Daily Mirror owner Trinity Mirror's results show rising fortunes in digital are still being offset by a decline in print. Although unique viewers to its national and regional newspapers soared by 60% to 41m per month and digital display has risen by 30%, the company's overall turnover was still down 6%, with a pre-tax (pre adjustments) loss of £160m.
The company is living proof of how difficult it is for traditional household names in print publishing to monetize growing digital audiences enough to make up for declines in national and local newspaper circulations and advertising revenues.
Chief Executive Simon Fox claimed the business was doing well in offsetting the decline in print against digital. However, with print accounting for 80% of the company's revenue, there is still quite a way to go.
The business has invested in digital assets, including stakes in online regional news service, Local World and social news site, UsVsTh3m.