Support Local Journalism. Join Riverfront Times Press Club.

Tuesday, July 17, 2012

Lee Enterprises Lost More Money in 3rd Quarter. Oh, and Paywalls Are Coming to "Nearly All Markets"

Posted By on Tue, Jul 17, 2012 at 11:49 AM

Mary Junck, CEO of Lee Enterprises.
  • Mary Junck, CEO of Lee Enterprises.
Lee Enterprises announced a third-quarter loss of only $1.5 million, which is down quite a bit from the losses of $155 million in the same quarter of the previous year. Successfully pushing that decimal point two places to the left means that shares only lost three cents of their value in the third quarter this year, as opposed to the loss of $3.46 per share in the same time frame last year. Of course, you can only lose so much value before you hit zero, right?

In other financial news for the Post-Dispatch's parent company, Lee's operating venue dropped 4.3 percent, a sign of the industry-wide drop in print advertising revenue. But don't worry, Lee CEO Mary Junck has a plan.

Can you say "digital subscriptions?"

In an official statement, Junck touted the success of Lee's slow roll-out of digital subscriptions, a.k.a. online paywalls,  in the 52 markets in which it has newspapers:
"We introduced digital subscriptions in 11 more markets during the quarter, for a total of 17 so far, and expect nearly all of Lee's 52 markets to follow by the end of the calendar year."
Digital advertising continues to grow for Lee, so from a business standpoint, trying to monetize their online content makes sense. For the year to date, Lee's digital advertising revenue has increased 10.1 percent. Print revenue on its own decreased 7.7 percent in the same time frame. In an interesting coincidence, Lee's average number of full-time or equivalent employees is down by a similar figure of 7.4 percent for the year-to-date.

Tags: ,

Support Local Journalism.
Join the Riverfront Times Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state. Our readers helped us continue this coverage in 2020, and we are so grateful for the support.

Help us keep this coverage going in 2021. Whether it's a one-time acknowledgement of this article or an ongoing membership pledge, your support goes to local-based reporting from our small but mighty team.

Join the Riverfront Times Club for as little as $5 a month.

Read the Digital Print Issue

December 1, 2021

View more issues

Newsletters

Never miss a beat

Sign Up Now

Subscribe now to get the latest news delivered right to your inbox.

Best Things to Do In St. Louis

© 2021 Riverfront Times

Website powered by Foundation