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US newspaper group enjoys strong online ad growth
US newspaper publisher Lee Enterprises has enjoyed a quarterly profit rise of 17 per cent, largely because of strong online advertising gains.The company, which is the fourth largest newspaper group in the US, reported earnings of $26.7 million – up from $22.8 million a year ago.
Internet advertising revenue grew by a massive 53 per cent to $10.9 million, helping to significantly boost takings.
"This rapid online growth, coupled with a solid performance in print, helped us deliver another good quarter and exceed earnings expectations," said the firm's chief executive, Mary Junck.
Advertising revenues across the board at Lee amounted to $234.2 million.
Newspaper groups in the US are increasingly looking to online ads to make up for generally disappointing growth in print advertisements.
Earlier this month Gannett Co, McClatchy Co and Tribune Co announced a plan to team up and offer a one-stop shop for advertisers looking to place display ads online.
News and Public Relations news posted on 25 January 2007
