The New York Times Company has reported its fourth quarter earnings today, and as usual, things are bleak. For the quarter, profit dropped 12 percent and for the year the Times Company posted a net loss of $39.7 million.
The drop can be attributed mainly to a decline in print advertising and About.com’s performance:
Across the company, advertising revenue declined 7.1 percent in the fourth quarter. Print advertising was down 7.8 percent and digital advertising declined 4.9 percent, dragged down by a 25.9 percent revenue drop-off at the company’s About.com property.
The brightest news was that the News Media Group, which includes The New York Times, The Boston Globe and The International Herald Tribune, saw digital advertising jump 5.3 percent. Circulation revenue was also up almost five percent for the quarter.