Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 1, ended Jan. 30, 2005. Consolidated revenues for the period were $477 million, up 0.2 percent from last year’s $476 million.
Publishing revenues in January were $371 million, 2.0 percent higher than last year’s
$364 million. Advertising revenues increased 3.9 percent to $289 million, compared with $278 million in January 2004. Total advertising inches were flat, while preprint pieces increased 13 percent. Excluding New York, which implemented lower ad rates as the result of the significant reduction in reported circulation in September 2004, advertising revenues were up 5.5 percent.
- Retail advertising revenues increased 4.2 percent due to strength in the department store, furniture/home furnishings and other retail categories, partially offset by weakness in the hardware/home improvement and education categories. Preprint revenues, which are principally included in retail, were up 10 percent.
- National advertising revenues increased 2.4 percent as strength in the financial, telecom and auto categories was partially offset by weakness in the transportation and technology categories.
- Classified advertising revenues rose 4.7 percent due to gains in help wanted and real estate, which were up 10 and 12 percent, respectively. Auto classified advertising fell 2 percent. Interactive revenues, which are primarily included in classified, were $12 million, up 27 percent, due to strength in all categories.
Circulation revenues were down 7.6 percent primarily due to declines at the Los Angeles Times and Newsday. Los Angeles was impacted primarily by reductions in home delivery. Newsday was affected by the significant reduction in reported circulation in 2004. Excluding the Los Angeles Times and Newsday, circulation revenues were down 3.9 percent.
Broadcasting and Entertainment group revenues in January were down 5.6 percent to $106 million, compared with $112 million last year. Television revenues decreased 5.3 percent. Television revenue was generally soft across most markets and, as noted during the company’s 2004 fourth quarter conference call, New York, Los Angeles, Chicago, and Boston were also impacted by Local People Meters. Weakness in movies, retail and auto was partially offset by increases in education and healthcare. Radio/entertainment revenues fell 12 percent due to fewer syndicated shows being produced by Tribune Entertainment Company, offset by a 5 percent increase in radio.