As trading conditions have been tough over the past few years, Trinity Mirror has made cuts of £20m. To do this they are 'boosting digital revenues' which relates to again, the dominance of e-media, and cost savings. This is due to both publishing and advertising revenue for their print revenue both dropping, and in fact overall print revenue dropping as as a whole. All of this follows a move announced by the Daily Mail and General Trust last Thursday, claiming they'd be making 400 jobs cuts within this year, as well as print revenue dropping in September of this year.
- The company has hit £20m in structural cost savings for the year
- Print advertising revenues fell by 21%
- Newspaper sales revenues dropped by 6%
- Total revenues fell by 9% in the third quarter
- Publishing revenue is down 10%
- Digital display advertising and transactional revenues grew by 24%
- DMGT said that print advertising fell by 19% in September
This article is representative of this slow but ongoing death that print media has been having over recent years. While things like advertising and publishing revenue are falling, things to do with print, the online counterparts are doing better. It's appearing that no company is immune to this and we'll only see it continue. However while this is the case, we also see the plight of publishers/journalists continue since they are continuing to be made redundant as this is happening.
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