Seven’s West Australian newspaper arm has reported a “challenging” advertising market in the region but says its digital strategy is on track.
The business reported a fall in advertising revenue of 9.8% year-on-year. Circulation revenue declined 7.2% with readership flat year-on-year.
However, West Australian Newspapers (WAN) says its paywall, which was rolled out to regional mastheads in February, is showing positive signs and digital subscriptions are at 60,000, almost double last year.
“Real structural change is underway at The West," says Seven West CEO James Warburton.
"Generational change across regional and community mastheads is in motion, with a digital-first editorial focus.
“The West continues to transform its business model to adapt to ongoing structural challenges in print media.
Digital subscriptions launched in June 2019 for thewest.com.au.
WAN made $21 million in savings in the year to June.
A slide from today's analyst presentation following the release of annual results:
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