The Future of Print

Newspapers Slammed In 3Q

Posted in Doom by futureofprint on November 15, 2010

Big newspaper publishers continued to struggle, with single-digit declines across the board — also noteworthy, since they are compounding several years of losses. Luckily, many own substantial broadcast TV businesses, which are buoying their bottom line.

At the New York Times Co., total revenues slipped 2.7% to $554.3 million due to a 1% drop in ad revenues and a 4.8% drop in circulation. McClatchy saw total revenues decline 5.7% to $327.7 million in the third quarter, reflecting a 6.4% drop in ad revenues and a 3.8% drop in circulation.

At Gannett, publishing revenues slipped 4.8% to $969.4 million, mostly due to a 5.1% drop in advertising revenue at the division, but total revenues were flat at $1.31 billion thanks to its TV business. Almost alone among major publishers, The Washington Post enjoyed a 5% increase in newspaper revenues, to $163.4 million, due mostly to increases in general advertising and digital revenues.

The news was not much better at smaller publishers.A.H. Belo saw total revenues slip 6.1% in the third quarter, to $119.1 million; Media General saw its publishing division revenues shrink 7.6%, offset by an 18% increase in TV revenues. E.W. Scripps’ newspaper revenues fell 3.8% to $100 million, offset by a 31% increase in TV revenues, to $78.5 million.Adding up all their growth rates, these companies saw newspaper revenues decline an average of 3.7% in the third quarter.

via MediaPost Publications Radio Stabilized, Newspapers Slammed In 3Q 11/15/2010.

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