Total digital publishing revenue was GBP 151.6million in Q1 2022, with 50% of respondents reporting positive growth. Digital revenue grew 18% to GBP 610.3million on a 12-month moving annual total basis to March 2022. During Q1 digital audio increased by 500% to GBP 4.2million when compared to Q1 2021. UK’s  Association of Online Publishers and consultancy Deloitte report.

Subscriptions were up 14.7% in Q1 2022 to reach an income of GBP 38.2million. AOP said this is ”confirming that appetite to pay for quality journalism remains strong”.

“We’ve seen revenue for digital audio grow steadily over the last few quarters, driven in part by what’s being deemed the ‘golden age of podcasts’. The 500% revenue growth reported for this channel in Q1 2022 demonstrates that publishers are now successfully monetising this type of content. It’s also interesting to see the drop in revenue for mobile and desktop-only devices, as this indicates the continued shift towards multi channel campaigns”, said Richard Reeves, managing director of AOP.

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Display advertising held its position as the largest category by revenue for digital publishers; with income reaching GBP66.4million in Q1 2022, an increase of 23.9% against Q1 2021.

Multi-platform revenue increased 21.7% compared to Q1 2021, while mobile devices and desktop noted revenue declines of 16.1% and 35.2% respectively in Q1 2022.

”This indicates advertising campaigns are being run across at least two different devices, reflecting the way consumers access content across platforms”, AOP said.

”B2B and B2C publishers experienced an uptick in publishing revenues, both on a 12-month rolling basis and as a year-on-year change. B2B revenue increased by 8.7% in March 2022 relative to March 2021, increasing to GBP 52.7 million. Meanwhile, B2C revenue grew by 24.3% in March 2022 vs March 2021, driven by a significant expansion in sponsorship and digital audio.”

Half of respondents reported positive revenue growth, with 83% reporting ‘advertising revenue growth’ as a high priority for their business in the next 12 months.

”All respondents believe new products will be a key focus for their business in the next year, however cost reduction targets also remain important.”

“Many digital publishers have looked to the airwaves for growth in the past two-years, launching radio offerings and podcasts that entice new audiences and spark rising revenues”, said Dan Ison, lead partner for telecommunication, media and entertainment at Delotte.

”At a time when the cost-of-living crisis is squeezing household finances, many will be questioning the necessity of their media subscriptions. This makes it all the more important for publishers to be concentrating on the creation of regular, unmissable content.”