DEATHWATCH: Guardian publisher loses £31million
The publisher of The Guardian - Guardian Media Group - has reported losses of £30.9m. They reported an operating loss of £54.8m also. While both these figures are alarming for the company, both these figures are actually down from previous losses.
However, the group is still struggling to make money as people move to digital and away from trad. arr. press. They have to trim £25m in costs by 2016 and have already shed 60 editorial jobs, which is pretty bleak.
While digital revenue is up, sales of iPhone app subscriptions were down 36%, to around 57,000.
"GMG has made good strategic, operational and financial progress over the last 12 months, giving us increased confidence that we are heading positively and confidently in the right direction," said Guardian Media Group chairman Dame Amelia Fawcett. "Most striking and encouraging has been the continued strong growth in digital revenues, which exceeded the decline in print."
Is the Guardian being too cocksure? Is it going to die? Would you even vaguely miss it if it went under?