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Though publicly traded publishers don't make it particularly easy to figure out how they're doing in the new media world, a perusal of the quarterly earnings reports released over the last two weeks indicates that newspaper-based web sites are seeing dramatic revenue growth, many in excess of 50 percent.

The only publishers that continue to report new media -- variously called "on-line" or "interactive" -- as stand-alone line items are Lee Enterprises Inc., Media General Inc. and Dow Jones Dow Jones

the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202]

See : Finance

Lee said that for its second quarter (which ended March 31), on-line revenue was up 28.4 percent, to $3.5 million, over the second quarter last year, and that on-line revenue for March was up 21.5 percent, to $1.3 million, when compared to the same month in 2004.

Media General said that at its Interactive Media Division -- which handles new media efforts for both its TV stations and its newspapers -- quarterly revenue was up 51.1 percent, to $4.5 million, over the same three months last year.

"The improvement is mainly attributable to continued strong classified advertising, up 52 percent, and higher local advertising revenues," the company wrote in its quarterly report. "The division's first-quarter loss of $826,000 was reduced by 50.7 percent from the first quarter of 2004."

Media General said that in March, "Interactive Media Division revenues rose 50.7 percent to a monthly record of $1.6 million. The growth was driven by a 45.4 percent increase in Classified advertising, reflecting continued strong liner upsell activity and special product revenue. Local advertising also was up significantly, reflecting continued success with new products."

DJ muddies the reporting waters somewhat in that it lumps revenue from its Newswires group -- which includes terminals placed on stock traders desks -- along with its Consumer Electronic Publishing An umbrella term for non-paper publishing, which includes publishing online or on media such as CDs and DVDs.   revenue. Nonetheless, the company said its electronic publishing revenue was up 35.7 percent in the first quarter, to $117.2 million, though that number was driven by recent acquisitions (including

"Excluding acquisitions, revenue was up eight percent, operating income Operating Income

The profit realized from a business' own operations.

This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit.
 increased 12.4 percent and operating margin Operating Margin

A ratio used to measure a company's pricing strategy and operating efficiency.

Calculated by:
 was up 90 basis points, to 22.2 percent," Dow Jones wrote.

At Belo Corp., the company has just completed moving all of its new media operations back into its "legacy operating companies" -- that's newspapers and TV stations -- and so the results data are no longer broken out as a line item.

The company did say in the narrative of its earnings release that, "Interactive revenues increased a healthy 26 percent for full-year 2004 and grew at an impressive 47 percent rate in the first quarter of 2005."

Similarly, though Knight Ridder
For the unrelated television series, see Knight Rider.

Knight Ridder (IPA: /ˈrɪdɚ/) was an American media company, specializing in newspaper and Internet publishing.
 continues to handle its new media functions under its Knight Ridder Digital operating unit operating unit

A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon
, it does not report the results of that unit independently. Ad revenue results are rolled into those reported for specific newspapers.

The company did say in its earnings release, though, that new media-related revenue was up $12.7 million, or 52.8 percent for the quarter.

Knight Ridder also reported that revenue at its Classified Ventures LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 -- the web sites,, and Homescape, in which KRI KRI Knight Ridder
KRI Kundalini Research Institute
KRI Key Risk Indicator
KRI Khlopin Radium Institute (Russia)
KRI Kapal Republik Indonesia (Republic of Indonesia Ship)
KRI Knowledge Research Institute, Inc.
 is a one-third partner with Gannett Co. Inc. and Tribune Co. -- was up 88 percent, year-over-year, to $107.1 million.

In its quarterly report, Tribune said that interactive revenue, which is reported as part of the income of the affiliated units, was "up 39 percent to $40 million due to strength in classified and banner/sponsorship advertising."

Gannett wasn't quite so forthcoming. All it would say was that, "In February, Gannett's consolidated domestic Internet audience share was 18.7 million unique visitors A count of how many different people access a Web site. For example, if a user leaves and comes back to the site five times during the measurement period, that person is counted as one unique visitor, but would count as five "user sessions.  reaching about 12.7 percent of the Internet audience according to Nielsen//NetRatings."

The New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 Times Co. sent out a release separate from its earnings report that addressed only the usage of its web site:

"The New York Times Co. reported today that for March, achieved a traffic record of 555 million page views, a 17-percent increase from March 2004, according to internal data," the company said. "Unique visitors increased to 15 million in March, up 10 percent from the previous year."

One doesn't even need to squint squint: see strabismus.  to see that new media revenue is thriving. Though there may still be some publishers out there who "don't get it," it is clear that certainly many, if not all, of the publicly traded companies publicly traded company

A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market.
 do and that they are leveraging more and more ways to make more and more money -- even as circulation and readership continue to decline.
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Geographic Code:1USA
Date:Apr 25, 2005
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