New York Times Ad Revenue Drops

May revenue from continuing operations tumbles 8.5%.
Author:
Publish date:

New York Times

(NYT) - Get Report

posted an 8.5% drop in advertising revenue for May, pulled down by a weak performance in its flagship papers.

The publishing giant said Thursday that May ad revenue from continuing operations fell to $157.3 million from $171.9 million a year earlier. Total revenue from continuing operations, which includes circulation and other revenue, declined 5.8% to $243.5 million.

Ad revenue from Times' core news media division slid 9.9% in May to $149.8 million.

At the New York Times media group, which includes the company's namesake paper, ad revenue dropped 9.1%. The company said weakness in entertainment, transportation, technology, media and telecommunications advertising offset growth in the financial services, hotel, alcoholic beverage and corporate categories. Retail and classified advertising also fell.

The company's New England media division, which has been struggling over the past year, actually performed better than the New York region, though it still saw declines. The New England segment, which includes

The Boston Globe

, recorded an 8.8% drop in ad revenue.

The drops in the news division were minorly offset by a 33% surge in ad revenue from New York Times' Internet property About.com. Revenue rose to $7.4 million from $5.6 million, which the company attributed to increases in both display and cost-per-click advertising.