Gannett’s Growth Continues: Digital Revenue Up, Partnerships Drive Ad Growth

Gannett, the media company behind the USA Today Network, is experiencing a resurgence in growth. In its Q1 2024 earnings report, Gannett reported its fourth consecutive quarter of growth, with total digital revenue reaching $277 million, a 2.9% increase year over year. This growth was driven by partnerships with non-news publishers like Home Solutions and Gambling.com Group, which contributed to a 10% increase in page views.

Digital ad revenue totaled $84.5 million, up 5.3% year over year, while digital subscriptions saw a 21.3% increase, reaching $43.5 million. Gannett’s digital marketing solutions (DMS) business represented the largest chunk of revenue at $116.1 million.

Gannett’s Chief Content Officer, Kristin Roberts, highlighted the company’s focus on maximizing engagement by expanding lifestyle content and doubling down on successful verticals like sports. The company’s programmatic business also saw growth, fueled by increased platform page views and rebounding CPMs.

Despite the growth in other areas, Gannett is facing challenges in its news business due to difficulties in generating ad revenue. The company has become an antagonist to Google, filing a lawsuit against the tech giant over its dominance in the digital ad market. Gannett is also lobbying Congress for more news publisher protections through legislation like the Journalism Competition and Preservation Act.

Overall, Gannett’s growth in Q1 2024 signals a shift towards diversified digital revenue streams and a focus on engaging content beyond traditional hard news. With a strong digital presence and strategic partnerships, Gannett is positioning itself for continued growth in the future.