DallasNews Corporation reported a total net operating revenue of $125.4 million for the fiscal year ending December 31, 2024, reflecting a decrease of 10.2% from $139.7 million in 2023. The company's operating loss narrowed to $7.1 million, an improvement from the $8.1 million loss reported in the previous year. The decline in revenue was primarily attributed to a significant drop in advertising and marketing services revenue, which fell by 18.9% to $47.9 million, and a 17.7% decrease in printing, distribution, and other revenue, which totaled $12.6 million. Conversely, circulation revenue remained relatively stable, decreasing slightly by 0.7% to $64.9 million, with digital circulation revenue increasing by 11.7%.
In terms of strategic developments, DallasNews has made significant changes to its operations, including the decision to exit its shared mail program for delivering weekly preprints and the discontinuation of print-only editions of niche publications. These moves were part of a broader strategy to streamline operations and focus on digital platforms. The company also announced the sale of its Plano, Texas printing facility for $43.5 million, with plans to transition to a smaller leased facility, which is expected to yield annual expense savings of approximately $5 million once fully operational.
Operationally, DallasNews reported a decrease in employee headcount, with 526 employees as of December 31, 2024, down from 601 a year earlier, primarily due to a voluntary severance program. The company continues to focus on enhancing its digital offerings, with digital advertising revenue remaining stable and digital-only subscriptions increasing. The Dallas Morning News, the company's flagship publication, maintains the highest paid print circulation in the North Texas area, although it faces ongoing challenges from free online news sources.
Looking ahead, DallasNews is committed to diversifying its revenue streams and enhancing its digital marketing capabilities through its agency, Medium Giant. The company aims to improve its digital subscription model and increase advertising revenue on its digital platforms. However, it acknowledges the ongoing challenges posed by the decline in print advertising and circulation, which may continue to impact overall revenue. The company has suspended dividend payments to conserve cash for operational needs and capital investments related to its transition to a new printing facility.
About DallasNews Corp
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