Posted on 07/28/2016 8:03:35 AM PDT by mandaladon
July 28 (Reuters) - The New York Times Co reported its second quarterly loss in a row as print and digital advertising sales declined.
Print ad revenue fell 14.1 percent, the eighth straight quarterly decline. Digital ad revenue, which accounts for about a third of total ad revenue, dropped 6.8 percent, the second straight quarterly decline.
The Times posted a net loss of $211,000 attributable to shareholders for the second quarter ended June 26, compared with a profit of $16.4 million the year-earlier quarter.
On an adjusted basis, the company earned 11 cents per share from continuing operations, matching the average analysts' estimate, according to Thomson Reuters I/B/E/S.
"Advertising was tougher in the quarter, particularly on the print side," Chief Executive Mark Thompson said in a statement on Thursday.
"In digital, we saw very strong growth in mobile, video and virtual reality, branded content and programmatic advertising."
However, this was not enough to offset declines in traditional web display, which led to an overall decline in digital advertising, he said.
"We expect that situation to improve in the second half of the year; in fact, we are already seeing a marked turnaround in July," he said.
Like other newspaper and magazine publishers, the Times has found it difficult to cope with a steady decline in print ad revenue in recent years.
In an attempt to overcome this, the company has been pushing into digital offerings with investments in technology and initiatives such as distributing Google Cardboard virtual reality headsets to subscribers.
The Times has said that 2016 would be "an investment year" and that it would invest more than $50 million over the next three years to strengthen its digital presence outside the United States.
(Excerpt) Read more at finance.yahoo.com ...
ha ha maybe Jeff Bezos will buy them, too, to bolster his liberal media propaganda empire.
Death by a thousand cuts............in revenue...................
NYT will be declared “Too big to fail” and the “Government Of the People By The People And For The People(lol)” and the NYT will become the newspaper version of NPR.
Their “journalistic” mission will remain the same:
Spew the Globalist/Leftist-Government/’Rat Party propaganda like they always have - and force the people to pay for it.
Awwww...
Yikes, somehow my post got scrambled.
You know what they need? More negative Trump articles. I think that will do the trick.
I cannot remotely understand how that thing affords to stay in business.
USA Today is little more than Buzzfeed in print these days, and most other papers are barely putting out one edition a day.
“Little Pinch is deeply saddened.”
I just hope I can live long enough to be able to wake up one morning to read that Pinch’s relatives have put out a contract on him, and it has been “fulfilled!” I just imagine these worthless grifters are mightly pi$$ed off that they may have to go to work for a living thanks to Pinch.
The New York Times new public editor was correct:
“A paper whose journalism appeals to only half the country has a dangerously severed public mission. And a news organization trying to survive off revenue from readers shouldn’t erase American conservatives from its list of prospects.”
http://www.freerepublic.com/focus/f-news/3452311/posts
Lets hope the NYT’s goes into the dust heap of history.
” Digital ad sales falls for second straight quarter”
Hey, NYT, I know what to do: try making your paywall thicker and higher; I’m almost positive that will help with digital ad sales.
But the propaganda is sooooooooo important they will gladly take the loss.
Becoming? Try IS.
The main value of the old school newspapers is as a propaganda medium, and that is why leftist billionaires are willing to absorb losses to keep them afloat. When they lose value as a means to control the information environment and the political scene, these billionaires will cut their losses and walk away. If Trump is elected President, watch for more of the newspapers and magazines to go entirely to an online basis or close for good.
“Hoping the liberal rag goes out of business.”
Lib rags don’t die, they just slowly fade away as digital-only websites.
“Dumb to go to a pay site when all the same news is available elsewhere for free”
Exactly. Why PAY for lies when you can all you want for free!
Schadenfreude is die beste Freude!
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