New York Times expects to grow online revenue by 30%

by Staff, Brand Republic 07-Mar-07, 15:15

NEW YORK - The New York Times is predicting a 30% increase in online revenue to around $350m this year, according to the newspaper's chief executive Janet Robinson.

The title, which is expecting print revenues to drop this year, said its online revenues will make up around 10.6% of the $3.3bn analysts expect the group to earn this year.

Robinson said: "We expect digital revenues will grow approximately to about $350m," adding that the possibility of more digital acquisitions had not been ruled out this year, but incremental growth in web traffic was going to be the key focus.

She added: "In January, the New York Times Company was the eleventh most visited parent company on the web, with approximately 43m unique visitors."

Last year, the group pulled in $273.9m from online revenue, making up an 8% share of its total revenue generation. Continuing investment and partnerships are expected to contribute to a healthy further growth in the sector.

The company has experienced steady growth in its online assets over the last few years, increasing its total revenue generation from 4% in 2004, to 6% in 2005 and 8% last year.

The $410m acquisition of consumer portal About.com last year has helped the company increase its market share according to Robinson.

"It excels at optimising content for search. By increasing the exposure of content through search, we are attracting additional users."