Gannett Reports Q2 2024 With Digital Revenue Up 6.2% YoY

Gannett, publisher of USA Today and numerous other local newspapers, announced its Q2 earnings on Thursday. It’s a story of rising digital revenue, dropping total revenue, and improved net income.

• Total Revenue: $639.8 million, down 4.8% compared to Q2 2023
• Digital Revenue: $278.4 million, up 6.2% compared to Q2 2023
• Net Income: $13.7 million, up from a $12.7 million loss in Q2 2023

Gannett is a business in transformation. Only 43.5% of its revenue comes from digital, but this is up considerably from 39% a year ago and 35% two years ago. This digital transformation is key for the business. Gannett is projecting to hit 50% of total revenue in 2025 and exceed 55% in 2026.