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Digital advertising, once touted as the savior of newspaper publishing, is proving to be yet another drag for many companies’ bottom lines.
The New York Times Co. announced that its digital ad revenues slipped again in the second quarter of the year, marking two consecutive quarters of year-over-year declines.
NYTCO reported that total digital ad revenues sank 6.8% to $45 million in the second quarter, which president and CEO Mark Thompson attributed to a drop in traditional Web display advertising, canceling out growth in newer digital ad categories including mobile and video.
The digital decline compounded print losses, down 14.1%, for a total ad revenue decline of 11.7%, to $131.2 million.
The ad declines were partially offset by continued growth in circulation revenues, due mainly to the success of NYTCO’s digital subscription strategy, with total circ revenues up 3% to $219.5 million....
NYT's digital ad revenues dropped for the second quarter in a row . What's ahead?