By: Gideon Spanier | Independent.co.uk
In a potentially landmark moment for the news industry that gives hope to other publishers, revenues at The Guardian and The Observer leapt 7 per cent last year as strong digital growth offset print decline.
Guardian News & Media (GNM), the owner of the left-leaning newspapers, still made a loss of £30.6m in the year to March – barely down on the £33.8m loss a year earlier.
But for industry observers and Guardian staff alike, the revenue growth looks more significant after many years when digital failed to offset print’s slide. The tipping point for GNM came a year ago; now revenues are accelerating. Digital turnover swelled by almost a quarter to £69.5m, while print revenues stayed “broadly flat”.