Ahead of its Q4 earnings report, the New York Times Company (NYSE: NYT) said December revenues fell 9.1 percent compared with the same month a year ago, while ad revenues dropped 15.7 percent. One piece of good news: circulation revenues grew a slight 3 percent. The company said this would be its last monthly report. More after the jump.
– Internet revs: Internet ad revenues included in the News Media Group fell 12.3 percent in December, as the NYTCo cited weakness in both display and online classified advertising. Looking back to its December ’07 revenue report, online ad dollars were merely weak, rising a then anemic 2.7 percent in the News Media Group, but strong display pushed total web ads up 20 percent. What a difference a year makes.
– About Group: Advertising revenues at the usually strong About Group dropped 13.2 percent in December because of declines in display and cost-per-click advertising. Again, looking back to December ’07, the worry was about slowing growth. But from this vantage point, it’s hard to imagine that 10.7 percent gains were not that impressive. For the 2008 full year, ad revenues at the About Group gained 10.4 percent, as growth in cost-per-click advertising offset modest declines in display advertising. Release