UK regional publisher Johnston Press announced a 5.4 percent plunge in ad revenue during the 18 weeks prior to November 6 that was accounted for by a deteriorating public sector and recruitment advertising, Business7 wrote today. However, Reuters pointed out that the fall was slightly less than during the first half, which was 6.3 percent.
"Despite the decline in total advertising revenues being slightly worse than previously anticipated, this has been largely offset by increased cost savings and therefore it is expected that the outcome for the year will be satisfactory," Johnston said, Hold The Front Page reported.
The plunge in print ad revenues (not counting recruitment) during the second half of 2010 leveled to 2.5 percent. Although property advertising received a boost, recruitment ads sunk by 29 percent since last year.
Johnston hinted that public sector ad market was "particularly difficult "but it only constituted nearly 9 percent of Johnston's total ads in the third quarter, Busiiness7 informed. The publisher explained that this drop was "sufficient to slow the overall rate of improvement in advertising performance," a report by MediaGuardian stated.