Lee Enterprises, Incorporated (NASDAQ:LEE) Q4 2024 Earnings Conference Call December 12, 2024 10:00 AM ET
Company Participants
Jared Marks - Vice President, Finance
Kevin Mowbray - President and Chief Executive Officer
Timothy Millage - Vice President, Chief Financial Officer and Treasurer
Les Ottolenghi - Chief Transformation and Commercial Officer
Conference Call Participants
Daniel Harriman - Sidoti & Company
Operator
Welcome to the Lee Enterprises' 2024 Fourth Quarter Webcast and Conference Call. This call is being recorded and will be available for replay at investors.lee.net. At the close of the planned remarks, there will an opportunity for questions. [Operator Instructions] A link to the live webcast can be found at investors.lee.net.
Now I will turn the call over to your host, Jared Marks, Vice President, Finance.
Jared Marks
Good morning, and thank you for joining us. In addition to myself, speaking on this morning's call are Kevin Mowbray, President and Chief Executive Officer; Tim Millage, Vice President, Chief Financial Officer and Treasurer; and Les Ottolenghi, Chief Transformation and Commercial Officer. Nathan Bekke, Senior Vice President, Operations and Audience Strategy is also available to answer questions.
Earlier today, we issued a news release with preliminary results for our fourth fiscal quarter of 2024. It is available at lee.net as well as major financial websites. Please also refer to our earnings presentations found at investors.lee.net, which includes supplemental information.
As a reminder, this morning's discussion will include forward-looking statements based on our current expectations. These statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially.
Such factors are described in this morning's news release and in our SEC filings. During the call, we refer to certain non-GAAP financial measures. Reconciliations to the relevant GAAP measures are included in the tables accompanying the release.
And now to open the discussion is our President and Chief Executive Officer, Kevin Mowbray.
Kevin Mowbray
Thank you, Jared. Good morning, everyone, and thank you for joining our call this morning. In 2024, we continued to lay strong foundation for Lee's future as a digital-first company. In our last call, we shared an important milestone, achieving the revenue inflection point where our Digital Revenue surpassed our Print Revenue.
We've made further progress on our Digital Revenue mix in the fourth quarter, reaching 51% of total revenue, representing a seven-point improvement over the prior year quarter. Our Digital Subscription business had an extremely strong year growing the revenue of 41% on a same-store basis. These results prove, once again, we're the fastest-growing Digital Subscription Revenue platform in local media.