New decline in print advertising revenues for Fairfax Media and News Corp
The print advertising market has taken another downturn with Fairfax Media and News Corp both revealing declining revenue in the first quarter of the 2015-16 financial year.
The numbers suggest that after a period of relative stability, print revenues have returned to a downwards trajectory. However, both publishers pointed towards good progress in their real estate operations.
In its trading update presented to its AGM on Thursday, Fairfax Media said publishing revenues for its metro division – which includes the Sydney Morning Herald and The Age – were down by 9 per cent for the quarter, with its regional operation down 11 per cent.
Hywood: Conditions difficult
“However, both publishers pointed towards good progress in their real estate operations.”
Not for long.
And when the housing market goes sour, will Fairfax and News stand up and take responsibility for their shameless spruiking of endless growth? Thousands of idiot investors were hoodwinked into believing this line of bullshit.
‘Independant Always’ stops dead at the real estate section.
Fairfax has nothing to say about its core products. So the suspicion that its execs are more interested in their own bling than their products is confirmed.
Hywood talks a lot about the Fairfax journalism but he has effectively killed it. His tenure has turned Fairfax into an emaciated rump, dominated by a real estate business that relies on estate agents having a share of the deal.