The death of the Guardian
The slow and painful death of newspapers quickened yesterday as the Guardian’s parent company as good as declared it would be killing off the print edition.
“We are going to become a digital-first organisation and are at the beginning of a process of transformation to achieve that, meaning that its content will remain free to read online,” said chief executive Andrew Miller.
The Guardian Media Group is in a terrible financial state. GMG confirmed operating losses of £33 million and announced a shift to a "digital-first" strategy for the Guardian and the Observer. ABC figures for April saw circulation of the Guardian drop 12.5 per cent year-on-year to 262,937, and the Observer fell 13.9 per cent to 293,053. But digital traffic is up, with 2.4 million unique users in April, a 31 per cent increase year-on-year. Even for us PRs, the maths is simple: the print Guardian and Observer are walking to their grave and the future is online.
Interesting Leo; charity lawyers out there debate whether the Scott Trust’s charitable objects need changing or does an ipad newspaper count as a newspaper? “To secure the financial and editorial independence of The Guardian in perpetuity: as a quality national newspaper without party affiliation; remaining faithful to liberal tradition; as a profit-seeking enterprise managed in an efficient and cost-effective manner.”
Unfortunately for The Guardian, and most newspapers, is that the maths that still isn’t simple, or clear, is whether online ad revenues can support the costs of a major news organisation.
Even without having to pay for printing presses and the like, sending people off to far-flung places to report on events, isn’t cheap.