Newspaper group National World grows profits after increasing video content
The newspaper group said growth has been achieved despite it still grappling with tougher economic conditions and print media challenges.
Yorkshire Post and The Scotsman publisher National World has reported higher profits and sales after launching new subscriptions and ramping up video content.
The newspaper group said growth has been achieved despite it still grappling with tougher economic conditions and print media challenges.
The company generated revenues of £96 million for 2024, 9% more than it made the previous year.
Its pre-tax profit jumped nearly 50% year-on-year to £4.5 million.
National World owns a raft of regional publications covering the UK including Lancashire Post and Sheffield Star. It makes the bulk of its revenues from printed newspapers, and around a fifth from digital content.
It is in the middle of being taken over by Media Concierge after reaching a £65 million deal last year.
The publisher made a series of acquisitions last year including Athletics Weekly, the Serious About Rugby League website, and The Business Magazine.
These purchases helped it make more money from events, with 150 held during the year across a range of industries.
The number of paying digital subscribers across the group’s publications surged by 17% in 2024, driven by the launch of new subscription packages and digital offers with fewer adverts.
National World said it had been homing in on video content – with around 78% of online articles now including videos, and hundreds of staff trained to produce content.
Local video advertising “propelled” sales growth last year, chairman David Montgomery said.
“Acquisitions and launches, including the development of TV, events and social media are driving a new sustainable model for local and national publishing,” according to the chairman.
“Automation through AI and other efficiencies in the production areas have released resources to focus on specialised monetisable content, particularly in sport, business and lifestyle.”
He added that the “good” 2024 results had been achieved despite economic challenges, with consumers still facing a disposable income squeeze, and distractions from its takeover.
National World has been moving towards fully automating the production of its newspapers, by using artificial intelligence (AI) for the design and production of pages for print.
It also uses a system to automate “content resourcing”, whereby contributors can upload articles to go online or in newspapers, therefore bypassing reporters and going straight to editors to review.
National World employed about 1,100 staff at the end of the year.
New acquisitions over the past two years meant it took on about 300 members of staff. But the remaining workforce was reduced by about 12% last year, it said.
