INMA Financial Benchmarking Service

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III. Revenue mix

Research question: Where does your revenue come from?

Benchmark your business unit's revenue mix to your peers

Your parent company numberYour business unit numberRelevant benchmarking sample
2500 00115

1. High-level revenue mix

Reader, advertising and other revenues as proportion of total revenue, in %

  • Reader revenues include total revenue generated directly from readers, aggregated across all channels (print, digital, e-paper) and customer segments (individual consumers and institutional customers). Includes subscriptions, single-copy sales, and one-time reader contributions.
  • Advertising revenues include total revenue from advertising across all formats (print and digital), including direct and programmatic sales, classifieds, sponsorships, and additional advertising services (creative development, planning, consulting).
  • Other revenues include total revenue from printing and logistics services, events (both offline and online), commerce, licensing, grants and subsidies, and any other revenues.
ReaderAdvertisingOtherLeft bar: your business unit · Right bar (lighter): benchmark

Reader revenue as proportion of total revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202437,7%45,8%47,3%50,6%
Q2 202447,7%45,8%48,0%52,1%
Q3 202453,4%48,2%48,9%52,4%
Q4 202459,4%47,3%50,3%55,0%
Q1 202561,1%50,5%53,6%56,3%
Q2 202558,7%50,6%53,6%61,4%

Advertising revenue as proportion of total revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202439,3%32,7%32,6%33,2%
Q2 202429,2%33,5%32,7%33,1%
Q3 202424,9%31,7%31,9%31,1%
Q4 202425,3%31,6%29,6%26,6%
Q1 202521,8%30,0%29,4%29,3%
Q2 202525,8%29,0%27,2%22,6%

Other revenues as proportion of total revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202423,0%21,5%20,1%16,2%
Q2 202423,1%20,7%19,3%14,8%
Q3 202421,7%20,1%19,2%16,5%
Q4 202415,3%21,1%20,1%18,4%
Q1 202517,1%19,5%17,0%14,4%
Q2 202515,5%20,4%19,2%16,0%

2. Digital vs. print revenue mix

Digital and print revenues as proportion of total revenue, in %

  • Digital revenues include digital-only web or app or e-paper reader revenue from consumers (B2C) and institutional customers (B2B), digital advertising (direct sales and programmatic), licensing and commerce revenues.
  • Print revenues include print reader revenue from consumers, print advertising, and printing and logistics revenues.
DigitalPrintLeft bar: your business unit · Right bar (lighter): benchmark

Digital revenue as proportion of total revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202433,1%40,9%37,8%33,1%
Q2 202438,2%41,7%40,0%36,9%
Q3 202441,9%45,4%44,3%41,5%
Q4 202441,7%47,0%46,0%44,1%
Q1 202550,4%47,7%48,9%47,9%
Q2 202553,8%52,5%52,0%55,2%

Print revenue as proportion of total revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202466,9%59,1%62,2%66,9%
Q2 202461,8%58,3%60,0%63,1%
Q3 202458,1%54,6%55,7%58,5%
Q4 202458,3%53,0%54,0%55,9%
Q1 202549,6%52,3%51,1%52,1%
Q2 202546,2%47,5%48,0%44,8%

3. Reader revenue mix in detail

Digital web or app, e-paper, print reader revenue (B2C) and institutional revenue (B2B) as proportion of total reader revenue, in %

Digital Web/App B2CE-paper B2CPrint B2CB2BLeft bar: your business unit · Right bar (lighter): benchmark

Digital-only web or app reader revenue (B2C) as proportion of total reader revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202423,6%25,4%24,7%18,4%
Q2 202419,8%27,7%27,1%25,5%
Q3 202427,0%28,9%29,1%27,2%
Q4 202439,0%33,3%32,5%32,0%
Q1 202531,9%34,2%35,7%35,1%
Q2 202532,8%35,8%35,7%37,9%

E-paper reader revenue (B2C) as proportion of total reader revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202415,1%14,9%13,0%10,4%
Q2 202418,7%16,3%14,5%12,0%
Q3 202419,5%15,7%15,4%14,3%
Q4 202413,7%15,5%15,0%12,6%
Q1 202513,3%16,7%16,5%16,9%
Q2 202512,0%18,2%18,0%17,7%

Print reader revenue (B2C) as proportion of total reader revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202448,4%48,2%52,1%63,8%
Q2 202448,8%44,8%48,0%53,6%
Q3 202442,9%43,6%44,7%50,4%
Q4 202439,5%40,8%42,9%46,7%
Q1 202541,8%37,1%36,5%38,2%
Q2 202539,9%32,8%33,8%32,3%

Reader revenue from institutional customers (B2B) as proportion of total reader revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202412,9%11,5%10,2%7,4%
Q2 202412,7%11,2%10,4%8,9%
Q3 202410,6%11,8%10,8%8,1%
Q4 20247,8%10,4%9,6%8,7%
Q1 202513,0%12,0%11,3%9,8%
Q2 202515,3%13,2%12,5%12,1%

4. Advertising revenue mix in detail

Digital or print direct sales or programmatic ad revenue as proportion of total advertising revenue, in %

Digital DirectDigital ProgrammaticPrintLeft bar: your business unit · Right bar (lighter): benchmark

Digital advertising revenue (direct sales) as proportion of total advertising revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202431,6%32,4%31,0%31,3%
Q2 202436,6%30,5%30,6%30,4%
Q3 202439,1%32,9%32,7%33,7%
Q4 202437,1%34,1%34,7%38,1%
Q1 202534,3%37,2%37,1%40,8%
Q2 202538,0%37,3%39,4%44,8%

Digital advertising revenue (programmatic) as proportion of total advertising revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202421,0%21,1%18,7%15,2%
Q2 202412,0%22,5%20,0%14,9%
Q3 202418,4%23,4%21,9%17,5%
Q4 202428,0%24,6%23,2%20,8%
Q1 202530,5%24,6%24,5%23,4%
Q2 202526,9%25,8%25,0%22,4%

Print advertising revenue as proportion of total advertising revenue, in %

QuarterYour parent companyUpper quartileMedianBottom quartile
Q1 202447,4%46,5%50,3%53,5%
Q2 202451,4%47,0%49,4%54,7%
Q3 202442,5%43,7%45,4%48,8%
Q4 202434,9%41,3%42,1%41,1%
Q1 202535,2%38,2%38,4%35,8%
Q2 202535,1%36,9%35,6%32,8%