However, he said print advertising – which was down by 15% year on year – would continue to fall across the industry. The Guardian has confirmed losses of £69m for the last financial year but said it was making significant progress in its membership scheme, with more than 50,000 people paying to sign up. The membership scheme is a core part of the Guardian’s plan to more than double revenue generated from readers from £30m to £68m within three years. Pemsel added: “We want to deliver on membership, we want Labs to succeed, we want America to hit its numbers. Pemsel said the membership scheme was still in its early days and the Guardian was trying a range of methods to encourage people to sign up.

Source: The Guardian July 27, 2016 08:00 UTC