Following the fortunes of the news industry can give useful insight into the economic health of any troubled capitalist country.
At the end of last week, Johnston Press reported half-year revenues of £218.6 million; down 25.4 per cent year-on-year. Johnston is based in Scotland and owns national titles there (e.g., The Scostman) as well as numerous regional and local titles throughout the UK
However, it’s in the fine detail that specific areas of economic activity can be assessed. Johnston’s print advertising revenue fell 33.5 per cent and digital advertising revenues declined by 18.8 per cent.
The publisher’s revenue drop further breaks down as follows:
- employment advertising was down by 53.8%
- property ads by 54.2%
- motors by 29.3%
- other classifieds by 11.5%
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