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