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National newsbrand sees increased digital revenues and hires

Reach plc has issued a trading update covering June 28 2021 to November 21 2021.

The publication firm has seen a more normalised pattern of year-on-year trading during H2, following the relatively soft H1 comparatives. Revenue has continued to grow and was up 1.2 per cent overall in the period, with digital up 17.2 per cent and print declines moderating further to 3.5 per cent.

A strong digital revenue performance in the period was driven by yield expansion, supported by strategic delivery and a recovery in digital advertising versus 2020. On a two-year basis, digital revenue growth is up by 39 per cent for the year-to-date, with average page views growing by 30 per cent.

Customer registrations are now over 8m (6.7m at end of July), with growth supported by the recent addition of Google ‘one tap’ functionality, a more frictionless route to sign-up, enabling deeper customer understanding.

So far this year Reach has hired c.400 additional digital editorial roles in both national and local titles and completed the rollout of the local Live network into every county of England and Wales.

Jim Mullen, Reach plc chief executive, said: “Strategic delivery is transforming our prospects for growth and we’re progressing towards our goal of doubling digital revenue over the medium term.

“Registration numbers are strong, and advertisers are responding to our expanded portfolio of data-led products. Together with our efficient operating model, this is enabling us to invest further in digital content as we build a modern and inclusive media business.”

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