Gannett print advertising down 8% in 2nd quarter

Gannett
Gannett’s second-quarter earnings report shows that print advertising revenue was down 8 percent compared to the second quarter of 2011, while digital revenue grew 13 percent, according to Gracia Martore, president and CEO. In the company’s newspaper division, digital revenue rose 29.3 percent compared to the second quarter of last year due to better sales of digital advertising and the company’s new paywalls, which it reports have been implemented on half of its websites. In a press release, Martore said the paywalls and associated expenses cost about $30 million. Gannett previously said it expects the paywalls to be worth $100 million in revenue by the end of 2013. || Related: Gannett broadcast revenue rose 11 percent (TVNewsCheck) | Why new editor David Callaway and USA Today are gambling on each other (Howard Kurtz/The Daily Beast)