Date

Sun - 19.11.2017


Financials

Canada's National Post offered voluntary buyouts to its entire staff as part of its Postmedia Network Inc. restructuring plan. The employees have until Friday to accept the proposal, which includes three weeks of pay for each year on the job up to a maximum of C$125,000, The Globe and Mail informed yesterday.

"It's a decision at the local level, so National Post management developed a voluntary buyout program for their operation," Postmedia's director of communications Phyllise Gelfand said to Reuters.

Postmedia bought Canwest's newspaper division in July after the media group filed for bankruptcy. However, two weeks ago, the publisher announced a reduction of the staff in all its titles as a way to cut costs. So far, 50 workers have been laid off.

Author

Clara Mart

Date

2010-09-15 19:24

Andreas Wiele, director of the Bild Group, encouraged publishers not to be afraid of cannibalising their print products by creating a strong digital presence, and not to be afraid of charging for it. If you don't grab your readers online, he warned, someone else will. Wiele was speaking at the WAN-IFRA 9th International Newsroom Summit.

Bild, Germany's leading tabloid and Europe's biggest selling newspaper, has not seen any declines in readership in the last five years despite a thriving web presence. In fact, Wiele said, there is only a 7% overlap between the print and online audience. He explained that all stories are put online after the editorial close each night, except for very rare exclusives which are saved for the paper, "so there is really no reason to pick up the newspaper, but 3 million people still buy it every day."

For more on this story, visit our sister publication, editorsweblog.org.

Author

Leah McBride Mensching

Date

2010-09-09 15:29

New Jersey's largest newspaper, The Star-Ledger, will cut salaries and offer voluntary buyouts to employees in a move aimed to reduce costs, The Associated Press reported yesterday.

The Newark daily, which is owned by Advance Publications, is expected to lose US$10 million this year as advertising revenues continue to decrease, publisher Richard Vezza said in memo sent to the staff (reproduced by Poynter Online). In 2009, the company's losses reached $9 million.

This the third round of buyouts since 2008, when Advance Publications threatened "to close or sell the Star-Ledger if it didn't get at least 200 buyouts from the paper's then-756 non-union full-time workers," Editor & Publisher explained. So far 300 employees have left.

The buyout plan is available for non-union employees hired before January 1, 2006, and it includes one year of salary and medical benefits. The company will also restructure salaries "based on job duties and what newspapers of a similar size and situation are paying for those jobs," Vezza wrote.

Author

Clara Mart

Date

2010-09-08 16:10

It isn't enough for newspapers to simply "be online," New York University Journalism Professor Jay Rosen told Le Monde. They must also put in place a payment plan, cater to the iPad or decide on a strategy that is "more radical," because Web-based ad revenues will not make up for declining print incomes.

The economic downturn was blamed for the drop in print ads, but publishers failed to recognise that advertisers would not be coming back, he said. A suitable economic model for dailies functioning alongside the Internet and tablets will have to include numerous revenue sources, each one delivering features on a smaller scale. For example, Rosen said that dailies could have one free and one payable application, have a part of the site that's free, or have specific information as paid-for features, but leave articles that contribute to the reputation of the title for free. Furthermore, the outlets could sell related products and services.

The difficulty might also be in sustaining the structure of the venture, taking into consideration that it was initially constructed to accommodate a different economic model. Rosen added that it might be simpler for titles that only recently emerged onto the market.

Author

Alisa Zykova

Date

2010-09-08 15:55

Chairman and publisher of The New York Times, Arthur Sulzberger Jr, stressed the need to take risks and not be afraid of failure in the quest to find a business model that can adequately support high quality journalism. He was speaking at the WAN-IFRA 9th International Newsroom Summit in London.

The New York Times is due to introduce a 'metered' paywall in early 2011. Readers will be allowed to access a certain number of articles free each month, then will be asked to pay. "This has the benefit of allowing our millions of readers who come to us through search engine to still find our content," Sulzberger specified, while those who use the site heavily will be charged.

For more on this story, visit our sister publication, editorsweblog.org.

Author

Leah McBride Mensching

Date

2010-09-08 15:06

Emphas.is is a new platform for photojournalism that hopes to find a business model to sustain the profession, by creating "a unique bond between photojournalists and their audience." Due to launch in early 2011, its website went live at the end of August.

It would work via crowd funding, "with a difference," the website says. The incentive to contribute would be "exclusive access to top photojournalists." This will work, says the site, because there are many photojournalism enthusiasts out there who would be interested in providing support, many amateur photographers who would be eager for contact with professionals, as well as many people who care about the different issues that photojournalists can address.

For more on this story, visit our sister publication, editorsweblog.org.

Author

Leah McBride Mensching

Date

2010-09-07 15:29

It is still unclear whether News International's paywall for The Times' and Sunday Times' is "working," as the paywall is just two months old, and the websites have not yet made statistics public.

In the Independent today, the tagline for Ian Burrell's article on Rupert Murdoch's much discussed paywall states: "advertisers don't like it. Analysts are unconvinced. The paywall at News International may not be winning many fans, but the man behind it is determined to keep it standing." But François Nel, director of the Journalism Leaders Programme at the University of Central Lancashire's School of Journalism, Media and Communication in the United Kingdom, and also an SFN research partner, crunched the numbers, and the result is that the paywalls may be doing better than most people think. A lot better.

When The Times was still subscribing to ABCe audits, data showed that in May 2009 monthly unique users were at 20,406,420.
So, as Nel elaborates with his "back-of-the-envelope calculations":

"Say they were making £0.20p £0.10p per user per month, mostly from advertising.

That would be 20,406,420 X 0.10p = £2,040,642 per month.

So, say they lost 90 per cent of their users and, say, 50 per cent of their advertisers got cold feet, too:

Author

Leah McBride Mensching

Date

2010-09-02 23:53

Independent News and Media's newspapers have returned to pre-tax profits after selling loss-making titles, The Irish Times reported today. Revenues for the first half of the year reached €656.5 million, up 7.8 percent, as operating profit increased 29.2 percent, to €94.6 million. Earnings before taxes, amortisation and depreciation were up 26.1 percent, to €115.6 million.

The Ireland-based INM sold its UK Independent and Independent on Sunday titles in April, and also sold its remaining share in India-based Jagran Prakashan Limited media group, lowering its net debt by €360.1 million in the period from June 2009 to June 2010. INM reported pre-tax losses of €31 million for the year of 2009, according to MediaGuardian.

Pre-tax profits were at €53.3 million, up more than 39 percent compared to a year prior, RTE.ie reported. Advertising is picking up gradually, and the group expects healthy profit growths for the full year, INM COO Vincent Crowley told RTE.

Author

Leah McBride Mensching

Date

2010-08-27 16:55

British newsagents are selling 14 percent less newspapers than they were a decade ago and sales revenues are expected to continue decreasing by 44 percent in the next five years, according to research by Mintel, paidContent reported yesterday.

But despite this decline, newsagents' income has increased since 1999 by 10 percent, to £26.8 billion. The reason is a sales boost of other goods such as magazines, cards and cigarettes, the Press Gazette informed.

Graph: paidContent

The biggest growth was experienced in the magazine and comic sector, where spending went up by 38 percent. Overall, spending on newspaper declined from £3.4 billion to £2.9 billion.

"This sector appears to be in long-term decline, reflecting changes in consumer lifestyles and major changes in how information is acquired and consumed," Mintel's report stated, according to paidContent.

Author

Clara Mart

Date

2010-08-27 16:43

The declines in newspaper spending are expected to stabilise in 2013, and the industry is slated for growth in 2014, according to forecasts by Veronis Suhler Stevenson Communications Industry, a private equity firm specialising in media business and marketing services for the year 2004-2014, Editor & Publisher reported.

As print circulations decline, retail, national and classified advertisers will continue to invest interests in harnessing the potential reach of digital media platforms "to target audiences and improve return on investment." The report further stated that "weekly newspapers are no longer insulated from the migration of users and advertisers to the Web," and total industry spending is expected to fall by 9.5 percent this year, including decline in dailies by 10.6 percent, weeklies by 7.1 percent and digital platforms by 1.1 percent.

However, a rebound in national, regional and classified advertising this year will "nudge the newspaper advertising market towards recovery," according to E&P's report. To maximise operational efficiencies, the trend followed in the industry such as outsourcing printing, distribution, copy editing and design jobs will continue to accelerate, while the massive cost-cutting trends are forecast to dissipate.

The report also notes that newspapers are expected to offer more e-reader apps to attract readers and advertisers who have abandoned print advertising.

Author

Savita Sauvin

Date

2010-08-24 18:55

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