Oct 13 : Daily Mirror publisher Reach said on Tuesday digital revenue remained under pressure in the third quarter, and that it remained cautious about the segment's full-year outlook as industry-wide disruption weighed on audience traffic from Google.
• News publishers are navigating falling print readership and weaker referral traffic from platforms such as Google amid the rise of AI chatbots.
• Google's AI Overviews, which answer queries directly in search results, have drawn complaints from publishers over falling traffic and advertising revenue.
• Reach's revenue fell 14.1 per cent in the quarter, with digital revenue down more than 20 per cent .
• Shares of the company fell as much as 4.3 per cent to 44 pence in early trade, before paring losses and trading largely flat as of 0717 GMT.
• The company said print advertising was supported by the FIFA World Cup, and off-platform revenues benefited from AI licensing agreements.
• It is restructuring its business, including closing print sites, as it looks to reduce costs and offset pressure from declining print sales and weaker digital traffic.
• Reach said it remains on track to deliver full-year results in line with market expectations. ($1 = 0.7561 pounds)