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Posts Tagged ‘The McClatchy Co.’

McClatchy Considers Pay Wall

kans22as.jpgEarlier today The McClatchy Co. gave a strong impression that 2010 is going to be a good year: online ad sales are on the rise (as they’ve been elsewhere in the industry) and circulation numbers are up. So why would the company start experimenting with pay walls for one of its newspaper’s Web sites, as CEO Gary Pruitt mentioned today in a media conference call?

Pruitt stressed that 44 percent of ad money was currently coming through digital channels last quarter, and that an ad-based revenue system “isn’t broken…but we’ll learn from everything.” So despite the fact that a pay wall will hit a newspaper — like McClatchy’s Kansas City Star — exactly where McClatchy is beginning to see some growth (circulation, online ad sales) the company is planning to try out a pay wall model for a yet-unnamed title, if only for “ideological” reasons.

There are few details available at the moment, but McClatchy’s pay wall system will resemble more Variety‘s plan than The Wall Street Journal‘s, with users being able to view a certain number of sites before they are asked to pay. We can’t blame McClatchy for trying a system that everyone from The New York Times to regional dailies believe is the future of online revenue, but we’re glad that they’re not jumping headfirst into a model that has yet to be proven as successful as print ad sales once were.

Read More: Commentary: McClatchy To Experiment with Pay Model –Editor & Publisher

Previously: Can Classifieds, Online Ads Save McClatchy?

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Can Classifieds, Online Ads Save McClatchy?

mcclatchy.jpgReporting its fourth quarter and year-end earnings report today, newspaper publisher The McClatchy Co. seemed optimistic about the future of classified and online advertising.

Although the company reported declines in revenue for the quarter and the year — down 16.5 percent for the fourth quarter compared to last year and down 22.6 percent for the year — circulation revenues actually increased by 6.6 percent during the last quarter of the year, along with online advertising revenues, which were up 14.9 percent for the quarter. Circ revenues grew a total of 4.8 percent year over year.

CEO Gary Pruitt pointed to the uptick in digital advertising as an important growth point for the company, and added that classified ads seem to be making a comeback:

“We’re seeing some evidence of a recovery in classified advertising. It’s typically the first area of our business to suffer in a downturn — and also the first to rebound when the economy improves.”

McClatchy is also workoing on a “transition to a successful hybrid print and online company,” as its online audiences and Web advertising continues to grow. In fact, the company’s online advertising across its papers’ sites make up 16.2 percent of its total advertising revenue for the year.

Read more

Newspaper Publisher McClatchy Poised For Turnaround In 2010?

mcclatchy.jpg2009 has undoubtedly been a rough year for all manner of media companies, not the least of which is The McClatchy Co., which reported a 23.1 percent decline in revenues last quarter and has been struggling with layoffs and a wage freeze since September 2008.

But there is some hope. Yesterday, McClatchy chairman and CEO Gary Pruitt sent a memo to staffers letting them know the wage freeze was set to be lifted in the coming year, McClatchy paper The Sacramento Bee reported. What’s more, Pruitt was upbeat about his business while speaking this morning at the UBS Global Media and Communications Conference. Pruitt told the conference that all 30 of McClatchy’s newspapers are profitable and that the company “expects to maintain, if not grow, cash flow in 2010,” Editor & Publisher said.

And things do in fact seem promising for the publisher: in reporting its third quarter earnings in October, McClatchy revealed circulation revenues had actually grown 6.7 percent during the quarter to $69 million, although advertising revenues were, not surprisingly, down. Online revenues also saw growth during the third quarter, and now make up 17.6 percent of McClatchy’s total advertising revenues compared to 12.2 percent of total advertising revenues in the third quarter of last year, indicating the company’s move towards more digital integration of its content. McClatchy has also announced plans to distribute digital versions of its papers, including the SacBee, to e-readers like the Kindle sometime in the new year.

Looks like McClatchy might be one to watch in 2010.

McClatchy Co. will lift wage freezeSacramento Bee

Pruitt Upbeat On McClatchy: Debt Cut, All Papers Profitable

Previously: McClatchy Papers Go Digital, McClatchy Q3 Earnings: Ad Revenue Down, Circulation Revenue Up