Jeff Mignon

Record digital revenues for Norwegian newspaper giant

Norwegian media company Schibsted today reported that 61 per cent of its operating revenues now comes from its network of websites.

At the end of 2007, analysts predicted that digital revenues for Schibsted, which owns newspapers all over Europe, would rise to 60 per cent during 2008.

Today’s first quarter results reveal that the newspaper publisher has met this target already.

The company earned 51 per cent of its revenue from its online activities in 2007. Its latest set of financial figures show the company now earns 61 per cent from its market leading news and classifieds sites. The year-on-year increase in digital revenues from first quarter 2007, was 29 per cent.