Digital subscription results of AS Ekspress Grupp in the third quarter of 2024

    Digital subscription results of AS Ekspress Grupp in the third quarter of 2024

The number of digital subscriptions of AS Ekspress Grupp increased by 24% in the Baltic States year-over-year (3^rd quarter: 0%, 9 months: 7%) and totalled 222 611 at the end of September.

• The number of digital subscriptions of AS Delfi Meedia that publishes the news portal Delfi, newspapers Eesti Päevaleht, Maaleht, Eesti Ekspress and several popular magazines increased by 14% year-over-year (3^rd quarter: 5%, 9 months: 9%) and totalled 112 520.
• The number of digital subscriptions of AS Õhtuleht Kirjastus, 50% of which is owned by Ekspress Grupp, increased by 3% year-over-year (3^rd quarter: -4%, 9 months: 5%) and totalled 26 127.
• The number of digital subscriptions of Geenius Meedia OÜ increased by 17% year-over-year (3^rd quarter: 1%, 9 months: 8%) and totalled 7534.
• In Latvia, the number of digital subscriptions of Delfi A/S increased by 32% year-over-year (3^rd quarter: -3%, 9 months: 0%) and totalled 26 552.
• In Lithuania, the number of digital subscriptions of Delfi increased by 34% (3^rd quarter: -10%, 9 months: -3%) and totalled 38 608.
• The Lithuanian media portal Lrytas launched sales of paid content in the 4^th quarter of 2023, the number of digital subscriptions increased by 9% in the 3^rd quarter and 77% in 9 months of the year, totalling 11 270 at the end of September.

The Chairman of the Management Board of Ekspress Grupp, Mari-Liis Rüütsalu, comments:

“The number of digital subscriptions of Ekspress Grupp continued to grow strongly: the number of digital subscriptions of the Group's media publications increased by 24% in the Baltic States year-over-year: all markets and publications demonstrated growth. Latvia and Lithuania continued to grow the fastest, with the number of digital subscriptions increasing by 32% and 34%, respectively. The Estonian subsidiary Delfi Meedia that has the highest number of subscribers increased its subscriber base by 14% and had more than 112 500 digital subscribers at the end of September.

In the third quarter, the number of digital subscriptions of Delfi Lithuania decreased by 4200 quarter-over-quarter. This decrease is as expected and was related to the termination of a few major cooperation projects. Going forward, Delfi Lithuania will focus more on direct sales which are more profitable for a media company and provide a better opportunity to communicate directly with subscribers.”

Detailed overview of digital subscriptions

	30.09.2024	30.06.2024	change	31.12.2023	change	30.09.2023	change
AS Delfi Meedia	112 520	107 443	5%	102 793	9%	98 982	14%
AS Õhtuleht Kirjastus	26 127	27 104	-4%	24 875	5%	25 406	3%
Geenius Meedia OÜ	7 534	7 439	1%	6 998	8%	6 466	17%
Delfi AS (Latvia)	26 552	27 417	-3%	26 427	0%	20 169	32%
Delfi UAB (Lithuania)	38 608	42 834	-10%	39 872	-3%	28 730	34%
Lrytas UAB (Lithuania)	11 270	10 321	9%	6 363	77%	-	-
Total Ekspress Grupp	222 611	222 558	0%	207 328	7%	179 753	24%

The Group considers only the subscriptions with the value of more than 1 euro per calendar month that are separately invoiced and separately cancellable at any given time as digital subscriptions.

Digital subscription revenue makes up an increasingly larger share of the digital revenue base of Ekspress Grupp. We are moving in the direction of the Group's long-term goals of increasing the volume of digital subscriptions to 340 000 subscribers in the Baltic countries by the end of 2026. The long-term goals of Ekspress Grupp were established and disclosed at the beginning of 2022.

Argo Rannamets
CFO
AS Ekspress Grupp
E-mail address: [e-mail]

AS Ekspress Grupp is the leading Baltic media group whose key activities include web media content production, and publishing of newspapers, magazines and books. The Group also operates an electronic ticket sales platform and ticket sales offices in Estonia and Latvia. Ekspress Grupp launched its operations in 1989 and employs almost 1100 people.