Earnings release
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GANNETT Launched Digital Subscription Model at USA TODAY Achieved Record Digital - Only Subscriber Growth of 41 % to Approximately 1.4 million Paid Subscribers Digital Revenues Rose 33 % and Digital Marketing Solutions Revenue Rose 21.5 % Over Prior Year Same Store MCLEAN , VA - August 6 , 2021 - Gannett Co. , Inc. ( " Gannett " , " we " , " us " , " our " , or the " Company " ) ( NYSE : GCI ) today reported its financial results for the second quarter ended June 30 , 2021 . " The solid results of the second quarter of 2021 underscore the strength of our strategy and the execution of our team . Digital only subscriber growth continued to set new records in the second quarter of 2021 , ending the quarter at approximately 1.4 million , up 41 % compared to a year ago . Our Digital Marketing Solutions segment posted significant year - over - year growth and continued to grow platform client count sequentially each quarter , " said Michael Reed , Gannett Chairman and Chief Executive Officer . " The Company once again grew Adjusted EBITDA year - over - year , now for the third quarter in a row . With digital revenues making up approximately one - third of our total revenue and growing , we believe we are well positioned for the second half of the year and beyond . " Second Quarter 2021 Financial Highlights : ● . Gannett Announces Second Quarter 2021 Results Total revenues of $ 804.3 million rose 4.9 % compared to the prior year quarter Same store revenues ( as defined and reconciled on Table No. 5 below ) increased 6.8 % compared to the second quarter of 2020 Total digital revenues were $ 259.3 million or 32.2 % of total revenues Net income attributable to Gannett of $ 15.1 million O Adjusted net income attributable to Gannett of $ 30.1 million Adjusted EBITDA totaled $ 115.8 million , an increase of $ 37.8 million or 48.4 % compared to the second quarter of 2020 and represented a 14.4 % margin Net cash flow provided by operating activities of $ 31.3 million Free cash flow of $ 23.1 million Additional Business Highlights : Signed strategic sports betting agreement with Tipico US Technology , Inc. ( " Tipico " ) Tipico to become the exclusive sports betting and iGaming provider for Gannett , with integration of odds , props , free to play games and betting trends across the USA TODAY NETWORK The five - year agreement includes $ 90.0 million in media spend by Tipico , together with performance incentives payable to Gannett for customer referrals . Subject to certain conditions being met over the five year term of the agreement , Gannett will have the right to acquire up to 4,990 common shares in Tipico's U.S. business , representing a minority share O O