NYTCO 2Q revenues down but paywall promising

New York Times reported its total revenues in the second quarter down 2.2 percent to $576.7 million year-over-year, mostly because of the 4-percent drop in overall advertising revenues to $302.3 million, Media Post reported.

The decline was partly due to the 6.4-percent drop in print ad revenues.

Retail advertising and classifieds dropped 8.9 percent and 8.1 percent to $60.6 million and $46.5 million, respectively, while national advertising gained 1.8 percent to $159 million.

Total digital ad revenues rose 2.6 percent to $84.6 million, thanks to a 15.5-percent boost at the company’s News Media Group.

Most significantly, NYTimes.com’s new paywall contributed significant revenues, which is expected to bring in $34 million by the end of the year, according to Outsell analyst Ken Doctor.

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