Revenue from digital advertising and direct marketing now account for about 40 percent of McClatchy’s advertising revenue, the company said in its third quarter earnings report Thursday. Overall, revenues were down 4.2 percent.
Advertising revenue fell 8 percent, but circulation revenue rose 6.5 percent over the same period in 2012. The company attributes the gain to its paywall plan, called the Plus Program, which it said is “exceeding expectations.”
In a statement accompanying the earnings release, McClatchy CEO Pat Talamantes said, “We now expect the program to generate between $27 million and $30 million in new revenues in 2013.” Audience grew at the company’s websites despite the paywalls, McClatchy says.
