Canadian Publishing Industry News
15 January 2021,     TORONTO
Postmedia revenue slides 25% in first quarter
 
 
Postmedia reports that its first-quarter revenue was down 25.4% from the same quarter last year due to a significant impact from the pandemic. Revenue in the quarter ended November 30, 2020, dropped to $116.9 million from $156.7 million, a decrease of $39.7 million. The company booked $6.6 million related to Canada Emergency Wage Subsidy.

 The revenue decline was primarily due to decreases in print advertising revenue of $20.6 million or 32.1% and a digital revenue drop of $10.7 million or 31.1%, with digital advertising revenue down 36.0%. Print circulation revenue declined $6.2 million or 12.4% versus the same period last year.

 

Net earnings rose to $52.8 million compared to a loss of $3.0 million last year due to non-cash settlement gain related to employee benefits, foreign exchange gains, and decreases in depreciation, amortization and restructuring expenses.

Story Tools
Most Recent News Comment
Brian Kastaic says:
Their track record with magazines and websites is not good at all. Their newspapers lose money hand ...
Most Recent Blog Comment
Marty Seto says:
Make Sure you Enter the COPAs this year. We have a FREE Covid-19 News category that is free to enter...
Blogs
Martin Seto Gadget Blog
Martin Seto
Most recent posts:
Scott Bullock Covers Sell
Scott Bullock
Most recent posts:
Industry Guest Blogger Words of Inspiration
Industry Guest Blogger
Most recent posts:
Dennis Kelly 57 Media Spikes
Dennis Kelly
Most recent posts:
Norm Lourenco RGD Magazine Media Brandaid
Norm Lourenco RGD
Most recent posts:
Richard Johnson Off the Page
Richard Johnson
Most recent posts:
Connections
Connections
Connections
Special Reports
Masthead Web Edition Archives
More Archives