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Faltering Mirror Bingo Wipes Out 33% Digital Division Profits

Faltering Mirror Bingo Wipes Out 33% Digital Division Profits

Written by: Richard Sharp on 17/11/2011 08:30
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Mirror Group, owners of the popular newspaper and online bingo site, have reported losses from their gambling venture. This has effectively wiped out gains in advertising revenue recorded over the third quarter of 2011.

 

The report showed a 33% increase in revenue for the Nationals Digital Division which includes The Mirror, Daily Record and Sunday Mail. However a major decline in Mirror Online Bingo revenue wiped this profit out so the overall digital division only grew 1% in Q3.

The 33% hike in ad revenue correlates exactly with a 33% rise in digital traffic, a statistic which ever rarely the same. This is a stark contrast to other newspapers such as the Sun where the majority of their digital profits come from online bingo.

The Mirror Bingo enjoyed an initial burst of interest when it first launched, growing steadily in 2009. This steady growth disappeared in 2010 and a sharp decline followed which has forced the group to rethink their ventures going forward.

Before the report came out, CEO Sly Bailey confirmed major changes in his August statement. He said, “Expect significant developments to the Mirror.co.uk and MirrorFootball.co.uk sites in the fourth quarter.”

The general consensus is that many news outlets will monazite other digital news sources such as football and sport news. The Sun newspaper has already enjoyed similar successes and Trinity Mirror will be hoping to do the same.

The Mirror bingo site has recently been changed, many feel for the worse, by merging the site with others on the same platform. It seems that the site has succumbed to increasing competition and it’s owners are resigned to the fact, whether they will act on it remains to be seen. 

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