The change in media consumption is something that is effecting newspapers and magazines across the country, as Norfolk’s Archant shows a dip in profit
The first six months of 2011 have seen a fall in profit of 60%. Archant prints four daily regional newspapers as well as nearly 150 titles including weekly titles and magazines. Total revenues for the period fell 4% to £67m, as print advertising revenues fell 13.2%.
Yet the digital side of the business has seen an upturn showing the promising future of digital promotion and advertising. Total digital revenues grew 3.3% to £3.1m, with digital display revenues increasing 11%. The company said the number of unique monthly visitors to its portfolio of 200 websites grew by more than a third to 3.6m.
Archant chairman Richard Jewson told the Guardian,
“We are transforming our traditional businesses for the changing world and developing new businesses, taking full advantage of changes in technology,” said Jewson.
“We are not waiting for the economy to improve to take action, and provided there is no further deterioration in our markets, we expect better profits in the second half to achieve our forecast for this year and to achieve growth in profits in 2012.”