The New York Times Co. released its financial results for the latest quarter Wednesday (PaidContent has a good overview), and it was pretty much the same picture as in previous quarters, but painted with a newer brush: advertising revenue is growing online, but nowhere near fast enough to make up for the downturn in newspaper ad revenue. As a result, ad revenues overall were down 5.7 per cent over the same quarter the previous year, despite a growth in Internet revenue of 27 per cent, including an online ad revenue increase of 22 per cent. This is a story that my friend Scott Karp of Publishing 2.0 has told before and will likely be told again.
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