Advertising revenues at regional publisher Newsquest were down nearly 8pc for the last three months of 2010, its latest results have revealed.
Figures published by its US parent company Gannett for the fourth quarter of last year show advertising at Newsquest was down 7.9pc year on year.
The statement shows most sectors had a fall in revenue, although it does report that digital revenues rose.
Figures published yesterday show that retail advertising revenues fell 5.9pc, national advertising dropped by 1.6pc and classified fell 10.2pc, compared to the same period in 2009.
And within the classified advertising sector, employment fell by 21.3pc, motors revenue fell 5.7pc and housing fell by 3.6pc year on year.
In Gannett’s US publishing division, advertising revenues were down 4.8pc.
Last week, staff at Newsquest titles in Wales, the South Midlands and Gloucestershire were asked to take a week’s unpaid leave this year to help the company control its costs.
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Can I just point out that you’ve posted this in the wrong section? It should be under Newspaper Funnies with the headline: Newsquest bosses pay themselves more while company goes under.
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I know why this has happened. Penny-pinching = lower pay; lower pay = less professionalism; less professionalism = bad papers; bad papers = fewer readers; fewer readers = less advertising; less advertising = penny-pinching; penny-pinching = lower pay… and so it goes on. Put money in, get money out. Only Newsquest is to blame for this.
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All former Newsquest journies have their own view about the demise of the company; its prospects and the abhorrent way it is treating its staff. But in the light of falling advertising revenue consider this Mr Davidson: there are few communities where Newsquest publish on their own; in these communities readers have seen, and heard, how Newsquest are closing offices, making journalists redundant, the very same journalists who are known and respected in their towns. Is it not surprising then that some, if not many of the large and small advertisers in these areas are choosing to place their cash elsewhere, keeping with their their ‘local’ papers and community. If there is any truth in this observation then the future for Newsquest is bleak, very bleak, and my heart goes out to those that are still left. Remember King Canute!
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