The Daily Mail’s print advertising fell by 11% year on year in the three months to the end of June, a significant improvement over the 15% decline in the first quarter.
Print advertising revenue recovered even more strongly in the three weeks after 26 June following the UK’s vote for Brexit – a possible signal that the worst of the ad downturn is over. The decline in print ad revenue across its whole portfolio, including daily freesheet Metro, was 10% year on year in the three months to 26 June.
Even more encouraging is a snapshot that shows that in the three weeks since 26 June print advertising declined by just 8%. The figures will be welcomed by investors who sent parent company DMGT’s shares tumbling by 9% when the company issued a profits warning after revealing poor first-quarter results at its media operation.