The announcement comes after the successful completion of its three-year turnaround strategy launched in January 2016.
Guardian Media Group (GMG) has achieved its key financial goal for its core news business, Guardian News & Media (GNM), to break even at an EBITDA operating level, with profits of £0.8 million.
- The Guardian’s audience has grown substantially with a record number of regular readers and digital traffic.
- GNM has grown revenues across each of the last three years, they are now at their highest level for a decade.
- GNM has reduced costs by over 20%.
- The Guardian now has over 655,000 monthly paying supporters, across subscribers, recurring contributors and members and an additional 300,000 one-off contributors in the last year.
- 55% of GNM revenues are now digital, with good growth in digital advertising, digital subscriptions and reader contributions.
- Three years of outstanding and award-winning The Guardian and The Observer journalism, including a number of global and national exclusives including the Cambridge Analytica Files, the Windrush revelations and the Panama and Paradise Papers.
The Guardian’s ‘relationship strategy’ was launched in January 2016 with a goal of creating deeper relationships with readers, increasing reader revenues, and reducing overall costs by 20%. The financial goal of the strategy was for GNM to break even at operating EBITDA level for the year, ending in April 2019.
More people than ever before are reading, watching and listening to The Guardian journalism from across the world. Over the past year, The Guardian achieved record digital traffic with the highest number of regular readers and monthly page views averaging over 1.1 billion.
Find out more here.