For 2023, The Globe and Mail is forecasting a C$30 million (€ 22 million approximately) increase in its overall revenue compared to pre-COVID days – C$30 million better than it was two years ago for print and digital.
G&M Publisher and CEO Phillip Crawley joined WAN-IFRA”s recent Asian Media Leaders eSummit to share how the company has managed this robust business.
With the highest number of print and digital readers in all of Canada, its audience is second only to the freely available Canadian Broadcasting Corporation (CBC), which receives considerable government funding.
“We believe in investing in quality journalism,” said Crawley. “We added journalists and resources to our newsroom even during the COVID-19 pandemic that wiped out whole categories of advertising revenue, some of which have not yet come back. So, while others cut back on print, we decided it was a good time to invest. It does make a difference. Readers notice. As do advertisers.”
Transitioning from print to digital
Back in 1989, when Crawley became publisher at The Globe and Mail, 70 percent of the company’s revenue came from advertising, display and classifieds – typical of the revenue mix in the industry at the time.
“We sold content far too cheaply, and we continued to make that mistake when the transition to digital happened,” he said. “We gave it for free for years.”
Cut to 2022, the company is busy writing its budget for 2023, with a projected 62 percent of revenue coming from…
Keen to read more? This content is exclusively available to our WAN-IFRA Members. If you believe your company is already a member, or you’d like to join in a personal capacity, please contact firstname.lastname@example.org If you’re a media journalist please reach out to email@example.com
The post How The Globe and Mail has managed to grow revenue, subscriptions – and print appeared first on WAN-IFRA.
- WAN-IFRA announces 2022 European Digital Media Awards winners
- AFP launches digital skills training for all journalists
- How Schibsted’s PodMe podcast platform has brought in 170,000 paying subscribers
- Content and trust important for growth: Key message from Indian Media Leaders eSummit 2022
- World News Day 2022: Join the global campaign to show journalism’s value
- WAN-IFRA announces 2022 European Digital Media Awards winners 4. júla 2022
- AFP launches digital skills training for all journalists 1. júla 2022
- How Schibsted’s PodMe podcast platform has brought in 170,000 paying subscribers 30. júna 2022
- Content and trust important for growth: Key message from Indian Media Leaders eSummit 2022 29. júna 2022
- World News Day 2022: Join the global campaign to show journalism’s value 29. júna 2022