Reach cautious on digital revenue outlook after quarterly sales fall

Reach PLC on Wednesday said it is on track to meet market expectations ‘despite digital headwinds’ as it reported lower first quarter sales.

The publisher of the Daily Mirror, Daily Express and a raft of UK regional titles said revenue fell 6.9% on-year in the first quarter of 2026, with print down 6.6% and digital 8.1% lower.

Shares in Reach fell 8.0% to 52.00 pence each in London on Wednesday and have fallen 29% in the last 12 months.

Trading in the quarter was affected by the ‘ongoing disruption in search and referral volumes’, in a continuation of the trends first reported last July, Reach said in a trading statement. On-platform referral volumes, mainly from Alphabet Inc’s Google, were ‘materially lower’ and reduced across the quarter, resulting in the 8.1% decline in digital revenue.

Reach said it has taken actions, including growing off-platform audiences, expanding video content and launching premium subscriptions which are now live across 11 sites.

Chief Executive Piers North said: ‘We are undoubtedly in the middle of yet another big shift in the media world as the digital referral landscape continues to change, but we are navigating this uncertainty appropriately.’

Print revenue decreased 6.6%, with circulation sales down 5.5% and advertising down 13%, despite cover price increases and strong promotional activity.

‘While on-platform audiences are showing signs of stabilisation, we continue to be cautious on digital revenues. We remain confident in delivering the reduction in operating costs, and are on track to deliver in line with market expectations for the full year,’ the firm added.

Reach put market consensus for full-year adjusted operating profit at £95.9 million which would be down 8.4% from £104.7 million in 2025.

Reach will report half-year results on July 22.

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