Just In

Lee Enterprises revenue down, but company sees growth in digital revenue and subscriptions

Lee Enterprises revenue down, but company sees growth in digital revenue and subscriptions

  • 0
{{featured_button_text}}
Kevin Mowbray

Kevin Mowbray

DAVENPORT — Davenport-based Lee Enterprises Inc., a provider of local news and information and a major platform for advertising in 50 markets, including The Courier, Thursday reported fourth quarter and year-to-date financial results for the period ended Sept. 29.

Fourth quarter highlights include:

  • Total digital revenue was $36.2 million and represented 29.3% of operating revenue.

Digital advertising revenue on a same property basis increased 2.5% in the quarter and represented 41% of total advertising revenue

  • .
  • Revenue at TownNews increased 10.7% in the fourth quarter, excluding the 53rd week of operations in 2018, and revenue over the last twelve months totaled $22.6 million.
  • Subscription revenue on a same property basis decreased 4.6% in the quarter. Digital only subscribers increased 79.1% and now total 91,000.
  • Total revenues were $123.7 million in the fourth quarter, compared with $139.7 million in the prior year quarter. Excluding the impact of acquisitions and the 53rd
  • week of operations last year, total revenue on a same property basis decreased 8.2%.
  • Net income totaled $1.3 million and adjusted EBITDA totaled $31.1 million.

“We made great progress on our digital transformation in 2019, as we saw positive results in digital advertising, continued double-digit growth at TownNews and solid digital-only subscriber growth,” said Kevin Mowbray, president and chief executive officer.

0
0
0
0
0

The business news you need

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News