Britain’s Telegraph Group is blaming lack of confidence in the economy for a slide in first-quarter advertising.
The group – publisher of broadsheet newspapers Daily Telegraph and Sunday Telegraph– revealed that ad revenues slipped 6.5% in Q1 to £55.1 million ($90.0m; €77.3m). Classifieds have been particularly hard hit, with recruitment income down 17.5% and car advertising down 12%.
Telegraph suffered the most severe adspend falls in March, a slide it blamed on fears over the economic outlook.
As a result, operating revenue at the group – the UK unit of international media company Hollinger International, fiefdom of Lord Conrad Black – slipped to £84m, down from £86.6m in Q1 2002.
Data sourced from: Mad.co.uk; additional content by WARC staff