NYT’s November Revenues: Bleed is Still On
The New York Times Company (NYSE: NYT) has announced its November 2008 revenue figures across its various divisions, and the bleed is continuing:
– Revenues from continuing operations decreased 13.9 percent compared with the same month a year ago. Ad revenues decreased 20.9 percent and circulation revenues increased 4.2 percent.
– Ad revenues for The New York Times Media Group decreased 21.2 percent.
– Online ad revenues included in the News Media Group decreased 4.0 percent, as modest growth in display ad was offset by weakness in online recruitment and real estate ad. Year-to-date online ad revenues for this group were up 10.9 percent, compared with the same period in 2007.
For the overall online business: Total Internet revenues decreased 2.6 percent and Internet ad revenues decreased 3.8 percent in November. Internet businesses include NYTimes.com, About.com, Boston.com and other company sites. Year-to-date November 2008, total Internet revenues rose 8.3 percent and Internet ad revenues increased 11.6 percent compared with the same period in 2007. More here.
No company deserves to die more than the NYT. This was once a great newspaper, in fact, it was the nationally recognized newspaper of record. It was the most trusted newspaper in the world. It was trust the paper had earned over generations.
Now the current management team has turned the paper into a highly partisan vehicle that has forsaken any sense of balance and objectivity.
In short, the newspaper is committing suicide by alienating life time readers like myself. I refuse to buy a copy or do anything that might put any money in their pockets. There must be millions more like me.
There are now many other much more trusted sources of news and information.
It's a real shame. It's a great loss to our country.
But it is entirely self-inflicted. It's time for the once great NYT to die.
Frank Hawkins