• by Ray Schultz , May 2, 2024

Lee Enterprises saw total operating revenue of $146,550 million in Q1, down from $170,687 million in the same quarter of 2023. But, as with its larger competitor Gannett, it reports strong digital growth. 

“We now have 745,000 digital subscribers, a 25% increase over the prior year,” says Kevin Mowbray, president and chief executive officer of Lee. "We are pleased with our impressive digital subscription revenue growth and expanding digital subscriber base.”

Mowbray adds,"Digital-only subscription revenue grew 48%, and totaled nearly $75 million over the last twelve months, positioning us toward our long-term target of $150 million."

The overall drop in Lee’s revenue was due to the accelerated declines of print revenue streams and elimination of certain print products.

Total digital revenue was $71 million, 11% over the prior year.^. In addition, revenue from digital-only subscribers totaled $20 million, up 48% over the same period in 2023.  

Digital advertising and marketing services made up 71% of Lee’s total ad revenue, totaling $45 million. 

Overall digital revenue now accounts for 48% of the company’s total, and is expected to hit 50% in the next quarter.