Gannett Co. Inc. has completed the rollout of metered paywalls across its U.S. Community Publishing unit and said the initiative will reach its target of contributing $100 million to operating income in 2013.
Speaking before the UBS Global Media and Communications Conference, USCP President Bob Dickey said meters are now in place across 78 local publishing markets. “Early results indicate we are solidly on the right track,” he said. Dickey added that the unit is seeing subscription revenue growth of 21 percent, on average, depending on the timing of the launch.
More than 950,000 Gannett subscribers have purchased digital plans, with digital-only subs totaling 40,000, according to Poynter.org.
Gracia Martore, Gannett president and CEO, said the company is positioned to deliver an annual revenue growth rate in the range of 2 percent to 4 percent in the coming years.
Company-wide, Gannett said it expects digital revenues to reach $1.3 billion in 2012, a 19 percent increase from 2011.
“We are transforming the company by harnessing our powerful local brands, national scale and financial strength and are on the offensive to further enhance our position in the rapidly evolving digital world,” Martore said in a statement.
Company wide digital revenues are expected to reach $1.3 billion this year, a 19 percent increase from 2011.