Tribune Publishing now has 370,000 digital-only subscribers, up from 283,000 at the end of the first quarter in 2019. Digital subscription revenue was up 42%, compared to the first quarter of 2019.

However, ad revenue fell 20%, or $20 million in the first quarter this year, compared to the same period for 2019, due to decreases in all revenue categories, according to the company. 

Total revenues were $216.5 million, down from $244.5 million in the first quarter of 2019.

Media companies nationwide are grappling with the effects of the COVID-19 pandemic on the economy, which are drying up ad revenue.

Terry Jimenez, Tribune Publishing CEO-president, said the company began the year with a “sharp focus” on growing digital-only subscription and “managing costs to offset secular revenue declines.” 

“The onset of the COVID-19 pandemic in the first quarter required us to accelerate these efforts in order to manage the impact of the economic slowdown on our advertising partners and thereby our business,” he added.

In April, Tribune Publishing enacted pay cuts across its nonunion employees and furloughed employees. Staffers are taking three-week furloughs in one-week increments between May and July of this year to “ensure financial stability.”

Adjusted EBITDA in Q1 2020 was $13.3 million, a decrease of $8 million compared to the first quarter of 2019, according to the earnings report. Circulation revenues decreased 3.1%, or $2.9 million.

“We have taken extensive and aggressive steps to mitigate the economic impact of COVID-19,” Jimenez stated.

That includes the modification of manufacturing and distribution processes, reducing and freezing spending, eliminating incentive and discretionary bonuses and delaying non-essential repairs and maintenance.

“We recognize that coming out of the pandemic, the Company must accelerate its digital footprint and position itself as a smaller, more nimble operation in order to sustain itself for the long term,” Jimenez added.

In addition to the Chicago Tribune, Tribune Publishing owns The Baltimore Sun, Hartford Courant, Orlando Sentinel, South Florida Sun Sentinel, New York Daily News, the Capital Gazette in Annapolis, Maryland, The Morning Call in Allentown, Pennsylvania, the Daily Press in Newport News, Virginia and The Virginian-Pilot in Norfolk, Virginia.