The New York Times has reported its slowest decline of advertising revenue in nearly a decade.
The New York Times Co. ended 2014 with its smallest decline in advertising revenue in nearly a decade, helped by firm gains in digital advertising that were driven by a growing native advertising unit and which offset a continued decline in print ad revenue.
Advertising revenue for the year dropped 0.7% to $662.3 million, the smallest decline since 2005, as a 4.7% slide in print advertising was offset by an 11.8% increase in digital advertising. About 10% of the year’s $182.2 million haul of digital advertising revenue came from the Times’s branded content studio, which opened last year, producing ads that resemble conventional news stories but are marked as “paid posts.”
For the fourth quarter, the Times Co. said advertising revenue declined 2.1% to 207.6 million, as a 19.3% increase in digital advertising revenue to $63.2 million partially offset a 9.2% decline in print advertising revenue to $144.4 million.
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