The New York Times revealed their 3rd Quarter Earnings today and the news of the day seems to be that the company no longer makes the large share of its money from advertising — though an uptick in subscriptions may have been helped by an ad campaign. Weird.
The details: “At the company’s New York Times Media Group, which includes The Times and The International Herald Tribune, circulation revenue reached $175.2 million in the third quarter, while ad revenue dropped to $164.5 million.” — New York Times
“Looking ahead, visibility remains limited for advertising in the fourth quarter. But as is the case across the media sector, we have seen encouraging signs of improvement in the overall economy and in discussions with our advertisers. Early in the fourth quarter, print advertising trends, in comparison to the third quarter, have improved modestly, while digital advertising trends are improving more significantly,” said Janet Robinson, president and CEO in a statement.
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