Guardian News & Media’s focus on digital content is showing signs of success after the publisher revealed digital revenue has increased by 28.9 per cent to £55.9m.
The increase in revenue from digital channels has seen turnover rise slightly to £196.3m compared with the £196.2m reported last year. Online operations now account for just over 28 per cent of the publisher’s total revenues.
Losses have also hit their lowest levels since 2008, the publisher spending £30.9 million on operating costs, a 30 per cent cut from last year’s figures.
“Having committed to digital earlier than our peers, we are now reaping the benefits,” said the group’s chief executive, Andrew Miller. “Investing in the future is a key part of our strategy for this news organisation.”
The group is two years into a five-year plan to make the publisher financially sustainable. The plan has seen the Guardian‘s editor, Alan Rusbridger, take a ten per cent pay cut in 2012, print costs cut by £9m and the Global Radio brand sold on.
Guardian News & Media’s digital revenues remains above those of the world’s largest newspaper website, Mail Online.