Segundamano going online-only
After 30 years in operation, Spanish classifieds newspaper Segundamano is shutting down its print versions to go online-only.
Segundamano is owned by Schibsted Classifed Media. Segundamano operates the online real estate portal Fotocasa.es.
Schibsted, like most media companies, has reported a decline in revenues – for Q3, the company is down 19 percent which the company said is due primarily to a negative trend for its print publications in Spain.
Operating revenues from Schibsted's print publications in Spain fell by 54 percent. The closure of titles accounted for 5-10 percentage points of this reduction.
Closing down print in Spain will cost Schibsted EUR 10 million due to restructuring. All told, 217 jobs will be cut.
Why stay online? “The operating revenues of the Spanish online activities increased by 21 percent in Q3,” Schibsted reported.
According to ComScore, fotocasa.es leads the Spanish online market with over 1 million visitors per month.
