Tysons-based Gannett sees declining revenue and growing online subscribers

Tysons, Virginia, Gannett, publisher of USA Today and dozens of local newspapers, reported declining revenue in the fourth quarter, although it cut its quarterly losses and increased the number of subscribers using only paid digital services.

Tysons, Virginia, Gannett, publisher of USA Today and dozens of local newspapers, reported declining revenue in the fourth quarter, although it cut its quarterly losses and increased the number of subscribers using only paid digital services.

For the quarter, Gannett lost $ 22.4 million compared to a net loss of $ 122.2 million in the same quarter a year earlier. Quarterly revenue fell 5.6% to $ 826.5 million. Revenue from advertising decreased by 6.6% compared to last year.



Revenue from online subscribers to his newspapers grew 25.5% year-over-year to $ 27.6 million from total revenue last quarter.

Gannett ended the quarter with more than 1.6 million subscribers paying digitally alone, up 49% from last year.

In 2021, total digital revenue, including advertising and marketing, exceeded $ 1 billion, or 32% of total revenue. Revenues from digital circulation for the year amounted to more than $ 100 million.

For the whole year, Gunnett lost $ 135 million. He expects to reduce his annual losses to a range of $ 50 million to $ 70 million by 2022.

Gannett CEO Michael Reed said the company is investing $ 80 million this year in content, marketing and other areas.

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