Wednesday, February 28

Digital-only paid subscribers rise in first quarter

The headquarters of Gannett and the USA TODAY Network in McLean, VA.

Gannett, the owner of USA TODAY, reported on Thursday a first-quarter performance that was “slightly ahead of expectations” with a nearly 44% year-over-year increase in digital-only paid subscribers.

The company, which owns local media organizations in 45 states, reported a net loss of $2.97 million in the quarter compared with a net loss of $142.3 million the prior-year quarter.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $64.2 million in the quarter, down 36.1% from the same period a year earlier.

Total revenue fell 3.7% to $748.1 million. Digital revenue rose 9.7% to $251.1 million, which comprised 34% of total revenue.

Circulation revenue declined 10.9% to $288.4 million. Advertising and marketing services revenue fell 1.2% to $374.9 million.

Digital-only circulation revenue of $30.1 million rose 30% from the prior-year quarter.

Gannett’s stock fell 4% to $4.05 as of 10:41 am ET.

GANNETT FOURTH QUARTER:Gannett reports subscription growth and narrower loss in fourth quarter

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