A report commissioned by the Association of Online Publishers (AOP) and Deloitte has found that the fall in UK publisher revenues in Q2 2020 was less severe than expected. According to the latest Digital Publishers Revenue Index (DPRI), digital publishing revenues dropped to £96.6m in the period, a drop of 14.3% from Q2 2019.
Revenues from subscriptions grew substantially in Q2, rising 44.9% to £34.5m. The format has done well over the past 12 months, seeing a 27% growth to £112.3m on a rolling basis. Revenues from miscellaneous advertising also increased, growing 25.2% to £83.3m. However, declines were experienced across the board for display, online video, sponsorship, recruitment, and other classified advertising. B2C and B2B publisher revenues also saw a dip, although B2C publishers benefitted from a 41.9% rise in subscription revenue over the past year.
Speaking to members of the AOP board found that many feel optimistic about digital publishing’s recovery from the impact of COVID-19. However, those asked were unanimous in their view that diversifying their revenue streams should be a top priority for publishers over the next year, with no board members planning to make growing their advertiser revenue a part of their broader strategy.