<\/p>\n
Print revenue continues to fall<\/p>\n
Media group Reach, whose titles include the Daily Record and Daily Express, continues to see a decline in revenue in its core operations.<\/p>\n
Third quarter digital trading has seen the ongoing impact of industry-wide disruption in referrals, primarily from Google.<\/p>\n
Indirect revenues \u2013 advertising or commercial income from social media (off-platform) or programmatically via its websites (on-platform) \u2013 were impacted by the lower on-platform audience.<\/p>\n
This was partially mitigated by improved revenue growth from sources such as AI licensing, supported by a recently secured agreement with a major tech platform.<\/p>\n
\u201cLooking ahead, we are executing our strategic priorities to counter these headwinds and build a more sustainable business,\u201d said the company as it revealed group revenue for the period down 14.1% year on year.<\/p>\n
It is monetising video content and diversifying revenue streams away from traditional on-platform advertising. <\/p>\n
Print revenue decreased with circulation volumes in line with levels reported in Q2, though print advertising performed strongly, boosted by the FIFA World Cup.<\/p>\n
During the three months to 30 September it launched a restructuring of the group and expects full-year operational cost savings to exceed the 10%, delivered across the first half of the year. <\/p>\n
Total cash restructuring costs for the full year, including those relating to the print site closures, are estimated to be between \u00a335-40m.<\/p>\n
The group maintains its cautious outlook for digital revenues and said it remains on track to deliver in line with market expectations for the full year.<\/p>\n
Piers North, chief executive, said: \u201cWe are making strategic progress in an evolving digital landscape with a focus on original content, distinctive brands, and revenue diversification. <\/p>\n
\u201cWe will continue to maintain strict financial discipline until pension deficit payments end in 2028.\u201d<\/p>\n
aily Business Bulletin:\u00a0Subscribe here for our free morning bulletin of breaking news<\/p>\n
\t #Reach #seeks #income #sources #revenue #falls #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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