The company said it has "begun to see see some economic impact" from the virus. The New York Times Company's CEO and President Mark Thompson plans to comment on the virus' impact Monday morning at the Morgan Stanley Technology, Media and Telecom Conference, the filing says.The filing also says that the company's subscription business is expected to continue growing, despite the adveritsing headwinds.
"Unlike many news publishers, our business is heavily skewed towards subscriptions rather than advertising," the filing says. "We've seen no adverse impact on subscription growth, or on the expected rise in subscription revenue, which remains strong and consistent with the guidance we gave in our most recent earnings call."
However, the company said it's seeing a slowdown in international and domestic advertising bookings which it is associating with the virus. The New York Times expects total advertising revenues to decline "in the mid-teens" in the current quarter, with digital ad revenues expected to decline 10%. The company said it doesn't intend to provide further updates on guidance until it releases first-quarter 2020 results in May.
Making up news and printing lies wouldn't have anything to do with a slowdown in ads, would it?
Can we just stipulate that temporary slowdowns are occurring everywhere?
Well....
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