The Guardian revenue soars in Australia, as the UK lags
According to its latest full-year results, Guardian Media Group, owner of The Guardian and The Observer, has seen a 24% leap in revenue in Australia and New Zealand, despite the UK business taking a hit.
The publishing group saw £27.8 million (A$52.82 million) in revenue down under, a 24% increase year-on-year. The Australian and New Zealand markets are the third biggest ones for the media group, after the UK, and US and Canada.
Total revenues increased by 3.4% to £264.4 million (A$502.42 million) for the year ended 2 April 2023. International revenue grew 17% to £93.2 million (A$177.09 million) and now accounts for 35% of the overall revenue.
North America and Australia also saw an increase in readers’ contribution.
The adjusted net cash outflow was £21 million (A$39.9 million), which the group attributed to “planned investment” in editorial teams, newsletters, podcasts and digital capabilities, including in Guardian US and Guardian Australia.
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Guardian Media Group chief executive Anna Bateson said: “The Guardian is becoming a truly global news organisation with more than one million paying digital supporters in addition to our print subscribers and one-off contributions.
“In a difficult economic climate we have continued to invest in quality journalism and in our digital business capabilities to advance this strategy which has brought revenue growth and a continued rise in digital reader revenues from across the globe.”
Guardian Media Group chair Charles Gurassa said: “It is thanks to the support of our readers that we can reach the broadest possible audiences to have access to independent, high quality journalism that is open to all.”
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Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.
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