Reach revenues fall 14pc in Q3 as digital disruption deepens.
Publisher Reach said on Tuesday that third‑quarter trading remained under pressure, with group revenues down 14.1% year‑on‑year, as industry‑wide disruption to digital referrals continued to weigh heavily on performance.
Source: Sharecast
Digital revenues fell 20.3%, driven by a 29.7% drop in indirect revenue linked to lower on‑platform audience levels, while direct digital revenues declined a more modest 5.5%, helped by improved off‑platform income, including AI‑licensing revenue.
Print revenues decreased 12%, with circulation trends broadly in line with Q2, but print advertising, on the other hand, performed well, boosted by demand around the FIFA World Cup.
Reach said it was executing strategic priorities to counter digital headwinds, including strengthening core brands, monetising high‑quality video content and diversifying revenue streams away from traditional on‑platform advertising.
The London-listed firm also launched a restructuring programme during the quarter, with full‑year operational cost savings expected to exceed the 10% delivered in the first half. Total cash restructuring costs for the year - including those tied to print‑site closures - were estimated at £35m to £40m.
Despite the ongoing pressure on digital, Reach said it remained on track to deliver full‑year results in line with market expectations, while maintaining a cautious outlook for digital revenues.
As of 1130 BST, Reach shares were down 1.60% at 46.25p.
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