Q4 TV pacing down double digits
With no federal election this year Gannett’s television stations saw October revenues drop 24.5%. Excluding political, though, revenues were up 9.6%. All in for the broadcasting unit, including the Captivate in-elevator service, revenues were down 23.6% to 83.6 million. Gannett also notes that online revenues for its broadcasting division shot up 30%.
"Based on October results and pacings for November and December, television revenues for the fourth quarter of 2007 would lag last year’s fourth quarter in the very high teens. As a reminder, revenues related to political advertising were almost 58 million in the fourth quarter of 2006," the company said in its monthly report.
On the much larger newspaper side, October ad revenues were down 5.3% to 461.1 million. Local was off 2.3%, national also 2.3% and classified advertising took the biggest hit, down 9.7%.