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 $3.3 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com. For the fourth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune’s 2004 list of America’s Most Admired Companies. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.
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2
THE NEW YORK TIMES COMPANY
2004 TOTAL COMPANY REVENUES (a)
DECEMBER AND FULL YEAR
Total Company Revenues
($ 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.
