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The New York Times Co. exceeded expectations and bucked an industry trend by seeing a 6.7 percent rise in profit in the three months ended Sept. 30.
The good news comes thanks to gains in circulation revenue and better-than-expected advertising, writes the AP.
Circulation rose 3.9 percent, while ad revenues were down just 0.1 percent for the quarter - a better performance than most other newspaper publishers have turned in in recent months.
Ad revenues were up 5.5 percent in September, with national advertising - up 10.9 percent on gains from movie studios, financial services, and other categories - outweighing declines in retail (down 7.3 percent) and classified (down 14.4 percent).
In a note to clients, Goldman Sachs analyst Peter Appert said he was “pleasantly surprised,” and that the results were the “first positive signs of improved earnings trends from NYT in well over a year.”
Most newspaper publishers have reported weaker results this period, due to the toll a downturn in the housing market has had on real estate advertising.
TargetSpot has acquired online streaming ad rep firm Ronning Lipset Radio in a move that will form the largest audio advertising network and streamline the buying of online radio spots, the companies say.
TargetSpot is an online system for creating,…
FT Group, publisher of the Financial Times, saw total revenue leap 11% for the first nine months of 2008. Circulation and ad revenue grew, as did revenue from interactive data.
Ad revenue was up 1% over the first nine months…
Location-based services that allow marketers to connect with consumers wherever they are have long been considered the ideal in advertising. eMarketer is predicting that the opportunity will grow significantly in coming years, with the number of consumers using such services…
Comedy Central is building on the success of its two wildly popular fake-news programs, The Colbert Report and The Daily Show, adding a show called Chocolate News.
The new show will star David Alan Grier as the pompous host of…
Prices of list rentals are declining across the board and – for the first time ever - show a downward trend in every B2C and B2B category tracked, according to Worldata’s Fall 2008 List Price Index (see table), writes MarketingCharts.
Permission-based email…
Custom publications are being increasingly produced by specialty editors and designers (73%) rather than by those in communications roles, according to a study conducted by the Custom Publishing Council (CPC) in cooperation with Publications Management, writes MarketingCharts.
The survey, “Staffing and Compensation:…
