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article imageThe New York Times delivers 13th consecutive quarterly loss

By Michael Krebs     Feb 8, 2014 in Business
The New York Times Company delivered another quarterly loss - its 13th consecutive quarterly decline - citing an extra week in 2012 and investments the company made in 2013.
In the advertising business, Q4 is typically a period marked by considerable growth - as marketers spend in support of the holidays and as advertisers release the remains of their annual budget. However, the Q4 upswing appears to have passed The New York Times Company (NYT) behind.
Earlier this week, the Times reported its Q4 and 2013 calendar earnings, turning in another quarterly loss and marking its 13th consecutive quarterly decline.
While the company witnessed gains in digital subscriptions, it experienced a revenue decline of 5.2 percent in Q4 2013 from Q4 2012, according to Capital New York. And even with the gains seen in digital subscriptions, total circulation revenue was down 3.9 percent. In the quarter, print advertising advertising revenue was down 6.3 percent, and digital advertising revenue 6.5 percent.
In an explanation for the shortfall, the company cited the additional week in Q4 2012 and investments made in 2013.
Reporting on its results, the New York Times positioned the quarterly losses as slower ad declines.
“Our 2013 results reflect progress in some of the fundamentals of our business,” Mark Thompson, CEO of The New York Times Company, said.
In Q1 2014, The New York Times stepped into the digital content marketing space, offering a native advertising solution on its flagship digital property. It is not yet known how successful the company's native approach will be, but stopping the bleeding in 2014 and reversing the disappointing trends on the 13 consecutive quarterly losses are certain to dominate Thompson's objectives.
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