The Guardian has become a fully digital-first global newsbrand, according to the latest company reports. In the financial year ending 31st March, 56% of all revenue came from digital sources. This is up from a 39% share in the FY15/16 period.
The United States and Australia are particularly important markets outside of the UK, accounting for 17% (£21.5m) and 7% (£9.3m) of total digital income respectively.
This digital growth has been at the expense of print advertising and circulation revenue, which now accounts for 43% of total revenue. Indeed, print advertising contributes just 8%.
Overall, two-fifths (40%) of revenue came from advertising in the FY18/19 period – the largest segment. However, this is down seven percentage points from FY15/16. This comes as the publisher looks beyond advertising for future growth – 'reader revenues', one-off or monthly donations, grew its share the most over this period to 28%.
Overall, The Guardian's total revenue grew 3.5% year-on-year in FY18/19. This took total revenue up to £224.5m and enabled the publisher to reach its break-even target.
This comes as newsbrands adapt to a digital world. Globally, print advertising revenue halved between 2009 and 2017 and digital advertising isn't growing quick enough to offset this decline. Subscriptions are now the preferred revenue model, with digital paywalls becoming more common and more expensive among print newsbrands.