EX-99.2 3 a05-2193_1ex99d2.htm EX-99.2

Exhibit 99.2

 

 

Press Release

 

Contacts:

 

Catherine J. Mathis, 212-556-1981; E-mail: mathis@nytimes.com

 

 

Paula Schwartz, 212-556-5224; E-mail: schwap@nytimes.com

 

 

This press release can be downloaded from www.nytco.com

 

THE NEW YORK TIMES COMPANY
 
REPORTS DECEMBER REVENUES
 

NEW YORK, Jan. 25, 2005 – The New York Times Company announced today that in December 2004 advertising revenues for the Company’s business units increased 2.2% and total Company revenues increased 1.9% compared with the results for the same month in 2003.

 

“In January, advertising continues to be challenging and visibility remains limited,” said Janet L. Robinson, president and chief executive officer.  “The New York Times and The Boston Globe have experienced softness in the travel-related advertising categories, particularly hotels, and entertainment advertising, where the holdover from the holiday films has not been as robust as expected.”

 

Advertising results for December were as follows:

 

The New York Times Media Group – Advertising revenues for The New York Times Media Group increased 1.1% for December 2004 compared with December 2003, when advertising revenues rose 7.5%.  National advertising revenues decreased as weakness in studio entertainment, technology products and corporate advertising offset strength in books, banking, international fashion and American fashion advertising.  Retail advertising revenues increased due to growth in mass market/chain store and department store advertising.  Classified advertising revenues rose on gains in help-wanted and real estate advertising.

 

New England Media Group – Advertising revenues for the New England Media Group increased 3.6% for December 2004 compared with December 2003.  National advertising revenues decreased as weakness in telecommunications, studio entertainment and financial services advertising more than offset strength in national automotive and travel advertising.  Retail advertising revenues rose on strong growth in department store, sports/toys and jewelry/watch advertising.  Classified advertising revenues decreased as softness in automotive advertising offset gains in help-wanted and real estate advertising.

 

Regional Media Group – Advertising revenues for the Regional Media Group grew 4.4% for December 2004 compared with December 2003.  Retail advertising revenues increased due to strength in telecommunications, sports/recreation and department store advertising.  Classified advertising revenues increased as growth in help-wanted and real estate advertising offset softness in automotive advertising.

 


 

The Company’s Internet ad revenues, which are included in the figures for the three media groups above, increased 32.2% for December 2004 compared with December 2003 due to strong growth in display advertising and in all classified advertising categories.

 

Circulation revenues increased 0.9% for December 2004 compared with December 2003.  Circulation revenues increased for The New York Times Media Group but declined at the New England Media Group and the Regional Media Group.

 

Broadcast Media Group – Advertising revenues for the Broadcast Media Group increased 1.8% for December 2004 compared with December 2003 mainly due to growth in Internet revenue.

 

The New York Times Company (NYSE: NYT), a leading media company with 2004 revenues of $3.3 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com.  For the fourth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune’s 2004 list of America’s Most Admired Companies.  The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

 

# # #

 

2


 

THE NEW YORK TIMES COMPANY

2004 TOTAL COMPANY REVENUES (a)

DECEMBER AND FULL YEAR

 

Total Company Revenues

($ 000’s)

 

 

 

December

 

Full Year

 

 

 

2004

 

2003

 

%
Change

 

2004

 

2003

 

%
Change

 

Advertising Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

News Media

 

 

 

 

 

 

 

 

 

 

 

 

 

National (b)

 

$

79,434

 

$

81,697

 

-2.8

 

$

926,305

 

$

911,282

 

+1.6

 

Retail (c)

 

57,222

 

52,599

 

+8.8

 

490,474

 

471,225

 

+4.1

 

Classified (d)

 

35,380

 

34,533

 

+2.5

 

579,479

 

562,585

 

+3.0

 

Other Ad Revenue (e)

 

3,890

 

3,319

 

+17.2

 

44,727

 

36,929

 

+21.1

 

Sub-Total

 

175,925

 

172,149

 

+2.2

 

2,040,985

 

1,982,021

 

+3.0

 

Broadcast Media

 

11,318

 

11,118

 

+1.8

 

153,659

 

138,792

 

+10.7

 

Total Advertising Revenues

 

187,242

 

183,266

 

+2.2

 

2,194,644

 

2,120,814

 

+3.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Circulation Revenues

 

67,503

 

66,874

 

+0.9

 

883,995

 

885,767

 

-0.2

 

Other Revenues (f)

 

22,609

 

22,054

 

+2.5

 

225,003

 

220,619

 

+2.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Company Revenues

 

$

277,355

 

$

272,195

 

+1.9

 

$

3,303,642

 

$

3,227,200

 

+2.4

 

 

(a) Numbers may not add due to rounding.

(b) Includes all ad revenue from the International Herald Tribune.

(c) Includes all preprint revenues.

(d) Includes legal advertising.

(e) Primarily includes ad revenue from the Regional Media Group’s magazines.

(f) Primarily includes revenues from wholesale delivery operations, news services, direct marketing, digital archives and commercial printing.

 


 

THE NEW YORK TIMES COMPANY

2004 TOTAL COMPANY REVENUES (a)

FOURTH QUARTER

 

Total Company Revenues

($ 000’s)

 

 

 

Fourth Quarter

 

 

 

2004

 

2003

 

%
Change

 

Advertising Revenues

 

 

 

 

 

 

 

News Media

 

 

 

 

 

 

 

National (b)

 

$

263,706

 

$

267,483

 

-1.4

 

Retail (c)

 

159,679

 

147,912

 

+8.0

 

Classified (d)

 

135,448

 

131,695

 

+2.9

 

Other Ad Revenue (e)

 

12,878

 

10,957

 

+17.5

 

Sub-Total

 

571,711

 

558,045

 

+2.4

 

Broadcast Media

 

44,190

 

38,666

 

+14.3

 

Total Advertising Revenues

 

615,901

 

596,711

 

+3.2

 

 

 

 

 

 

 

 

 

Circulation Revenues

 

223,057

 

223,011

 

0.0

 

Other Revenues (f)

 

64,979

 

62,560

 

+3.9

 

 

 

 

 

 

 

 

 

Total Company Revenues

 

$

903,937

 

$

882,282

 

+2.5

 

 

(a) Numbers may not add due to rounding.

(b) Includes all ad revenue from the International Herald Tribune.

(c) Includes all preprint revenues.

(d) Includes legal advertising.

(e) Primarily includes ad revenue from the Regional Media Group’s magazines.

(f) Primarily includes revenues from wholesale delivery operations, news services, direct marketing, digital archives and commercial printing.

 


 

THE NEW YORK TIMES COMPANY

2004 ADVERTISING REVENUES (a)

DECEMBER AND FULL YEAR

 

Total Company Advertising Revenues

($ 000’s)

 

 

 

December

 

Full Year

 

 

 

2004

 

2003

 

%
Change

 

2004

 

2003

 

%
Change

 

News Media

 

 

 

 

 

 

 

 

 

 

 

 

 

New York Times Media Group (b)

 

$

107,564

 

$

106,392

 

+1.1

 

$

1,209,668

 

$

1,183,780

 

+2.2

 

New England Media Group (c)

 

39,779

 

38,383

 

+3.6

 

481,615

 

464,472

 

+3.7

 

Regional Media Group

 

28,581

 

27,374

 

+4.4

 

349,702

 

333,769

 

+4.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sub-Total

 

175,925

 

172,149

 

+2.2

 

2,040,985

 

1,982,021

 

+3.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadcast Media

 

11,318

 

11,118

 

+1.8

 

153,659

 

138,792

 

+10.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Company Ad Revenues

 

$

187,242

 

$

183,266

 

+2.2

 

$

2,194,644

 

$

2,120,814

 

+3.5

 

 

(a) Numbers may not add due to rounding.

(b) The New York Times, NYTimes.com and the International Herald Tribune.

(c) The Boston Globe, Boston.com and the Worcester Telegram & Gazette.

 


 

THE NEW YORK TIMES COMPANY

2004 ADVERTISING REVENUES (a)

FOURTH QUARTER

 

Total Company Advertising Revenues

($ 000’s)

 

 

 

Fourth Quarter

 

 

 

2004

 

2003

 

%
Change

 

News Media

 

 

 

 

 

 

 

New York Times Media Group (b)

 

$

347,684

 

$

340,911

 

+2.0

 

New England Media Group (c)

 

130,814

 

127,464

 

+2.6

 

Regional Media Group

 

93,213

 

89,670

 

+4.0

 

 

 

 

 

 

 

 

 

Sub-Total

 

571,711

 

558,045

 

+2.4

 

 

 

 

 

 

 

 

 

Broadcast Media

 

44,190

 

38,666

 

+14.3

 

 

 

 

 

 

 

 

 

Total Company Ad Revenues

 

$

615,901

 

$

596,711

 

+3.2

 

 

(a) Numbers may not add due to rounding.

(b) The New York Times, NYTimes.com and the International Herald Tribune.

(c) The Boston Globe, Boston.com and the Worcester Telegram & Gazette.

 


 

THE NEW YORK TIMES COMPANY

2004 NEWS MEDIA AD REVENUE GROWTH

BY CLASSIFIED CATEGORY

DECEMBER, FOURTH QUARTER AND FULL YEAR

 

 

 

% Change
Dec. ‘04
vs. Dec. ‘03

 

% Change
Q4 ‘04
vs. Q4 ‘03

 

% Change
2004
vs. 2003

 

 

 

 

 

 

 

 

 

News Media

 

 

 

 

 

 

 

Help-Wanted

 

+16.2

 

+13.3

 

+10.8

 

Real Estate

 

+6.6

 

+5.8

 

-0.8

 

Automotive

 

-10.1

 

-6.8

 

+2.7

 

 


 

THE NEW YORK TIMES COMPANY

2004 PRINT ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

DECEMBER AND FULL YEAR

 

 

 

December

 

Full Year

 

 

 

2004

 

2003

 

%
Change

 

2004

 

2003

 

%
Change

 

National (b)

 

215.3

 

228.5

 

-5.8

 

2,512.4

 

2,557.9

 

-1.8

 

Retail

 

616.2

 

619.8

 

-0.6

 

6,541.8

 

6,609.7

 

-1.0

 

Classified

 

644.4

 

669.2

 

-3.7

 

9,675.5

 

9,839.9

 

-1.7

 

Total ROP

 

1,475.9

 

1,517.5

 

-2.7

 

18,729.7

 

19,007.5

 

-1.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part Run/ Zoned

 

181.8

 

186.4

 

-2.4

 

2,215.6

 

2,121.0

 

+4.5

 

Total

 

1,657.7

 

1,703.9

 

-2.7

 

20,945.2

 

21,128.4

 

-0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preprints

 

312,245

 

296,041

 

+5.5

 

2,897,241

 

2,852,021

 

+1.6

 

 

(a) Advertising volume is based on preliminary internal data, which may be updated in subsequent reports and may not be indicative of advertising revenue or operating profit.  Numbers may not add due to rounding.

 

(b) Includes all ad volume from the International Herald Tribune.

 


 

THE NEW YORK TIMES COMPANY

2004 PRINT ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

FOURTH QUARTER

 

 

 

Fourth Quarter

 

 

 

2004

 

2003

 

%
Change

 

National (b)

 

709.7

 

750.7

 

-5.5

 

Retail

 

1,886.3

 

1,878.7

 

+0.4

 

Classified

 

2,310.1

 

2,390.7

 

-3.4

 

Total ROP

 

4,906.1

 

5,020.1

 

-2.3

 

 

 

 

 

 

 

 

 

Part Run/ Zoned

 

592.9

 

593.5

 

-0.1

 

Total

 

5,499.0

 

5,613.6

 

-2.0

 

 

 

 

 

 

 

 

 

Preprints

 

887,288

 

876,942

 

+1.2

 

 

(a) Advertising volume is based on preliminary internal data, which may be updated in subsequent reports and may not be indicative of advertising revenue or operating profit.  Numbers may not add due to rounding.

 

(b) Includes all ad volume from the International Herald Tribune.