Advertising revenue at the regional UK newspaper publisher Newsquest fell 36.9% year on year in the second quarter.
But Newsquest, which publishes 17 UK daily paid-for titles including the Brighton Argus, the Northern Echo and the Scottish national newspaper the Herald, said that June was its strongest month since the ad slump took hold.
The company reported a 45.2% year-on-year fall in classified advertising in the period from April to June.
Within the classified sector, recruitment ad revenue fell 55.6%, property ads fell 52.7% and automotive ads dropped by 43.5%.
Among other advertising categories, retail ads fell 20% and national display ads 10.5%.
Gannett, Newsquest’s US parent company, said that despite the steep decline, the year-on-year comparisons were starting starting to improve.
“In our publishing segment, while advertising comparisons remain difficult, second quarter year-over-year comparisons improved versus the first-quarter comparisons and June was our best comparison month thus far this year,” said executive vice president and chief financial officer Gracia Martore.
Gannett’s operating revenues from publishing activity in the UK and US were $1.1bn (£670m) in the second quarter, down 25% year on year. Advertising revenue was $753m, 32% down. Retail ads plummeted 23.7%, national display ads fell 22.4% and classifieds plummeted by 44.9%.
Total reported operating revenue for the Gannett was $1.4bn in the second quarter, compared with $1.7bn last year.
By Mark Sweney
July 15, 2009
source: guardian.co.uk