And Now For More Boston Globe Bashing - XVI

The HMS Titantic keeps taking on water...

The quarter showed the negative impact of the Times's introduction of a digital "paywall" to the New York Times and Boston Globe Web sites, limiting nonsubscribers' access to the sites.

The number of digital subscriptions at the Times, Globe and International Herald Tribune rose 11% from the second quarter to 592,000. That helped lift circulation revenue to $234 million, up 7.4% from the year-earlier quarter. But advertising revenue fell 8.9% to $182 million, primarily due to lower national display and real-estate classified revenue, the company said. Revenue slipped 0.6% to $449 million.

Both print and digital advertising contributed to the advertising decline—10.9% for print, and 2.2% for digital. The company blamed the digital advertising decline on a weak economy and price pressure caused by a glut of inventory and the rise of programmatic ad buying. The company expects the advertising outlook in the fourth quarter to be similar to the third quarter, it said.