Advertising revenue at regional publisher Newsquest were down 5pc in the second quarter of this year, its latest results have shown.
Parent company Gannett has just published figures for April to June this year, which show that advertising revenues were down 5.2pc year-on-year, while digital revenues were up 10.1pc.
The second quarter results show that retail advertising dropped 4.1pc, national advertising rose by 2.6pc and classified was down 7.1pc compared to the same period last year.
Within the classified category, motors advertising fell by 14.1pc, jobs were down 4.3pc and property was down by 8.1pc.
The report said Newsquest’s websites attracted 87m monthly page impressions from about 10m unique users in June this year.
For Gannett’s US publishing division, advertising revenues were down 8.3pc, while digital revenues were 29.3pc higher.
Gracia Martore, president and chief executive officer, said, “Gannett is making measurable progress in implementing our growth strategy. We are pleased with the early results of these efforts and look forward to strong progress in the second half of the year.”
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growth strategy? Am I living in a parallel universe?
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According to the Gannett report: “Newsquest’s profitability, in pounds, was higher as well due to revenue initiatives and continued cost containment.”
But staff are facing a 4th year in 5 of pay freeze, with a below inflation rise given in some regions in the one year of no freeze.
Sounds to me like “well done profit is up, but you can’t have a rise until you turn ad revenue around”…
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Actually this is the best set of advertising quarterly results for some time. It sets quite a benchmark for Northcliffe, Trinity and Johnston Press to be compared against. There will be some anxious bigwigs.
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