Breaking news in the Wall Street Journal today on the state of the newspaper industry: it's still bad. Ad revenues? Not looking up. Layoffs? Sure, more could be coming. If only there was one bright spot in this beleaguered industry...
Total advertising revenue for the fiscal year at Dow Jones, of which the Journal is the primary part, was nearly 12% higher than the year earlier, according to Dow Jones & Co. president Todd Larsen, in a note to staff. Circulation revenue increased more than 13% for the year.
In the segment of the New York Times Co. that consists primarily of the flagship paper, ad revenue declined less than 1% to $183.9 million in the second quarter.
Haha! Well? Prove them wrong.