NYT Online Ad Revs Will Grow 10 Percent
The New York Times Company predicts that online advertising revenue at NYT.com, About.com and its other sites will grow 10 percent in Q4 2009, partially counterbalancing a predicted 25 percent slide in print revenue, according to guidance it released today.
That doesn’t sound so bad, until you realize that the 10 percent growth in online accounts for about $6.8 million dollars, and the 25 percent loss in print represents a $72 million loss.
Still, these numbers represent a stabilization of sorts; in Q3, print revenues fell over 31 percent.
The Times Co. will save $475 million this year thanks to its cost cutting; including the closure of its City & Suburban distribution arm, which alone saved the company $110 million.
