Mediahuis sees 11% rise in subscribers and strong revenue growth
Mediahuis, the publisher of the Luxembourg Times, recorded an 11% increase in subscribers last year and a substantial growth in revenue at its titles in four countries as the group’s digitalisation strategy gathered pace, according to its annual results for 2020.
Based in Antwerp, the group also owns several newspapers and websites in Belgium, the Netherlands and Ireland, as well as classified platforms and radio and television stations.
Operating income was up by more than €132 million from 2019, with a net profit of €58.6 million in 2020, a marked increase from €14.7 million the previous year. The group’s debt was also slashed by more than half in the last 12 months, dropping to €66 million at the end of 2020.
The total number of subscribers rose to more than 1.5 million last year, an increase of 11%.
In April last year Mediahuis acquired, the Luxembourg Times - which launched a new website this week - the Luxemburger Wort and the other titles of newspaper publisher Saint-Paul Luxembourg SA.
Although advertising income dropped by between 10% and 20% last year as the Covid-19 pandemic struck, Mediahuis said its strong revenue growth for 2020 could be attributed to the addition of Saint-Paul Luxembourg and NDC mediagroup, and the inclusion of a full year’s figures for Independent News and Media in Ireland, which Mediahuis bought in 2019. Formed in 2013, Mediahuis has around 4,300 employees and an annual turnover of €1 billion.