McClatchy, the parent company of the Kansas City Star, reported a boost in paywall subscribers in its quarterly earnings statement Thursday.
The Plus Program, rolled out to all McClatchy papers in December, now has more than 25,000 subscribers, a boost of about 3,000 from its 1st quarter report, in which it netted 22,000 subscribers. CEO Patrick Talamantes said “exceeded our initial expectations and we are on target to meet our guidance of generating approximately $25 million in new revenues in 2013. In total, the Plus Program provided more than $8 million in incremental revenues contributing to the 4.8% growth in total circulation revenues for the quarter.”
In its 1st quarter statement, the company said it earned more than $5.8 million in paywall subscriptions. So far, it’s brought in about $8 million, the company said.
Total revenues, however, were down more than 3 percent from last year, sitting at $308.8 million. Circulation revenues were up 4.8 percent, to $88.5 million, while ad revenues were down 6.7 percent, to $207.7 million. Digital revenue was up 10.6 percent compared to last year.
In total, digital advertising represents 24.1 percent of McClatchy’s total ad revenue ($50.1 million), up from 22.5 percent in the 2nd quarter of last year.
The company reported a $6.4 million revenue boost from selling the headquarters of the Miami Herald.
As for the first six months of the year: “Total revenues in the first six months of 2013 were down 3.7% to $603.9 million compared to $626.8 million in 2012. Advertising revenues in the 2012 period totaled $404.8 million, down 6.4%, and circulation revenues were $174.3 million, up 3.0%.”