Peter Kafka at AllThingsD reports on the New York Times’ earnings as a bellwether for digital advertising trends. Taken as a barometer for display revenues — I assume paid search is a minor contributor to the Time’s revenue stream as the channel is dominated by Google, et al — it indicates that display is holding its own during a period of general economic malaise and the old prevailing wisdom that display was dead as CPMs trended lower and click-throughs continued to deteriorate. The Times is fairly innovative without being obtrusive with its display inventory, so my take is they are seeing strong demand for their supply.
“Here’s the full breakout for the Times’ digital properties NYT.com About.com, etc, which appear to be doing pretty well:
Total Internet revenues increased 13.3 percent to $89.4 million from $78.9 million.
Internet advertising revenues increased 14.6 percent to $78.3 million from $68.3 million.
Internet advertising revenues at the News Media Group increased 21.6 percent to $47.4 million from $39.0 million mainly due to strong growth in national display advertising.
Internet businesses accounted for 16.1 percent of the Company’s revenues for the third quarter of 2010 versus 13.9 percent for the third quarter of 2009.”
Interesting fact – The Times has more Twitter followers than paid subscribers according to Journalistics:
“When it comes to Twitter followers, The New York Times is the top bird with more than 2.6 million followers. To illustrate how impressive this follower number is, The Wall Street Journal only has 464,591 followers in the #2 spot. The New York Times is the ONLY newspaper from the Top 25 with more Twitter followers than print circulation.”