By: E&P Staff
Gannett reported today that January total revenue grew 1.7% while newspaper advertising revenue was up slightly 0.3%.
Local advertising revenue was nearly flat, up 0.2% in the month compared to the same period a year ago. All major categories with local lagged expect for health and restaurants. Gannett said that local ad results reflect the lack of a final week in December, which was included in the previous year.
Classified revenues rose 2.5% on strong gains at the company’s United Kingdom properties. Within the category, real estate increased 10.3% and employment advanced 6%. Automotive plummeted 13.5%. At the company’s U.S. community newspapers, classified advertising revenue dropped 6.3% reflecting a 2.1% decline in real estate, a 3.3% drop in employment, and an 18.6% decrease in automotive.
National advertising fell 4.8% on a 13.2% decline in volume at its domestic newspapers.
At USA Today, advertising revenue dropped 6% on a decline in paid ad pages to 310 from 326.
Net paid circulation continued to slip, with daily papers posting a 0.7% decline and Sunday papers sinking 2%.
Broadcasting revenue, including Captivate, grew 1.9 %.
Shares of Gannett lost 7 cents to $62.59 in morning trading on the New York Stock Exchange.