Things are looking up at the New York Times Co., but not at its Boston outpost. The Associated Press reports that company-wide advertising was up 4.4 percent in May. The story continues:
In the news media group, advertising revenue rose 5.6 percent at its New York Times group and 7.1 percent at its regional segment, while ad sales slipped 6.9 percent at its New England media unit.
The New England unit comprises the Boston Globe and the Worcester Telegram & Gazette. (Via Romenesko.)
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Wes
How many dollars, one wonders, have been lost directly due to the demise of Filene’s?
Anonymous
And how many, one wonders, have been lost directly due to the fact the product sucks?
very curious
So are you ever going to substantiate your characterization of the Globe as “money losing” or is that just another blog claim to be treated as true without anything remotely resembling reporting
Anonymous
I call it the “French waiter syndrome”.It’s not wise to insult those whose money provides your livelihood. I’m pretty sick of pontificating socialists…
Dan Kennedy
Curious — I believe I’ve explained this before, but I don’t want newcomers who might have missed it to accept your claim. I have a first-hand, high-ranking source who told me that directly and who didn’t’t want his or her name used. I also know two other people who’ve been told exactly the same thing by *their* sources at the Globe. Now, remember, this was several months ago. I’m sure the money-losing situation was temporary, and it may have resolved itself by now — although obviously the ad situation continues to deteriorate.
Todd Wallack
Actually, I’m not sure it’s fair to say the “ad situation continues to deteroriate.” It’s true that ad sales were down 6.9 percent in May year-over-year. But ad sales have actually gone up since February. Ad sales were $33.6 million in May 2006 vs $31.2 million in February 2006. Remember: In February, NYT Co. reported that revenues at the New England Media Group were down 12 percent year-over-year. By contrast, it was down 6.9 percent in May (and down 8.6 percent overall year-to-date). This is still poor, but not quite bleak as it looked in February.