The McClatchy company, publisher of 30 daily newspapers in the United States, has reported a drop in both advertising and circulation revenue in the third quarter of this year.

Five of the company's newspapers — including the Sacramento Bee and the Fort Worth Star-Telegram — introduced a paywall in September.

McClatchy's president and CEO, Pat Talamantes, said revenues from the paywalls "will begin to make a more significant impact in the fourth quarter." There are plans to roll out paywalls across all its papers in the coming year.

Circulation revenue fell 2% over the third quarter compared to the same period the year before. Overall, advertising revenue fell by 5.4%, but digital advertising was up 2.7%, which now accounts for nearly 23% of McClatchy's total ad take.

The McClatchy report came just after the New York Times company posted worse-than-expected results as advertisers cut spending on both print and digital platforms, down 8.9% overall, with digital falling by 2.2%.

Sources: Poynter/The Guardian/Reuters/Financial Times