Circulation revenues rose 1.6 percent at McClatchy’s properties in the first quarter of 2013. Advertising revenue was down 6 percent. Overall, revenues were down 4 percent over the first quarter of 2012.
The company’s digital subscription program “continues to exceed our expectations,” McClatchy President and CEO Pat Talamantes said in the earnings release.
We finished the quarter with over 22,000 digital-only subscribers. In total, the Plus Program provided $5.8 million in incremental revenues contributing to the 1.6% growth in total circulation revenues for the quarter compared to the same quarter last year. We now expect the Plus Program to generate approximately $25 million in new revenues in 2013.
Elsewhere in the statement, CFO Elaine Lintecum says “The relocation of The Miami Herald headquarters from downtown Miami to Doral, Fla., is going well.”
Other earning reports: New York Times announces ‘new strategy for growth’ | Circulation revenue gains offset advertising losses at Gannett in first quarter
