Mail Online ad revenues have officially overtaken equivalent print income derived from The Daily Mail and Mail on Sunday for the first time on record, according to the publisher’s full year accounts.
The long-heralded leapfrog moment saw online revenues pip print revenues by £122m to £117m for the year ended 30 September, solidifying the company’s financial position which had already been bolstered by the sale of a stake in ZPG, which netted the firm £642m as part of efforts to bring more focus to the business.
Daily Mail & General Trust chief executive Paul Zwillenberg said: “MailOnline continues to perform well and has reached an important milestone with digital advertising revenue now exceeding the Mail's print advertising revenues.
“As we move into FY 2019, our vision for DMGT's future remains unchanged; we seek to deliver profitable growth across a diversified portfolio, driven by our long-term approach to investment and increased focus on innovative technologies. The board remains confident that the Group's strategy, supported by our strong balance sheet, will over the medium term, deliver consistent earnings growth to underpin DMGT's long-standing commitment to sustainable annual real dividend growth."
DMGT reported revenue of £1,426m resulting in an adjusted operating profit of £145m.
In recent years The Mail has proven successful at mitigating print declines while maximising the commercial opportunities presented by surging online traffic.