US newspaper advertising revenues rose by approximately 2% in the second quarter of the year, according to an analysis of newspaper publishers’ results by Merrill Lynch.
All but one newspaper group have reported figures for the quarter to June and the consensus of 2% growth shows a marginal improvement over the Q1 rise of 1.5% to 2%.
There is a sign of an improving growth, with June up almost 3%, whilst May rose by just 1% and April was up 2%. The June figures were generally better than market expectations. Analysts are forecasting third quarter growth of around 3%, although the summer months are typically weaker for newspapers.
The final quarter of the year could see a stronger pick-up, but comparisons do become tougher due to the fact that Q4 2002 ended strongly, with growth of 4.5% (and 7.5% in December).
