Yesterday’s Daily Telegraph, in an article headlined “Daily Mail owner says online helps offset fall in print advertising”, reports that
Total advertising revenues at Associated were down 3pc, but that figure included growth in online advertising. When online is stripped out, advertising revenues at Associated’s newspaper operations fell by 5pc.
The news follows a rapid fall in share price for the Daily Mail Group plus two other UK newspaper groups earlier this month, reported in this blog as “UK newspapers hit by double whammy”.
All three were facing both cyclical and structural changes – a downturn in the economy at the same time as the rise of digital. Digital was seen as a way to make up some of the loss of revenue but the sentiment was that it was too little, too late.