Agora’s ‘Gazeta Wyborcza’ newspaper copy sales grew in December, with average daily copy sales up by 19.2%, compared with the same month in the previous year, while all of the other national newspapers reported weaker copy sales, with ‘Rzeczpospolita’ broadsheet down by 16.0% y/y, ‘SuperExpress’ tabloid down 4.9% y/y, and ‘Fakt’ tabloid down by 2.1% y/y. ‘Dziennik’ copy sales were 211,610 copies, higher by 7.1% compared with the previous month.
Our view: In December, the month marked with political conflicts, ‘Gazeta’ copy sales came stronger by 11.1% compared with the previous month, slightly better than its main rival ‘Dziennik’, whose copy sales increased by 7.1%, and much better than the rest of the peers.
What becomes evident, ‘Gazeta’ is expanding its circulation at the expense of ‘Rzeczpospolita’, following recent changes the latter newspaper profile, and on the back of the latter’s too high copy price (PLN 2.7 vs. PLN 1.5), while ‘Dziennik’ copy sales have stabilized around 200.000 copies. We would expect a positive impact of the news today. We reiterate our Hold rating for the stock.