By: Newspaper owner Lee Enterprises Inc. said Tuesday that same-property revenue dropped 3.6 percent in January, as traditional classified, retail and national ad revenue declined.
Same-property revenue fell to $87.6 million from $90.9 million in the prior year.
Same-property revenue, a key measure of performance, excludes properties bought or sold in the current and prior year.
The company said one less Sunday in the month compared with the year-ago period also affected its results, since Sunday papers typically generate the most print ad revenue of any day in the week.
"The calendar differences make year-over-year comparisons difficult, especially in one of our smallest revenue months of the year. It's clear, though, that ad sales slipped a bit in January, and we look forward to resuming the stronger pace we've shown over the last few months," Chairman and Chief Executive Mary Junck said in a statement.
Total advertising revenue sagged 3.8 percent to $66.3 million while online ad revenue jumped 44.7 percent to $3.8 million.
Retail advertising slipped 4.5 percent to $33 million, national ad sales slid 11.8 percent to $4.9 million and classified advertising slumped 6.2 percent to $23 million.
At daily newspapers, employment ad revenue declined 10.5 percent to $7.2 million. Automotive ad revenue dipped 9.9 percent to $4.5 million, real estate was down 8.1 percent to $4.6 million and other classifieds fell 6.6 percent to $2.8 million.
Niche publication ad revenue dropped 5.1 percent, and circulation revenue fell 4 percent.
Comments
No comments on this item Please log in to comment by clicking here