Circulation revenue up at Gannett, which credits paywalls
Gannett's fourth quarter earning report contains a sentence that will thrill paywall apostles:
Significantly higher circulation revenue in the Publishing segment resulting from the positive impact of the all access content subscription model more than offset a decline in advertising revenues.
That's attributed to CEO Gracia Martore, who also notes circulation revenue increased for the third quarter in a row. Total digital revenue represented 25 percent of the company's total revenues, she says in the release.
Gannett last February announced a plan to install paywalls at all its newspapers except USA Today.
Publishing advertising in the fourth quarter of 2012 was down 2 percent over the same period the year before. Circulation revenues were up nearly 17 percent. Digital revenues were up 3.2 percent. And broadcasting revenues were up 43.9 percent. Over all, revenues were up 9.4 percent over the fourth quarter of last year.
The report also gives figures for the full year: Publishing advertising down 6.2 percent over 2011, publishing circ up 5 percent, digital up nearly 5 percent, broadcasting up 25 percent.
The fourth quarter of 2012 had one more week than the fourth quarter of 2011. A conference call to discuss the fourth-quarter results is planned for 10 a.m. ET Monday.