Lee Enterprises reports strong digital growth in the first quarter
DAVENPORT, Iowa, March 02, 2023 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ: LEE), a digital-first subscription platform providing high quality, trusted, local news, information and a major platform for advertising in 77 markets, today reported preliminary first quarter fiscal 2023 financial results(1) for the period ended December 25, 2022.
- “Lee delivered strong first quarter digital growth with consistent execution of our Three Pillar Digital Growth Strategy,” said Kevin Mowbray, President and Chief Executive Officer.
- “We are pleased with our impressive digital subscription growth and digital subscribers now total 564,000, a 25% increase over the prior year.
- We are also driving higher rates as revenue from digital subscriptions was up 56% in the quarter.
- Digital advertising revenue increased 12%, with Amplified Digital revenue growth of 45%.