Print decline continues for Trinity Mirror as it buckles down on digital after New Day failure
Trinity Mirror suffered a ten per cent decline in print revenue in the first half of 2016, markedly aided by the short-lived nature of its newspaper gambit, the New Day, which shuttered after just 10 weeks in operation, falling drastically short of the 200,000 issue a day circulation target.
The New Day
On Thursday, the company launched a new round of job cuts affecting staff across the Daily Mirror, Sunday Mirror and Sunday People, with an estimated 15 positions at risk.
Total group revenue was down by eight per cent although its digital income grew by 14 per cent hinting that its new online strategy is coming to fruition.
A statement from the board read: “For the remainder of the year we will remain focused on the delivery of our strategy.
“We will continue to invest in digital growth and take the necessary mitigating actions to support profits given the increased uncertainty arising from the outcome of the UK’s referendum on EU membership.”