By: E&P Staff Lee Enterprises announced yesterday that advertising revenue for a combined October/November was up 5.2% when compared to the same period last year.
Lee reported October and November statistics in order to provide "the most meaningful year-over-year comparisons." When both months are combined, each year has the same number of Sundays.
"Our many successful sales programs have given us strong momentum early in our fiscal year, and we continue to compare well with the industry," said Mary Junck, chairman and CEO of Lee, in a statement. "As the Newspaper Association of America reported recently, the average ad revenue growth for the September quarter was 3.8%, while Lee's same property ad growth was 6.1%. In addition to revenue, we remain focused, as well, on increasing readership and circulation, emphasizing strong local news, driving our online strength and exercising careful cost controls."
For the year-over-year period, retail advertising revenue increased 3.1%. Classified revenue was up 6%, with gains in help wanted, up 17.1%, and real estate, up 7.5%. Auto revenue was down 1.8%. National advertising increased 14.4%. Circulation revenue dropped 2.6%.
The drop in circulation revenue took some analysts by surprise. In a report released today from Merrill Lynch, the investment firm said the decrease was more than expected and "that it reflects an increase in promotional activities (i.e. discounting) in several markets."
One market in particular, which is covered by the North County (Calif.) Times, is facing competition from a newly launched free daily from The Copley Press.
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