AAP April 2023 StatShot Report: Overall Publishing Industry Up 0.9% Year-To-Date, and Down 7.6% for Month of April

The Company reported fourth quarter 2023 reported revenue of $3.152 billion, an increase of 7% compared to the fourth quarter of 2022. Fourth quarter GAAP net income increased 34% to $579 million and GAAP diluted earnings per share increased 38% to $1.83 driven primarily by strong Ratings growth and lower merger-related costs. Excluding the impact of Engineering Solutions (ES), revenue growth would have been 11% year over year. Adjusted net income for the fourth quarter increased 19% to $988 million and adjusted diluted earnings per share increased 23% to $3.13. For the full year 2023, reported revenue increased 12% year over year to $12.497 billion. 2023 GAAP net income decreased 19% to $2.626 billion and GAAP diluted earnings per share decreased 19% to $8.23, driven primarily by a gain on sale of assets in 2022 and restructuring costs in 2023.

Gannett Co., Inc. announced a strategic organizational restructuring with the creation of two new U.S. operating business units, Gannett Media and Digital Marketing Solutions (DMS), which will be led by Maribel Perez Wadsworth and Kris Barton as Presidents of each business respectively. The evolved corporate structure is designed to align Gannett’s subject matter expertise and resources with favorable growth opportunities. As President of Gannett Media, Wadsworth will oversee an expansive organization that prioritizes content, news, business-to-business (B2B) and commitment to subscribers while continuing to accelerate Gannett’s digital subscriber growth. As President of Digital Marketing Solutions, Barton brings a unique mix of business, design and technical acumen to the position. He is dedicated to growing DMS offerings as a differentiated marketing platform. He and his team will further the transformation of the DMS business to ensure loyalty from existing customers who value the platform while attracting new customers to engage with the available digital solutions.

A successful digital-first brand from Hearst that has seen immeasurable growth with not only its website, but its printed bookazines and cookbooks, Delish.com is launching a quarterly print magazine. Delish in print will be sold at the newsstands, but will also be an integral part of the subscription model the brand has in place for its online footprint. An all-access subscription of $20 annually will not only get you everything online, but also the 96 page (plus covers) printed magazine as part of the memebership. Dan Fuchs, formerly of HGTV magazine and O, The Oprah Magazine, is the VP/Chief Revenue Officer of the new quarterly print publication. I spoke with Dan recently and we talked about this exciting new venture into the world of print for a digital-only entity. Dan said it’s an exhilarating time for a brand that has been successful online and in the world of print, with its special bookazines and cookbooks, to have a quarterly magazine coming out in print. Opportunities and more growth will surely follow. And with Editorial Director, Joanna Saltz, as his partner, Dan is looking forward to the future of Delish in all its exciting extensions.