Like other newspaper publishers, McClatchy continues to post declining revenue ─ but a glimmer of optimism may be shining through the gloom. The publisher of 30 daily papers including the Miami Herald, the Sacramento Bee, and the Anchorage Daily News said today it recorded an 8 percent revenue decline in April and May compared to last year, which it said is better than the 9.5 percent decline in the first three months of the year. Advertising revenue declined 9 percent in April and May, which the company also said is also better than the first three months of the year.
Though McClatchy is putting a positive spin on an otherwise fairly depressing report, the publisher is still faring worse than its competitors. The Times Company, which publishes the New York Times, recorded a 3.6 percent revenue drop last quarter, with advertising revenue falling 4.4 percent. Gannett, which publishes 82 daily papers in the U.S., saw its revenue fall 6.2 percent last quarter, with advertising revenue dropping 7.3 percent. News Corporation, Rupert Murdoch’s media conglomerate, posted a 6 percent drop in revenue for its last quarter.
Despite the apparently slowing decline, McClatchy still might be feeling some pressure to keep whatever ad revenue it can and not fall too far behind these other publishers. Which could explain why the Miami Herald printed this last week.