Articles about "Earnings reports"


Online ad revenue up at The Washington Post, print ad revenue & circulation down

The Washington Post Co. | The Washington Post
The Washington Post's website and Slate saw gains in revenue from display (16 percent) and classified advertising (8 percent) in the first quarter of 2013. The rises are a rare bright spot in the newspaper publishing section of the Washington Post Co.'s earnings report.

Print ad revenue was down 8 percent. Both daily and Sunday circulation were down, by 7.2 percent and 7.7 percent respectively. Overall the company's newspaper division lost $34.5 million in the first quarter of 2013, compared with $20.6 million in the first quarter of 2012. The company chalks that decline up to an increase in early retirement and severance expenses. "[O]n a cash flow basis," Steven Mufson writes, newspaper publishing "lost only $5.4 million."

Revenue from the company's cable-television division was up 5 percent. Television broadcasting revenue was up 5 percent.

The Post has said it will likely install a paywall this year. It plans to sell its downtown D.C. office building as well.

Other roundups of first quarter earnings reports: McClatchy reports 22,000 digital-only subscribers | New York Times company announces 'new strategy for growth' | Circulation revenue gains offset advertising losses at Gannett in first quarter
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McClatchy reports 22,000 digital-only subscribers

The McClatchy Company
Circulation revenues rose 1.6 percent at McClatchy's properties in the first quarter of 2013. Advertising revenue was down 6 percent. Overall, revenues were down 4 percent over the first quarter of 2012.

The company's digital subscription program "continues to exceed our expectations," McClatchy President and CEO Pat Talamantes said in the earnings release. (more...)
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New York Times Co. announces ‘new strategy for growth’

The New York Times Co. | The New York Times Co. | The New York Times
The New York Times Co. unveiled "a series of strategic initiatives" Thursday morning concurrent with its first-quarter earnings report.

Among the planned initiatives are the next phase in The Times’s digital subscription/paid products strategy; an international expansion under the new unified brand; and a renewed emphasis on both video production and brand extensions.
Among the new products, to be introduced at the end of this year and the start of 2014: a "lower-priced paid product designed to allow access to The Times’s most important and interesting stories" and an "enhanced tier that would offer extras at a higher price point to 'all digital access' and print subscribers." (more...)
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Circulation revenue gains offset advertising losses at Gannett in first quarter

Gannett Company, Inc.
Gannett's publishing division reported higher circulation revenue in the first quarter of 2013, but those gains were thwarted by lower advertising revenues. Gannett's broadcast and digital businesses both reported revenue gains.

The circulation revenue rise, however, kept revenue at the publishing division essentially flat -- it declined .3 percent over the first quarter of 2012. Circulation revenues grew 8.6 overall and 14.5 percent at Gannett's local properties, the earnings report says. Advertising revenue was down 4.5 percent at Gannett's publishing businesses.

Digital revenues in publishing rose 75.5 percent, "reflecting the all access content subscription model as well as growth in digital advertising and marketing solutions revenue. Digital revenues at local domestic publishing operations were 98.4 percent higher, while at USA TODAY and its associated businesses they were up 9.1 percent."

All of Gannett's newspapers except USA Today now offer metered access to their online content.
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TV stations strong, newspapers weak in Scripps’ 2012 results

The E.W. Scripps Company
Political advertising revenue at Scripps' television stations in the fourth quarter of 2012 was "higher than the full-year political total reported in any previous year," the company said in an earnings report Tuesday. Local and national advertising revenue was up as well; local advertising brought in nearly as much as political ads did. All that cash led to a dramatic gain in segment profit for Scripps' stations in the fourth quarter: "$65.3 million, compared with $23.2 million in the year-ago period," the release said.

At Scripps' newspapers, which include The Commercial Appeal and the Knoxville News Sentinel, circulation and print-ad revenue were down, and digital revenue scratched a small gain. (more...)
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Print advertising revenue at Washington Post was down 14% in 2012

The Washington Post Co. | The Washington Post
Revenue at the Washington Post Co.'s newspaper operations was down 7 percent over 2011, the company said in a release of its fourth-quarter and year-end earnings Friday. Revenue from print advertising was down 12 percent in the fourth quarter and 14 percent for the year. Online revenue was up, with a 6 percent increase in online display ad revenue over 2011. Daily circulation went down nearly 9 percent over the previous year, and Sunday circulation was down about 6 percent: "average daily circulation at The Washington Post totaled 471,800 and average Sunday circulation totaled 687,200," the release said. The release does not break out circulation revenue.

The Post's newspaper division had an operating loss of "$53.7 million in 2012, compared to an operating loss of $21.2 million in 2011," the release said.

The company's education division, which was hit hard by a federal investigation into for-profit colleges such as the ones in its Kaplan division, had a 6 percent decline in revenue in the fourth quarter and a 10 percent loss over 2011. Revenue at the Post Co.'s cable TV division was up 4 percent over 2011. (more...)
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Circulation and ad revenue down at McClatchy

The McClatchy Co.
McClatchy's circulation revenues were down in the fourth quarter of 2012, the company said in an earnings report released Thursday morning. Circulation revenue fell 1.9 percent, and advertising revenue was down 6 percent.

In McClatchy's third-quarter earnings report, CEO Patrick Talamantes predicted that revenues from the company's paywalls would “begin to make a more significant impact" in the fourth quarter, by which time the company planned to have paywalls in place at all its papers.

Talamantes says in the new report that the paywall program, called "Plus," "contributed $1.2 million in incremental revenues in 2012 which is impressive considering that most of our newspapers launched the program in the fourth quarter. We believe that the new Plus Program could result in more than $20 million in new revenues by the end of the year." (more...)
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NYT company reports 668,000 digital subscribers as of the fourth quarter

The New York Times Co. | The New York Times
Advertising revenue was down and circulation revenue was up at the New York Times company in the fourth quarter of 2012. The company announced its fourth-quarter and full-year earnings Thursday. Its digital businesses are adding customers, with 668,000 paid digital subscribers company-wide.
Paid subscribers to The New York Times and the International Herald Tribune digital subscription packages, e-readers and replica editions totaled approximately 640,000 as of the end of the fourth quarter of 2012, an increase of approximately 13 percent since the end of the third quarter of 2012. Paid digital subscribers to BostonGlobe.com and The Boston Globe’s e-readers and replica editions totaled approximately 28,000 as of the end of the fourth quarter of 2012, up approximately 8 percent since the end of the third quarter of 2012.
Advertising revenue was down 3.1 percent over the same period in the previous year. Circulation revenue was up 16 percent.

The trajectory of both revenue streams means, "The past year marked the first time that circulation revenue surpassed advertising revenue," the Times reported. "Circulation revenue grew by 10.4 percent, to $952.9 million, mainly from the growth in digital subscriptions and the rise in print circulation prices. Advertising for the year declined 5.9 percent, to $898.1 million." (more...)
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Circulation revenue up at Gannett, which credits paywalls

Gannett
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. (more...)
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Digital subscriptions up 11 percent at New York Times company, but revenue slips

The New York Times Company | Financial Times
Digital subscriptions to The New York Times Company rose 11 percent over the second quarter, to 592,000, the company announced in its third-quarter earnings report Thursday. That breaks down to 566,000 subscribers for NYTimes.com and the International Herald Tribune, with 26,000 digital subscribers to The Boston Globe. (more...)
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