Backing Brexit may deliver misery for Daily Mail
Listed publisher DM> does more than publish the 'Daily Mail'. Its businesses span newspapers, financial data providers, conferences and insurance risk management.
Yesterday it issued what was in effect a profit warning, forecasting a "mid-single digit" decline in media revenues in 2018. The numbers suggest a slowdown in ad sales for the Mailonline in addition to the ongoing decline in UK print advertising. Some of those trends are happening everywhere, but there's little doubt that the dramatic slowdown now forecast for the wider UK economy as a result of Brexit is a factor.
The 'Daily Mail' was among the most staunch media backers of the Leave campaign. Ironically, its more clued-in parent did warn last year that the UK vote to leave the EU represented a risk to the business that could "accelerate the decline in print advertising revenue" in Britain.