Earnings: DMGT Sees Ad Freefall Slowing
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Could green shoots of recovery be sprouting for newspaper publishers? In a trading update for the 11 months to August 31, ahead of its full-year results on November 26, DMGT said its regional publisher Northcliffe saw ad revenue fall 31 percent. But the declines are slowing - July and August were down 26 percent and September was better than that, with property revenue improving.
And in Associated, the nationals division, July and August were down by 21 percent, but September by only 16 percent.
The publisher says the drastic declines at its newspapers have been “stabilised” - but due to £150 million worth of savings and the cutting of 1,500 jobs across national and regional titles, 15 percent of the workforce.
Group-wide, revenue fell less, at nine percent year on year. That’s because DMGT nowadays takes more than half its revenue from non-newspaper businesses. Its B2B sales are up two percent.
Posted In: Media & Publishing, Companies, DMGT
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