Circulation of newspapers has dramatically fallen over the last six months. Over all, average daily circulation dropped by 2.8 percent compared with the same period last year and circulation for Sunday papers fell by 3.4 percent. The NY Times highlights some of the biggest losers:
The Los Angeles Times lost 8 percent of its daily circulation and 6 percent on Sunday. The Boston Globe, owned by The New York Times Company, lost 6.7 percent of its daily circulation and almost 10 percent on Sunday.
The New York Times, one of the few big papers where circulation had held steady over the last few reporting periods, lost about 3.5 percent of its circulation both daily and Sunday. The Washington Post’s declines were nearly the same. The Wall Street Journal’s daily paper fell by less than 2 percent but its Weekend Edition, which comes out on Saturday, reported a 6.7 percent drop.
Meanwhile, the Financial Times is reportedly on course to make a double-digit profit and ts parent company Pearson says that it will produce a record result this year. The Independent reports:
At the FT, which has emerged from a severe downturn that plunged the newspaper into losses, advertising revenues climbed 10 per cent in the period. The title just broke into the black last year, with a £2m profit. Analysts said that yesterday’s update indicated that the newspaper will make some £13m in 2006.
The company said that the FT had attracted advertisers as a result of its global reach and “a series of product innovations” in print and online, such as a revamped How To Spend It quarterly magazine to go with the newspaper.
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