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Living In Denial At The New York Times

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by Jeff Bercovici
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Sep 02 2008 4:04pm EDT

Living in Denial at 'The New York Times'

How long can The New York Times continue to exist as an ink-and-paper entity? Web czar Vivian Schiller tackles that question as part of the paper's "Talk to the Times" series -- but not very convincingly.

"First, newspapers are not going anywhere," writes Schller. "Advertising revenue may be in decline, but publishing newspapers is still a very profitable business and we intend to keep our presses running for a long time to come.

"Second, online advertising revenue is increasing at a double-digit clip, and with our brand and audience we're well positioned to capture our fair share."

Schiller's only half-right on both counts. Publishing newspapers is still a very profitable business -- but not for the Times, which has to borrow money to pay its crippling dividend. And online ad revenue is increasing at a double-digit clip -- but not at the Times, where they were up only 5.5 percent in July.

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Disclosure: The Times recently published a freelance piece I wrote.

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