Even the venerable New York Times isn’t immune to the newspaper slump. From The Wired Blog Network:
Compared to last July, total revenues from continuing operations decreased 10.1 percent, advertising revenues decreased 16.2 percent and circulation revenues decreased 0.5 percent.
Print ad sales were the killer once again, and all is pretty much in line with last month’s report, except for online.
Total Internet revenues grew only 2.6 percent and Internet advertising revenues increased only 5.5 percent. Last month these numbers were a lot higher, at both 11.7 percent and 18 percent respectively.
This is not a good sign when papers are now looking at the Web to boost ad sales.
Online ad revenue simply can’t make up for the loss of print ad revenue. And that seems to be the case for all newspapers. So what’s the answer? Publish less than 7 days a week? Less reporters? Reading a paper online is great, but somebody’s gotta pay for it.