Well the hardreading staff was clicking through the Boston Herald’s E-Edition at our usual brisk pace when what should we come across but this.
Wait, what? The stately local broadsheet has taken to the feisty local tabloid to goose its circulation?
The Globe’s virtual slumming comes at an interesting crisscross(road) for the paper, as illustrated by this graph from the Boston Business Journal.
As the BBJ’s crack managing editor Don Seiffert wrote last winter, it’s always smart to follow the money.
The Globe’s digital circulation has been the envy of regional daily newspapers nationwide in the past couple of years. It was one of the first papers in the nation to have more online subscribers than print ones last year.
The Globe has also raised its print prices to as much as $1,300 a year for some weekday subscribers, which may have accelerated the switch from print to digital. Some have even speculated that forcing readers to switch to online-only, thereby saving the business money, may be an intentional strategy.
Here’s a question, though: How does it make sense to trade a (potentially) $1300 a year print subscriber for a $360 a year digital subscriber? Not to mention, those departing print subscribers mean reduced print ad revenue as well.
Asking for a friend.
Meanwhile, the redoubtable Dan Kennedy at Media Nation provided this update on the Globe’s Fall 2020 circulation numbers, which included roughly 220,000 digital-only subscribers.
Paid print Friday circulation was down to 81,579 as of early September, lower than the 12-month average by about 1,500. A similar slide was reported in the publisher’s statement that appeared on Sunday: print circulation was 139,307 as of Sept. 6, down nearly 10,000 from the 12-month average.
But, Kennedy also notes, “Like many papers, the Globe has been signing up new subscribers at a steep discount. The challenge will be holding onto them once they are asked to re-up at the full rate of $30 a month.”
Which, as best we can tell, is the highest digital subscription rate – by far – of any major metro newspaper in the country.
That’s a whole nother challenge.
Meanwhile, the thirsty local tabloid is downright parched these days, as the BBJ’s Don Seiffert noted several months ago.
The Herald, owned by Denver-based MediaNews Group since March 2018, said in a filing with the Alliance for Audited Media that its total weekday print circulation over the six months from April to September [of 2020] averaged 24,540 per day. That’s down from 34,219 in the same six month span in 2019 — a 28% drop in a single year.
Even more knee-buckling: “Over the six months from April to September [of 2020], single-copy sales of the Herald averaged 12,619 per day, according to the filing. Last year, the average from April to September was 21,331 — a 41% drop.”
Even more knee-buckling: The Herald’s digital subscriptions at the same time were somewhere south of 10,000.
So any advertising revenue is welcome at the scrawny local tabloid – even from the hately local broadsheet.