Mail on Sunday price discount hits DMGT revenue
The Mail on Sunday saw revenue fall by 4% as a result of price discounting to pick up readers from the closure of the News of the World.
The Daily Mail General Trust published Sunday title lowered its cover price to £1 to attract News of the World readers after the newspaper closed its doors as a result of the phone hacking scandal.
This short term price decrease from £1.50 was partly offset by an increase in the Daily Mail’s cover price.
As a result of this, and the rise of cost in newsprint, and 1% decline in advertising revenue, the publisher saw its annual profit expectations lowered.
Circulation of the Daily Mail also declined by 3% during the last three months.
Meanwhile, regional newspaper division Northcliffe Media’s revenue for the same period fell by 10%, with advertising revenue down by 10%, with recruitment advertising was down by 30% and circulation down by 7% on last year.