Print advertising revenues at the New York Times Company fell 7.2 per centCredit: Joe Shlabotnik on Facebook. Some rights reserved.
Digital advertising revenues at the New York Times Company fell by $8 million in the first quarter of 2012 compared to the previous year, with a $1 million drop within the News Media Group.
According to results released today by the publisher of the New York Times, total revenue for the company dropped just 0.3 per cent, with a 7.2 per cent fall in print advertising revenues.
Digital advertising revenues fell 10.3 per cent, from from $79.3 million to $71.1 million, across its digital businesses, which includes NYT.com, BostonGlobe.com, Boston.com and About.com.
The company said this fall was "largely due to declines at the About Group".
Within the News Media Group digital advertising revenues fell 2.3 per cent to $48.5 million, which the company said was "mainly due to declines in national display and classified advertising revenues".
"Digital advertising revenues as a percentage of total News Media Group advertising revenues were 22.5 per cent in the first quarter of 2012 compared with 21.7 per cent in the first quarter of 2011."
Circulation revenues for the New York Times Company as a whole increased 9.7 per cent. The company added that "the addition of digital subscription offerings and the increase in home delivery and weekday single-copy prices in January 2012 at the Times offset a decline in print copies sold across the News Media Group".
Overall revenues for the News Media Group rose by 1.3 per cent to $475.4 million, while advertising revenues dropped by 6.1 per cent. Similarly to the company's overall results circulation revenues in the News Media Group also increased by 9.7 percent.
Last month the New York Times confirmed it had around 454,000 paying subscribers across its digital subscription packages for the New York Times and International Herald Tribune, a year after NYT.com launched its online part-paywall.
The company said this represents an increase in paid subscribers of around 16 per cent since the end of the final quarter of 2011.
The BostonGlobe.com and its "e-readers and replica editions" saw its digital subscribers reach around 18,000 on 18 March, "up approximately 13 per cent since the end of the fourth quarter of 2011".
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