By: E&P Staff
Gannett Co. Inc. reported a chilly February, with same-property operating revenues down 7.2% compared to last year on advertising revenue that dropped 8.3 percent compared with a year ago.
Reflecting an industry pattern, Gannett’s newspaper reported a big drop in revenues across all classified advertising categories. Overall pro forma classified fell 13.6% in the period ended March 2.
The biggest classified loser was real estate, which plummeted 26.6%. Help-wanted tumbled 23.3%, and automotive was down 10.9%.
Gannett’s flagship national newspaper, USA Today, was a bright spot in the chain, with advertising jumping 14.5% in the month compared to last year.
Strong growth in the travel, technology, financial, packaged goods, retail, advocacy and pharmaceutical categories offset lagging the telecommunications and automotive advertising at the paper, Gannett said.
Gannett said it pro forma broadcasting revenues, including Captivate, were 7.1% lower in the period.