
Catherine J. Mathis, 212-556-1981
E-mail: mathis@nytimes.com
or
Paula Schwartz, 212-556-5224
E-mail: schwap@nytimes.com
This press release can be downloaded from www.nytco.com
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