Gannett experienced growth in digital advertising and digital subscriptions in the first quarter of 2018, but suffered declines in print advertising and circulation.
The McLean, Virginia-based company reported a net loss of $377,000, or breakeven, on a per-share basis.
Gannett’s total revenue dipped 7.2% to $723 million in the first quarter of 2018, compared to the same quarter last year. The company says the decline was an improvement, compared to the 8.8% year-over-year decline reported in the fourth quarter of 2017.
“The improvement was due to stronger digital advertising revenue and our strategic subscriber pricing initiatives,” the company stated.
Digital-only subscriptions grew 51% to 382,000 at USA Today and the publisher's other 109 regional properties.
Total digital advertising revenues increased 9% to $255.5 million, representing about 35% of total revenue in the quarter.
Print advertising was down 17.2% in the first quarter of this year, compared to the same quarter in 2017.
Circulation revenues were down 5%, partly due to price increases, according to a Poynter report.
CEO Bob Dickey said in a conference call "the primary focus" for the company now is to survey potential acquisitions and find digital companies that will enhance the offerings of ReachLocal, Gannett’s local digital marketing platform, according to Poynter.
Revenue from ReachLocal increased 24% year-over-year to $96.5 million.