Since the Newspaper Association of America stopped reporting quarterly revenue results last year, I have looked at Gannett’s numbers as a reasonable proxy for the industry. Here are three takeaways from yesterday’s second quarter earnings report and conference call with analysts.
- National advertising was terrible in the second quarter (down 16.3 percent compared to the same period in 2013) for Gannett’s publishing division. Despite a small gain in digital advertising and marketing services, overall advertising was down 6 percent.CEO Gracia Martore told analysts she had heard of similar weak national results from friends in the industry, as have I. One explanation, on top of the stop-and-go economic recovery — the World Cup was an attractive advertising opportunity for big companies, and they pulled from print budgets to go heavy in social media.