By: E&P Staff Gannett did not escape the fate of
its peers this January. The McLean, Va., company reported that newspaper advertising revenue dropped 9.2% to $371 million compared to January 2007.
Retail advertising revenue fell 7.2% to $159 million on weakness in the furniture, consumer electronics, financial, telecommunications, and home improvement categories. The company noted that department store and restaurant categories were relatively flat.
Classified advertising skid 16.1% to $148 million on real estate, which was down 25.3%. Help wanted and auto plunged 19.1% and 14.9% respectively. At the company's U.S. properties, classified revenue results declined further with an overall drop of 19.4%. Real estate tumbled almost 30%, employment declined almost 25%, and auto dropped roughly 13%.
Gannett reported an uptick in national advertising revenue, which grew 5.9% to $62 million.
At USA Today advertising revenue increased 7.3% on paid ad pages of 294 compared to 310 in January 2007. The national paper reported gains in the entertainment, financial, travel, packaged goods, and pharmaceutical categories.
Circulation revenue was down 1.8% to $112 million.
At Gannett's broadcasting division, revenue fell 5.9%.
Operating revenue at the company dropped 7.5%.
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