As People Enroll For Its Subscription Program, Gannett Posts Profit Again

As People Enroll For Its Subscription Program, Gannett Posts Profit Again

Mass Media holding company, Gannett, which owns 200+ other daily publications, and a plethora of weeklies and also is the holder of USA Today, owing to record numbers for its digital subscription enrollment saw a spike in its profit, for a second straight quarter.

The company reported a net income of $15 million until Sept 30. This is significant as it has been profitable for the first time since its merger with New Media Investment Group, in 2019, and formerly know Gannett.

The Chairman and CEO of Gannett, Michael Reed had stated in January that the company realising ng the growth potential in the digital subscription space, as the new behavioral change aimed to amass 10 Million digital Subscriptions in the coming 5 years. Through the subscription, the users shall get access to their premium content, as launched in early 2021.

“Nine months ago, we outlined a long-term vision for growth at Gannett. While we are still in early stages, the strong growth in digital-only circulation and digital marketing solutions confirms we are on the right path,” Reed had stated.

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The change can be observed as revenue from advertising and marketing services increased by 5%, while revenue from circulation shrunk by 8.2%. However the biggest boost was in digital sales, a whooping 17.8% amounting to $265 Million.

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About Govind Dhiman 2041 Articles
Govind Dhiman is a young and passionate entrepreneur who hails from Haryana, India. He founded Journalistpr.com to help journalists in the world of journalism grow their presence and amplify their voice on social media. Govind believes that content marketing is one of the most effective ways for businesses to establish themselves as authorities in their niche market space by publishing quality content on a consistent basis with an eye towards key metrics like engagement and shares.

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