Financial Condition Of Private Publishers Of Local Weekly Newspapers

The condition for the existence of independent local press is its economic self-sufficiency. An analysis of the financial statements of private local weekly publishers shows that their financial condition has deteriorated signifi cantly in recent years. This was mainly due to the decline in print press readership and the outflow of advertisers to the Internet. Revenues from issue sales and advertising revenue in 2018 decreased by an average of 1/3 compared to 2010. The reduction in publishing costs slightly improved the financial results of the owners of local weeklies. Their profits decreased on average by 150%, which for most meant incurring losses on operations. The deteriorating financial condition of publishers threatens a reduction of the quality of the local press, recduction of the number of titles or further concentration of ownership in this media segment. 

The condition for the existence of independent local press is its economic self-sufficiency. An analysis of the financial statements of private local weekly publishers shows that their financial condition has deteriorated signifi cantly in recent years. This was mainly due to the decline in print press readership and the outflow of advertisers to the Internet. Revenues from issue sales and advertising revenue in 2018 decreased by an average of 1/3 compared to 2010. The reduction in publishing costs slightly improved the financial results of the owners of local weeklies. Their profits decreased on average by 150%, which for most meant incurring losses on operations. The deteriorating financial condition of publishers threatens a reduction of the quality of the local press, recduction of the number of titles or further concentration of ownership in this media segment.