Big papers’ Q3 digital revenues up 27-32% versus last year
Thursday, October 17th, 2002
“Revenues for New York Times Digital increased 26.8 percent in the third quarter to $18.2 million from $14.4 million in the year-ago quarter. Revenues improved as a result of stronger online advertising, especially in the technology, finance and travel categories. Advertising renewal rates were strong and new advertising formats continued to attract increasing advertiser interest. Overall online classified advertising rose with particular strength in real estate and autos. Operating profit was $2.8 million in the third quarter compared with $0.8 million in the year-ago quarter, primarily resulting from an increase in revenues.” Also, see color here.
And at Tribune Company, parent to the LATimes, Chicago Tribune and others, digital revenues were up 32% over the same quarter last year. “Third quarter revenue growth was due primarily to higher classified revenues: recruitment was up 31 percent, auto rose 30 percent and real estate increased 37 percent,” the company said in a press release. Print classifieds continued to slump, down 3 percent versus last year. “Help wanted revenue for the group was down 20 percent.” (Via LAExaminer.)