Berlingske Media delivers profit of DKK 63 million in the face of Covid-19
Berlingske Media delivered an operating profit of DKK 63 million in 2020, despite a negative advertising market impacted from Covid-19 and lockdowns. The media group’s revenue fell to DKK 734 million due to ailing sales of both digital and print advertisements. B.T. was particularly hard hit by the sharp fall in the advertising spending, while the crisis seemed to take less of a toll on Berlingske, Weekendavisen and Euroinvestor.
‘Before Covid-19 struck Denmark, we were expecting to see growth in the advertising market in 2020. The reality was more grim. Despite the circumstances we’re proud of the result. We are expecting growth to pick up again as Denmark reopens,’ says Anders Krab-Johansen, CEO and Publisher of Berlingske Media.
Because of the Covid-19 crisis Danes have read more news than ever before. In late Summer 2020, B.T. could call itself Denmark’s largest digital news outlet. That growth continued with the news site superseding 600 million page views by the end of the year.
The Danish public’s demand for trustworthy news, analysis and commentary was also apparent in the Group’s subscription-funded media. Berlingske exceeded 90,000 paid subscriptions in the Autumn and is on course to achieve 100,000 subscriptions by the end of this year. In 2020, Berlingske became, for the first time in many years, the most profitable news media in the Group.
Weekendavisen continued its healthy growth with more than 46,000 subscriptions, a growing share of which are digital. Readers want to be challenged and informed every weekend, and that forms the foundation for a healthy business.
2020 was characterised by the pandemic. Covid-19 impacted advertising revenue, but it also spurred the digital transition. Berlingske Media is Denmark’s leading digital media outlet, and we stand stronger and better prepared for new challenges.
‘We’re ready for investments in journalism. The need for a free, conservative press is greater than ever,’ says Anders Krab-Johansen.