Articles about "Earnings reports"


Ad revenue down at McClatchy

The McClatchy Co.

Advertising revenue was down 7 percent in the second quarter of 2014 at the McClatchy Co., which released earnings Thursday. “Audience” revenue, which is what McClatchy now calls circulation revenue, was up about 5 percent. Excluding revenue from McClatchy’s change to fee-for-service circulation delivery contracts at some newspapers, circulation revenue was down about 3 percent.

“Still, we continued to see growth in direct marketing and digital advertising revenues and together these two sources accounted for 43% of our total advertising revenue in the quarter,” McClatchy CEO Pat Talamantes said in a statement.

McClatchy’s results include $146 million it made by selling its share of Apartments.com and, “to a lesser extent,” its share in in McClatchy‑Tribune Information Services. Tribune bought out McClatchy’s share in MCT in May.… Read more

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Earns Gannett

Circulation revenue rises at Gannett’s local papers

Good morning. Here are 10 (OK, perhaps slightly more than 10) media stories.

  1. Gannett had a good second quarter: Broadcast revenue was “almost 88 percent higher in the quarter compared to the second quarter last year.” Publishing advertising revenue fell about 5 percent; circulation was roughly flat, and “At local domestic publishing sites, home delivery circulation revenue was up in the quarter due, in part, to strategic pricing actions associated with enhanced content.” (Gannett)
  2. Washington Post fights the “wonk wars”: The Washington Post’s new “Storyline” project is “dedicated to the power of stories to help us understand complicated, critical things,” Editor Jim Tankersley writes. (The Washington Post) | Michael Calderone takes a look: “It’s unlikely The Post would’ve launched a project like Storyline a few years ago.” (HuffPost) | Tankersley writes that as a college student he was inspired by Richard Read‘s 1998 series about french fries: “Those stories brought the crisis home in a way no textbook or straight news piece could, because at each step, they showed how global trends touched people’s lives and livelihoods.” (The Oregonian)
  3. Why corrupt politicians should avoid Vermont: Vermont has the best-covered legislature in the country, and California has the worst, Pew finds.
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At Tribune, broadcasting up and publishing down

Tribune Co.

Broadcasting revenues were up 67 percent and publishing revenues were down 3 percent in the first quarter of 2014, the Tribune Co. announced in an earnings report Tuesday. Both figures are in comparison to the same period the year before. Tribune completed its purchase of Local TV Holdings, which owned 39 stations, late last year.

The decline in publishing revenues was “primarily attributable to declines in advertising revenue of $19.3 million and declines in revenues from commercial printing and delivery services of $4.1 million,” the report said. In a discussion of results, Tribune also said it had “identified reductions in its staffing levels of approximately 65″ positions in the first quarter and recorded severance expenses “primarily at publishing” operations.

Tribune plans to spin off its publishing division this year.… Read more

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McClatchy explains change in circulation revenue

The McClatchy Company

Circulation revenue was up nearly 6 percent in McClatchy’s first quarter, the company said in a report Wednesday. But, the report said, that revenue was up less than 1 percent “excluding the $4.3 million in revenue related to the transition to fee-for-service circulation delivery contracts at certain newspapers.”

Reached by email, McClatchy Director of Investors Relations Ryan Kimball said some of the company’s newspapers “transitioned to a different circulation contract” during the first quarter. The contracts are fee for service, which for accountants means their “delivery expenses are no longer netted against circulation revenues and thus makes the reported circulation revenue higher.” So some of the papers had higher revenues and higher delivery expenses, he said. The change “has no impact on operating income or cash flow but we do point it out so investors can get a sense of what circulation revenues did in a given period ignoring the impact of the transition.”

Advertising reveue was down nearly 7 percent compared with the same period in 2013, McClatchy said in its report.… Read more

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Gannett’s broadcast revenue soars, circulation revenue slips

Gannett | USA Today

Revenue from broadcasting in Gannett’s first quarter just about doubled over the same period a year earlier, the company announced in an earnings report Wednesday. Gannett attributed the 99.5 percent rise in broadcast revenue to its acquisition of Belo, as well as Winter Olympics, political advertising and retransmission revenue.

On a pro-forma basis (making comparisons as if Gannett had acquired Belo’s stations at the beginning of last year), retransmission revenue was up 66 percent over the first quarter of 2013.

Revenue at Gannett’s publishing properties was down 3.3 percent overall for the quarter. Advertising revenue was down about 5 percent worldwide and about 6 percent in the U.S., and circulation revenue fell by 1.4 percent, which the company attributes in part to “lower circulation revenue at local domestic publishing operations.”

Looking at the company’s fourth-quarter results earlier this year, Poynter’s Rick Edmonds wrote that squishy circulation figures raised “the concern that capturing revenue from new digital subscribers and pairing ‘all access’ print/digital bundles with a big price increase could be a one-time revenue event.”

In a statement accompanying the release, President and CEO Gracia Martore said USA Today’s “butterfly edition” in local papers “continues to gain significant traction with subscribers.” In a conference call with analysts for fourth-quarter results, Edmonds reported, Martore said the expanded USA Today offering “could provide the rationale for another round of price increases” later this year.… Read more

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Publishing businesses contributed to revenue gain at former Washington Post company

Graham Holdings Company

Revenue from businesses including Slate, Foreign Policy and the advertising agency SocialCode was up 77 percent at Graham Holdings Company in 2013, the company said in its year-end earnings report.

That double-digit revenue rise was “due to growth at SocialCode and Slate and revenue from the Company’s recently acquired Celtic Healthcare and Forney businesses,” Graham Holdings says. Graham Holdings used to be The Washington Post Co. before it sold its flagship asset to Jeff Bezos last year. Forney makes control systems for combustion processes and Celtic Healthcare is a hospice firm.

Revenue from Graham’s cable-TV division was up 3 percent for the year and revenue from its TV broadcasting division, which includes stations in Detroit, Houston and Miami, was down 6 percent, with a decrease in political advertising revenue offset in part by higher retransmission fees, the company said.… Read more

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McClatchy ends year with circulation revenue up

McClatchy

Circulation revenue in 2013 was up 5 percent over the previous year, McClatchy said in its fourth-quarter and year-end earnings report. Total advertising revenue was down 6.7 percent across the company’s platforms, and down about 9 percent in print.

After taxes, McClatchy made $8.2 million on its sale of the Miami Herald’s property, the report notes. Compensation expenses were down about 7 percent compared with 2012. Revenue from McClatchy’s digital subscription program, called Plus, “provided more than $8.8 million in new revenues in the quarter and $31.4 million in total for all of 2013,” the report said. The company says it has 60,300 digital-only subscribers.… Read more

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New revenue at Dallas Morning News offsets majority of print-revenue declines

A.H. Belo

At The Dallas Morning News, revenue from new businesses “offset about 60 percent of the core print advertising revenue declines in the fourth quarter and about 70 percent of these declines for the full-year 2013,” A.H. Belo CEO Jim Moroney said in the company’s fourth-quarter and full-year earnings report Wednesday.

Digital revenue at the Morning News was up 9 percent in 2013, “primarily due to the continued growth in marketing services revenue associated with 508 Digital and Speakeasy,” the report says. 508 Digital is an agency set up to sell “digital solutions” to local businesses and Speakeasy is a joint venture with an ad agency intended to “create and manage campaigns for local and national brands.”

The company’s overall digital revenue was up only 7 percent, though, offset by losses at The Providence Journal, the report says.… Read more

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Lighted globes mark the loading docks of the New York Times building, Monday Jan. 23, 2005. Newspaper publisher New York Times Co. reports earnings for the fourth quarter on Tuesday, Jan. 24. The Times, which also owns the Boston Globe and International Herald Tribune, said in December it expects fourth-quarter earnings of 45 cents to 47 cents per share, sharply below year-ago profit of 75 cents, due to the difficult advertising environment. (AP Photo/Richard Drew)

New York Times digital subscriptions grew 19% in 2013

The New York Times Company | The New York Times

The number of digital subscriptions to New York Times Company products grew from 640,000 at the end of 2012 to 760,000 at the end of 2013, a gain of nearly 19 percent. Revenue from circulation was up about 4 percent over the previous year, the company’s year-end earnings report says.

Print advertising revenue was down 7 percent for the year, and digital advertising fell a little more than 4 percent over 2012. Over all, advertising revenue was down a little more than 6 percent.

Other revenue, which the company says includes “news services/syndication, digital archives, rental income and conferences/events,” dropped 2.5 percent.

In the fourth quarter of 2013, circulation revenue was down about 4 percent and ad revenue was down about 6 percent.… Read more

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In this July 14, 2010 file photo, the sign for Gannett headquarters is displayed in McLean, Va. Gannett said Thursday, June 13, 2013, it reached a deal to buy TV station owner Belo for about $1.5 billion in cash, significantly boosting its presence in broadcasting. (AP Photo/Jacquelyn Martin, file)

Gannett earnings report hints at a coming problem with paywalls

By virtue of tough expense control and the acquisition of Belo Corp. TV stations, Gannett reported decent fourth quarter and full-year financial results yesterday. Its share price was off .06 percent for the day.

But the report included some dicey details for the company’s newspaper operations, suggesting challenges ahead for Gannett and the industry in 2014.

Circulation revenues were up for the year (1.1 percent) but down for the fourth quarter (-1.6 percent) compared to the same period in 2012. CEO Gracia Martore explained in a conference call to analysts that the company has now “cycled through” the lucrative introduction of paywalls together with bundled print + digital subscriptions at its 80 community newspapers.

This raises the concern that capturing revenue from new digital subscribers and pairing “all access” print/digital bundles with a big price increase could be a one-time revenue event.… Read more

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