The publishers of The Herald group of newspapers – The Herald, Sunday Herald and Evening Times – is reported to have suffered another slump in its advertising revenue.
But parent company, USA-based Gannett is also reported to be saying June has been the strongest month for ad revenue this year, meaning some grounds for optimism.
Says holdthefrontpage website: “The three main advertising sections all recorded heavy falls – automotive dropped 43.5 per cent, recruitment fell 55.6 per cent and property decreased by 52.7 per cent. Retail advertising was down 20.1 per cent and national displays adverts dropped 10.5 per cent.”
Press Gazette quotes Gannett chief financial officer, Gracia Martore, saying: “We continue to position the company for the eventual rebound in the economy and the evolving media landscape as we navigate through this unprecedented economic storm. In our publishing segment, second quarter year-over-year comparisons improved versus first quarter comparisons and June was our best comparison month thus far this year.”
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