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Revenues | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenues | NOTE 2 — Revenues Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company's condensed consolidated statements of operations and comprehensive income (loss) present revenues disaggregated by revenue type. Sales taxes and other usage-based taxes are excluded from revenues. The following tables present our revenues disaggregated by segment and revenue type:
| Three months ended June 30, 2024
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Corporate and other |  | Intersegment eliminations |  | Consolidated
Digital advertising | $ | 70,922 |  |  | $ | 13,543 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 84,465 |
Digital marketing services | 35,967 |  |  | 1,925 |  |  | 123,798 |  |  | — |  |  | (38,377) |  |  | 123,313 |
Digital-only subscription | 44,622 |  |  | 1,660 |  |  | — |  |  | — |  |  | — |  |  | 46,282 |
Digital other | 20,444 |  |  | 2,616 |  |  | — |  |  | 1,258 |  |  | — |  |  | 24,318 |
Digital | 171,955 |  |  | 19,744 |  |  | 123,798 |  |  | 1,258 |  |  | (38,377) |  |  | 278,378 |
Print advertising | 119,000 |  |  | 19,904 |  |  | — |  |  | — |  |  | — |  |  | 138,904 |
Print circulation | 146,690 |  |  | 16,633 |  |  | — |  |  | — |  |  | — |  |  | 163,323 |
Commercial and other(a) | 54,264 |  |  | 4,971 |  |  | — |  |  | — |  |  | — |  |  | 59,235 |
Print and commercial | 319,954 |  |  | 41,508 |  |  | — |  |  | — |  |  | — |  |  | 361,462 |
Total revenues(b) | $ | 491,909 |  |  | $ | 61,252 |  |  | $ | 123,798 |  |  | $ | 1,258 |  |  | $ | (38,377) |  |  | $ | 639,840 |
(a) For the three months ended June 30, 2024, included in Commercial and other revenues was Commercial printing and delivery revenues of $37.3 million and $2.6 million at the Domestic Gannett Media and Newsquest segments, respectively. (b) Revenues generated from international operations comprised 11.1% of total revenues for the three months ended June 30, 2024.
| Three months ended June 30, 2023
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Corporate and other |  | Intersegment eliminations |  | Consolidated
Digital advertising | $ | 69,175 |  |  | $ | 12,321 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 81,496 |
Digital marketing services | 35,357 |  |  | 2,301 |  |  | 122,789 |  |  | — |  |  | (37,908) |  |  | 122,539 |
Digital-only subscription | 36,601 |  |  | 1,255 |  |  | — |  |  | — |  |  | — |  |  | 37,856 |
Digital other | 15,898 |  |  | 2,641 |  |  | — |  |  | 1,673 |  |  | — |  |  | 20,212 |
Digital | 157,031 |  |  | 18,518 |  |  | 122,789 |  |  | 1,673 |  |  | (37,908) |  |  | 262,103 |
Print advertising | 131,311 |  |  | 17,964 |  |  | — |  |  | — |  |  | — |  |  | 149,275 |
Print circulation | 178,264 |  |  | 17,492 |  |  | — |  |  | — |  |  | — |  |  | 195,756 |
Commercial and other(a) | 61,588 |  |  | 3,635 |  |  | — |  |  | — |  |  | — |  |  | 65,223 |
Print and commercial | 371,163 |  |  | 39,091 |  |  | — |  |  | — |  |  | — |  |  | 410,254 |
Total revenues(b) | $ | 528,194 |  |  | $ | 57,609 |  |  | $ | 122,789 |  |  | $ | 1,673 |  |  | $ | (37,908) |  |  | $ | 672,357 |
(a) For the three months ended June 30, 2023, included in Commercial and other revenues was Commercial printing and delivery revenues of $45.0 million and $1.9 million at the Domestic Gannett Media and Newsquest segments, respectively. (b) Revenues generated from international operations comprised 10.0% of total revenues for the three months ended June 30, 2023.
| Six months ended June 30, 2024
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Corporate and other |  | Intersegment eliminations |  | Consolidated
Digital advertising | $ | 141,863 |  |  | $ | 27,068 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 168,931 |
Digital marketing services | 72,053 |  |  | 4,013 |  |  | 240,843 |  |  | — |  |  | (77,182) |  |  | 239,727 |
Digital-only subscription | 86,533 |  |  | 3,228 |  |  | — |  |  | — |  |  | — |  |  | 89,761 |
Digital other | 39,241 |  |  | 5,355 |  |  | — |  |  | 2,862 |  |  | — |  |  | 47,458 |
Digital | 339,690 |  |  | 39,664 |  |  | 240,843 |  |  | 2,862 |  |  | (77,182) |  |  | 545,877 |
Print advertising | 234,619 |  |  | 38,961 |  |  | — |  |  | — |  |  | — |  |  | 273,580 |
Print circulation | 302,936 |  |  | 33,710 |  |  | — |  |  | — |  |  | — |  |  | 336,646 |
Commercial and other(a) | 110,383 |  |  | 9,115 |  |  | — |  |  | — |  |  | — |  |  | 119,498 |
Print and commercial | 647,938 |  |  | 81,786 |  |  | — |  |  | — |  |  | — |  |  | 729,724 |
Total revenues(b) | $ | 987,628 |  |  | $ | 121,450 |  |  | $ | 240,843 |  |  | $ | 2,862 |  |  | $ | (77,182) |  |  | $ | 1,275,601 |
(a) For the six months ended June 30, 2024, included in Commercial and other revenues was Commercial printing and delivery revenues of $77.8 million and $5.1 million at the Domestic Gannett Media and Newsquest segments, respectively. (b) Revenues generated from international operations comprised 11.1% of total revenues for the six months ended June 30, 2024.
| Six months ended June 30, 2023
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Corporate and other |  | Intersegment eliminations |  | Consolidated
Digital advertising | $ | 136,849 |  |  | $ | 24,857 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 161,706 |
Digital marketing services | 67,422 |  |  | 4,495 |  |  | 235,606 |  |  | — |  |  | (72,301) |  |  | 235,222 |
Digital-only subscription | 71,279 |  |  | 2,408 |  |  | — |  |  | — |  |  | — |  |  | 73,687 |
Digital other | 30,789 |  |  | 5,106 |  |  | — |  |  | 3,071 |  |  | — |  |  | 38,966 |
Digital | 306,339 |  |  | 36,866 |  |  | 235,606 |  |  | 3,071 |  |  | (72,301) |  |  | 509,581 |
Print advertising | 259,488 |  |  | 37,741 |  |  | — |  |  | — |  |  | — |  |  | 297,229 |
Print circulation | 366,767 |  |  | 34,443 |  |  | — |  |  | — |  |  | — |  |  | 401,210 |
Commercial and other(a) | 125,537 |  |  | 7,717 |  |  | — |  |  | — |  |  | — |  |  | 133,254 |
Print and commercial | 751,792 |  |  | 79,901 |  |  | — |  |  | — |  |  | — |  |  | 831,693 |
Total revenues(b) | $ | 1,058,131 |  |  | $ | 116,767 |  |  | $ | 235,606 |  |  | $ | 3,071 |  |  | $ | (72,301) |  |  | $ | 1,341,274 |
(a) For the six months ended June 30, 2023, included in Commercial and other revenues was Commercial printing and delivery revenues of $94.1 million and $3.9 million at the Domestic Gannett Media and Newsquest segments, respectively. (b) Revenues generated from international operations comprised 10.1% of total revenues for the six months ended June 30, 2023. Deferred revenues The Company records deferred revenues when cash payments are received in advance of the Company's performance obligation. The Company's primary source of deferred revenues is from circulation subscriptions paid in advance of the service provided, which represents future delivery of publications (the performance obligation) to subscription customers. The Company expects to recognize the revenue related to unsatisfied performance obligations over the next one to twelve months in accordance with the terms of the subscriptions. The Company's payment terms vary by the type and location of the customer and the products or services offered. The period between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer. The majority of our subscription customers are billed and pay on monthly terms. The following table presents the change in the deferred revenues balance:
| Six months ended June 30, |  |
In thousands | 2024 |  | 2023 |  |  |  |  |  |
Beginning balance | $ | 120,502 |  |  | $ | 153,648 |  |  |  |  |  |  |
Receipts, net of refunds | 544,626 |  |  | 546,494 |  |  |  |  |  |  |
Revenue recognized | (552,869) |  |  | (562,664) |  |  |  |  |  |  |
Ending balance | $ | 112,259 |  |  | $ | 137,478 |  |  |  |  |  |  |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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