Leading the bad news was McClatchy, where July revenues declined 8.6%, compared to the same month last year. That was due mostly to a 9.4% drop in ad revenue, to $169.4 million. Contributing to the drop in ad revenue were weaknesses in classifieds, which dropped 15.3%, and national revenue, which tumbled 19%. Real-estate classifieds suffered the biggest percentage drop, plunging 26%.
Gannett Company also attributed its weak July to declines in classified and national revenue, citing real-estate and automotive classifieds as loss leaders. Overall, newspaper revenue slid 6.1% to $408.2 million, due mostly to the 8.3% decline in classifieds and the 9.1% drop in national ad revenue. In terms of its individual properties, the most alarming results came from USA Today, where total ad revenue slid 15.9%.
Also reporting July results were Journal Communications, Inc. and Lee Enterprises. Journal Communications, which publishes 45 community newspapers and shoppers in Wisconsin and Florida, saw total revenues slip 6.7%, due mostly to a 10.6% decline in ad revenue at its publishing division.
Lee Enterprises said July ad revenue slipped 2.1% to $72.9 million, attributing the small decline to a 7.2% drop in national ad revenue and weakness across all the classified categories. Here, automotive was down 17.4%, employment 13.6%, and real estate 13.2%.