Guardian Media Group Breaks Even, Credits Digital Growth, Reader Contributions

Guardian Media Group says it broke even in the 2018-2019 financial year, thanks to digital revenue growth and contributions from readers.

Revenue from advertising and reader contributions at the online-only Guardian US and Guardian Australia operations grew to £30.8 million (about $37.4 million) in the last financial year, making up 14% of Guardian Media Group’s global revenues.

“Achieving a third successive year of revenue growth and meeting our break-even target for GNM is a tribute to everyone within our organisation,” stated Guardian Media Group CEO David Pemsel. 

He added Guardian Media Group’s subsidiary, Guardian News & Media, has transformed in the last three years “into a more reader-funded, more digital and more international business.”

Total monthly page views increased over the last three years from 790 million in January 2016 to 1.35 billion in March 2019.



Guardian News & Media recorded an operational profit of £800,000 (about $971,000) for the first time in recent history. Revenue across the company grew to £224.5 million (about $272.5 million) in the last financial year, up from £217 million. 

Digital now makes up 56% of Guardian Media Group revenue, up from 50% last year.

The Guardian now has 655,000 regular paying supporters, and an additional 300,000 one-time contributors from the past 12 months.

The milestone was first reported in May, but Guardian Media Group has now confirmed the numbers.

Last year, Guardian Media Group closed its own printing sites and switched to a tabloid format. It now outsources production of the print paper.

Total headcount fell from 1,475 to 1,437 across editorial, sales and support divisions in the last year, a cost-cutting move.

Next story loading loading..