DMGT reports 3% rise in revenue for Q3 as Mail Online helps drive online newspaper online ad revenue growth of 69%
Mail Online has driven an increase in newspaper website advertising revenue of nearly 70 per cent, says Daily Mail and General Trust (DMGT) which has reported an increase of 3 per cent in revenue for the third financial quarter, growing to £509 million, despite Northcliffe Media seeing a 10 per cent decline in revenue. The newspaper publisher has cited a return to growth at Associated Newspapers and ‘good underlying growth’ from its B2B business of £42 million for the revenue climb, stating that it has also reduced its debt by £9 million, to £800 million. Associated Newspapers reports £210 million, with a rise in circulation of four per cent, claiming the Daily Mail to now have 21.6 per cent of the market and The Mail on Sunday growing to have 20.1 per cent. Advertising revenue was also up by 2 per cent, however advertising on newspaper websites, mainly the Mail Online, was found to have grown by 69 per cent. Other digital advertising revenues also grew by 15 per cent, primarily through Evenbase. The B2B business growth has been driven by its ‘core modeling performance’ as well as new product areas, with dmg information generating £63 million, and dmg event reporting an increase in revenue to £29 million. Euromoney Institutional Investor also reported revenues of £111 million. However Northcliffe Media saw its revenue decline by around 10 per cent, the company has reported, at £54 million, with advertising revenue down by seven per cent and efficiency costs reduced by 14 per cent due to ‘a difficult market’. During the first three weeks of July, the company has also seen Northcliffe Media’s advertising revenues fall by 7 per cent below last year.