February 2008
The New York Times Company announced that in December total Company revenues from continuing operations decreased 22.4% compared with December 2006, when our fiscal calendar included an additional week; excluding the estimated impact of the additional week in 2006, they decreased 8.2%. Advertising revenues decreased 25.2%; excluding the additional week, they decreased 12.0%. Circulation revenues decreased 17.8%; excluding the additional week, they increased 0.6%.
Reconciliations of revenues excluding the additional week in 2006 to revenues including the additional week are included in the schedules to this release.
In addition, comparisons for December 2007 were adversely affected by the timing of when the fiscal month began. December 2007 began on December 3 while December 2006 began on November 27. This resulted in fewer advertising days before Christmas in the December 2007 period.
All comparisons are for December 2007 to December 2006 unless otherwise noted:
News Media Group: Advertising revenues for the News Media Group decreased 26.6%, and excluding the additional week, decreased 13.8%.
The New York Times Media Group - Advertising revenues for The New York Times Media Group decreased 24.8%, and excluding the additional week, decreased 13.3%. Advertising revenues were affected by a shift in the timing of T: Holiday, which was published in November 2007 compared with December 2006. National advertising revenues decreased as weakness in healthcare, books, technology products and transportation offset growth in the financial services, entertainment, national automotive and packaged goods categories. Retail advertising revenues decreased mainly due to softness in fashion jewelry, department store and mass market advertising. Classified advertising revenues decreased because of weakness in help-wanted, real estate and automotive advertising.
New England Media Group - Advertising revenues for the New England Media Group decreased 31.4%, and excluding the additional week, decreased 17.7%. National advertising revenues decreased due to weakness in telecommunications, pharmaceutical/packaged goods, technology and travel advertising. Retail advertising revenues decreased primarily due to weakness in the jewelry/watches, department store, records/books and computer/office supplies categories. Classified advertising revenues decreased because of softness in real estate and help-wanted advertising.
Regional Media Group - Advertising revenues for the Regional Media Group decreased 28.1%, and excluding the additional week, decreased 11.3%. Retail advertising revenues were down mainly because of decreases in home improvement, home furnishings and department store advertising. Classified advertising revenues decreased due to continued weakness in help-wanted, real estate and automotive advertising.
Internet advertising revenues included in the News Media Group rose 2.7%, and excluding the additional week, increased 20.7%, due to growth in display advertising.
Circulation revenues for the News Media Group decreased 17.8%, and excluding the additional week, increased 0.6%. Revenues were on a par with last year across the News Media Group.
About Group - Advertising revenues at the About Group (which includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com) rose 10.7%, and excluding the additional week, increased 32.7%. December's growth was principally due to increases in both cost-per-click and display advertising. Display advertising increased primarily because of strength in the Internet, technology and financial services categories. In addition, advertising revenues reflect the acquisitions of ConsumerSearch.com in May 2007 and UCompareHealthCare.com in March 2007. Excluding these acquisitions, advertising revenues decreased about 1%, and excluding the additional week, increased approximately 19%.
In addition, The New York Times Company had the 10th largest presence on the Web, with 48.7 million unique visitors in the United States according to Nielsen Online, up approximately 10% from 44.2 million unique visitors in December 2006. Also according to Nielsen Online, NYTimes.com had 17.2 million unique visitors in December and was the No. 1 newspaper Web site in the United States, a position it has long held.
The New York Times Company (NYSE: NYT), a leading media company with 2007 revenues of $3.2 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers, WQXR-FM and more than 50 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.
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