Trinity Mirror lost £4.5m revenue by closing seven regional newspapers in 2014 - Press Gazette

Trinity Mirror lost £4.5m revenue by closing seven regional newspapers in 2014

The seven regional newspapers closed down by Trinity Mirror at the end of last year had a combined revenue of £4.5m in 2014.

A trading update issued by the regional and national newspaper publisher today for the first quarter of 2015 revealed overall reported revenue was down 10 per cent year on year while underlying revenue fell by 8 per cent.

In addition to the loss of revenue from the closed titles in the south of England, the statement revealed that Trinity Mirror made £11.1m from newsprint supply to The Independent and i newspapers, an arrangement that ended in late 2014.

On an underlying basis, revenue for the publishing division fell by 8 per cent, with print declining by 10 per cent and digital growing by 29 per cent.

Trinity Mirror said that publishing print revenue has been "adversely impacted by the absence of a cover price increase for the Daily Mirror" between Monday and Friday. It said that circulation revenue has fallen by 6 per cent. Meanwhile, print advertising revenue has falled by 14 per cent.

In December, Trinity Mirror closed all three of its Berkshire titles – the Reading Post, Get Reading and the Wokingham and Bracknell Times – along with the Surrey Herald, Surrey Times, Woking Informer and Harrow Observer.

So far this year it has announced the closures of 11 weekly newspapers across the country – the Coventry Times, Crosby Herald, Formby Times, the Stockport Times East, Stockport Times West, Tameside Advertiser, Glossop Advertiser, Oldham Advertiser, Salford Advertiser, Advertiser Series and the Wilmslow Express. It has replaced the last eight of these titles, free weeklies from the Greater Manchester area, with one, the Manchester Weekly News.

Read the trading update in full here.



Press Gazette's must-read weekly newsletter featuring interviews, data, insight and investigations.

No comments to display

Leave a Reply

Your email address will not be published. Required fields are marked *