EX-99.2 3 a05-6659_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

MARCH REVENUES

 

NEW YORK, April 14, 2005 – The New York Times Company announced today that in March 2005 advertising revenues for the Company’s business units decreased 1.5% and total Company revenues decreased 0.9% compared with the same month in 2004.  Excluding About.com, which was acquired on March 18, 2005, advertising revenues decreased 2.2% and total Company revenues decreased 1.3%.

 

“As anticipated, March’s advertising performance was affected by the timing of the Easter holiday, which fell in March this year but was in April last year,” said Janet L. Robinson, president and CEO, The New York Times Company.  “Easter Sunday is traditionally a time of reduced advertising at both The New York Times and The Boston Globe, the Company’s two largest properties.  Adjusted for the estimated effect of Easter, the Company’s March advertising revenue would have grown approximately 2%.

 

“To date in April, the Company’s overall rate of advertising growth is in the low-single digits, similar to what we saw in January and February rather than in March.”

 

Advertising results for March were as follows:

 

The New York Times Media Group – Advertising revenues for The New York Times Media Group decreased 2.2% for March 2005 compared with March 2004 when they increased 6.8%.  March’s performance was also affected by the shift of one issue of T Style magazine, a special supplement to The Sunday Times, which will be published in fiscal April this year versus March of 2004.

 

National advertising revenues decreased as weakness in financial services, telecommunications, corporate and advocacy advertising offset strength in media, pharmaceutical and book advertising.  Retail advertising revenues increased on strong growth in department store and fashion/jewelry store advertising.  Classified advertising revenues decreased as softness in the help-wanted and real estate categories offset gains in automotive advertising.

 

New England Media Group – Advertising revenues for the New England Media Group decreased 9.3% for March 2005 compared with March 2004 when they rose 12.8%.  National advertising

 



 

revenues decreased primarily due to weakness in banking, studio entertainment, national automotive and telecommunications advertising.  Retail advertising revenues decreased as growth in sports/toys and department store advertising was offset by softness in furniture/home furnishing, computer/office supply and retail services advertising.  Classified advertising revenues decreased due to softness in automotive, real estate and help-wanted advertising.

 

Regional Media Group – Advertising revenues for the Regional Media Group grew 6.8% for March 2005 compared with March 2004 when they increased 7.7%.  Excluding the North Bay Business Journal, which was purchased on February 1, 2005, advertising revenues increased 6.4%.  Retail advertising revenues increased due to strength in telecommunications, services, banking and financial advertising.  Classified advertising revenues increased as strong growth in help-wanted advertising offset softness in real estate and automotive advertising.

 

The Company’s Internet ad revenues, which are included in the figures for the three media groups above, increased 23.4% for March 2005 compared with March 2004 due to strong growth in display advertising and in all classified advertising categories.  For the first quarter Internet ad revenues grew 29.7%.

 

Circulation revenues for March 2005 were on a par with last year.  Circulation revenues increased at the Regional Media Group and The New York Times Media Group and declined at the New England Media Group.

 

Broadcast Media Group – Advertising revenues for March 2005 for the Broadcast Media Group were on a par with last year, as lower political ad revenue was offset by growth in local advertising.

 

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements.  These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by the Company’s various markets and material increases in newsprint prices.  They also include other risks detailed from time to time in the Company’s publicly-filed documents, including the Company’s Annual Report on Form 10-K for the year ended December 26, 2004.  The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

 

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, Boston.com and About.com.  For the fifth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune’s 2005 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.

 

# # #

 



 

THE NEW YORK TIMES COMPANY

2005 TOTAL COMPANY REVENUES (a)

MARCH AND YEAR TO DATE

 

Total Company Revenues

($ 000’s)

 

 

 

March

 

Year to Date

 

 

 

2005

 

2004

 

%
Change

 

2005

 

2004

 

%
Change

 

Advertising Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

News Media

 

 

 

 

 

 

 

 

 

 

 

 

 

National (b)

 

$

70,869

 

$

75,304

 

-5.9

 

$

228,042

 

$

231,894

 

-1.7

 

Retail (c)

 

37,880

 

35,688

 

+6.1

 

113,326

 

107,364

 

+5.6

 

Classified (d)

 

45,208

 

47,478

 

-4.8

 

146,186

 

146,684

 

-0.3

 

Other Ad Revenue (e)

 

4,958

 

4,149

 

+19.5

 

14,573

 

12,511

 

+16.5

 

Sub-Total

 

158,916

 

162,620

 

-2.3

 

502,127

 

498,453

 

+0.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadcast Media

 

10,415

 

10,443

 

-0.3

 

30,602

 

30,574

 

+0.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sub-Total

 

169,331

 

173,063

 

-2.2

 

532,729

 

529,027

 

+0.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About.com (f)

 

1,050

 

 

N/A

 

1,050

 

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Advertising Revenues

 

170,380

 

173,063

 

-1.5

 

533,779

 

529,027

 

+0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Circulation Revenues

 

68,419

 

68,568

 

-0.2

 

219,617

 

220,243

 

-0.3

 

Other Revenues (g)

 

18,455

 

17,916

 

+3.0

 

52,187

 

52,674

 

-0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Company Revenues

 

$

257,254

 

$

259,547

 

-0.9

 

$

805,583

 

$

801,944

 

+0.5

 

 


(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) Acquired March 18, 2005 (nine days of revenues).

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

 



 

THE NEW YORK TIMES COMPANY

2005 ADVERTISING REVENUES (a)

MARCH AND YEAR TO DATE

 

Total Company Advertising Revenues

($ 000’s)

 

 

 

March

 

Year to Date

 

 

 

 

 

 

 

%

 

 

 

 

 

%

 

 

 

2005

 

2004

 

Change

 

2005

 

2004

 

Change

 

News Media

 

 

 

 

 

 

 

 

 

 

 

 

 

New York Times Media Group (b)

 

$

95,630

 

$

97,798

 

-2.2

 

$

301,466

 

$

299,117

 

+0.8

 

New England Media Group (c)

 

33,482

 

36,910

 

-9.3

 

109,407

 

114,211

 

-4.2

 

Regional Media Group (d)

 

29,803

 

27,912

 

+6.8

 

91,254

 

85,125

 

+7.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sub-Total

 

158,916

 

162,620

 

-2.3

 

502,127

 

498,453

 

+0.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Broadcast Media

 

10,415

 

10,443

 

-0.3

 

30,602

 

30,574

 

+0.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sub-Total

 

169,331

 

173,063

 

-2.2

 

532,729

 

529,027

 

+0.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About.com (e)

 

1,050

 

 

N/A

 

1,050

 

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Company Ad Revenues

 

$

170,380

 

$

173,063

 

-1.5

 

$

533,779

 

$

529,027

 

+0.9

 

 


(a) Numbers may not add due to rounding.

 

(b) The New York Times, NYTimes.com, International Herald Tribune and WQXR-FM.

 

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

 

(d) Beginning in February 2005, includes the results of the North Bay Business Journal, purchased Feb. 1, 2005.  Excluding the North Bay Business Journal, advertising revenues were up 6.4% in March and 6.7% year to date.

 

(e) Acquired March 18, 2005 (nine days of revenues).

 



 

THE NEW YORK TIMES COMPANY

2005 NEWS MEDIA AD REVENUE GROWTH

BY CLASSIFIED CATEGORY

MARCH AND YEAR TO DATE

 

 

 

 

% Change

 

% Change

 

 

 

March ‘05

 

YTD ‘05

 

 

 

vs. March ‘04

 

vs. YTD ‘04

 

 

 

 

 

 

 

News Media

 

 

 

 

 

Help-Wanted

 

-0.2

 

+5.3

 

Real Estate

 

-6.8

 

-1.2

 

Automotive

 

-11.1

 

-8.4

 

 



 

THE NEW YORK TIMES COMPANY

2005 PRINT ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

MARCH AND YEAR TO DATE

 

 

 

 

March

 

Year to Date

 

 

 

 

 

 

 

%

 

 

 

 

 

%

 

 

 

2005

 

2004

 

Change

 

2005

 

2004

 

Change

 

National (b)

 

188.4

 

199.2

 

-5.4

 

589.1

 

623.9

 

-5.6

 

Retail

 

520.1

 

503.6

 

+3.3

 

1,559.3

 

1,542.5

 

+1.1

 

Classified

 

736.7

 

771.2

 

-4.5

 

2,339.7

 

2,383.2

 

-1.8

 

Total ROP

 

1,445.1

 

1,474.0

 

-2.0

 

4,488.1

 

4,549.5

 

-1.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part Run/Zoned

 

153.1

 

168.2

 

-9.0

 

482.2

 

523.5

 

-7.9

 

Total

 

1,598.2

 

1,642.3

 

-2.7

 

4,970.3

 

5,073.1

 

-2.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preprints

 

221,526

 

214,152

 

+3.4

 

688,071

 

654,482

 

+5.1

 

 


(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.