DN Media Group, the media division of NHST Holding, reported total revenues of NOK 255.8 million in the third quarter, an increase of 3.8 per cent from the same period last year.

Subscription revenues increased by 2.1 per cent to NOK 183.2 million in the quarter, up from NOK 179.4 million a year earlier. Digital-only subscription revenues account for 66.3 per cent of total subscription revenues, up from 65.2 per cent in the same quarter last year. The growth in digital subscriptions more than offsets the decline in print-based subscription revenues.

Revenues from advertising and commercial services increased by 13.0 per cent to NOK 70.7 million. Print and digital advertising revenues were in line with the same quarter last year, while growth was driven by event and networking activities and content marketing.

Operating expenses increased by 4.5 per cent to NOK 222.9 million, primarily due to higher personnel and conference costs.

DN Media Group reported EBITDA of NOK 32.8 million, down from NOK 33.3 million in the same quarter last year. DN Media Group operates in several international markets, and currency effects reduced EBITDA by NOK 2.2 million compared with the same quarter last year.

– It is encouraging that both subscription and advertising revenues are growing, and that our quality journalism and strong brands are now delivering good growth across our portfolio. The media industry is changing rapidly, with artificial intelligence and new user habits, but for us this is first and foremost an opportunity, says James Lamont, CEO of NHST Holding and DN Media Group.