As The NYT Shrinks, The Internet Now Brings Nearly A Quarter Of Its Advertising Revenues
It was another bleak quarter for the New York Times, which keeps on shrinking. The New York Times announced third quarter earnings this morning. Total revenues were down 17 percent to $571 million. Of that advertising revenues decreased 27 percent
The earnings report follows yet more newsroom cuts of 100 people announced last week.
There is a ray of hope, though, that the worst may be behind the storied newspaper company. Last quarter, advertising revenues declined an even steeper 32 percent, and online advertising was down 15.5 percent. So maybe this is the first step on its way back to positive territory.
source: techcrunch
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