NEW YORK — Dow Jones&Co. said total advertising linage at The Wall Street Journal, the company’s flagship newspaper, fell 30% in July.
On a per-issue basis, Dow Jones (DJ) said Thursday that ad linage at the Journal dropped 33.3% during the month. Meanwhile, general advertising linage declined 35.5%, financial linage fell 27.4%, and classified and other advertising linage decreased 11.8%.
Advertising linage at The Wall Street Journal Europe dropped 12.2% in July. On a per-issue basis, ad linage at the Journal Europe fell 16.2%. At The Asian Wall Street Journal, total July advertising linage fell 26.3% and declined 29.6% on a per-issue basis.
Barron’s July national advertising pages fell 21.3% on both a total and per-issue basis.
In addition, advertising linage at Ottoway Newspapers Inc. fell 0.9% during July on an actual basis, with daily ad linage dipped 2.9%, but nondaily linage rose 12%.
Dow Jones’s profit has taken a beating because of the ongoing advertising slowdown. For the second quarter, the company’s net income dropped 57% to $43.2 million, or 50 cents a share, while revenue fell 18% to $484.1 million.
For the third quarter, Dow Jones has said it expects to earn between 20 cents and 30 cents a share, on a 25% to 30% fall in advertising linage at the Journal.
For the first seven months of the year, total and per-issue advertising linage at the Journal fell 34.3%.
General advertising declined 38%, financial advertising dropped 34.9% and classified and other advertising fell 14.7%.
Year-to-date advertising linage at The Wall Street Journal Europe fell 19.8% on both a total and per-issue basis, while advertising linage at The Asian Wall Street Journal fell 13.1% on both a total and per-issue basis.
Ottaway Newspapers advertising linage for the year-to-date fell 2.2%, reflecting a 3.2% drop in daily advertising and a 4.2% increase in nondaily advertising.
At Barron’s, national advertising fell 29% on both a total and per-issue basis.
In addition to The Wall Street Journal and its online and international editions, Dow Jones publishes Barron’s magazine and other periodicals, Dow Jones Newswires, Dow Jones Indexes and the Ottaway group of community newspapers. Dow Jones is co-owner with Hearst Corp. of SmartMoney magazine, with Reuters Group of Factiva, and with NBC of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.
Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved
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