20 Minutos still loses money after cuts

20minutos_vallodolid_finalNorwegian mediahouse Schibsted announced in its annual report 2012 that Spanish free daily 20 Minutos lost €6.9 million in 2012 (€3.6 million in 2011), even after the paper closed seven editions in Spain.

Operating revenues went down from €22.3 million (2011) to €17.4 million in 2012.

After the summer, the editions for Alicante, Murcia, Bilbao, Valladolid (the last edition right), Coruna, Vigo and Asturias did not return.

2o Minutos is now only published in Barcelona, Madrid, Sevilla, Zaragoza, Valencia, Malaga, Granada and Cordoba. Its circulation is down to 560,000 (in 2007 it was over a million).

As all national competitors of 20 Minutos closed down during the last years – Metro in 2009, ADN in 2011, Qué! in 2012 – the loss shows how extremely difficult the Spanish advertising market is.

In Mexico 20 Minutos, however, launched a digital version of the paper.

In France sister paper 20 Minutes (50 share) showd a small profit of €1.5 million.

Readership of 20 Minutos dropped with 10% from 2.1 million to 1.9 million. Because of this 20 Minutos is now the third paper in Spain after sports paper Marca (+2% in readership) and El Paìs (+1%) according to the latest EGM-data.

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