"Over the last years, the Vancouver Sun and The Province have seen alarming and unprecedented revenue declines... the business is unsustainable... we must take immediate steps to stop the bleeding."
"I would be less than honest if I failed to point out that, as an example, our productions costs are dramatically higher than those of our peers. As one small but enlightening example, we are not in the insert business because it is impossible to profitably compete due to our costs."
Postmedia, owners of the BC papers and slew of others, is bleeding $1 million per week. Advertising has fallen another 14% in the past year. Meanwhile the nation’s largest newspaper, the Star, has just announced its own ‘please-quit’ program for employees and is actually farming out production of its pages. The Globe, as you know, erected a paywall around its web site, as it also jettisoned staff.
CTV has recently laid off on-air people, camera operators and radio hosts. The CBC’s been punting 650 employees for the past year. And Rogers, with a massive cable monopoly, shocked workers months ago with hundreds of layoffs.
The point is that revenue models no longer work for traditional media organizations because they’re based on eyeballs. As readership and viewership wither, so do the ad dollars. Gone are the days when everybody in town had the same morning paper tossed on their doorstep, or tuned in to the same supperhour newscast.Part of the reason is the proliferation of new vehicles... Another reason: print and TV newsrooms are whoring themselves. As media turns from useful, original content to the delivery of advertising messages, it gets irrelevant and annoying. If a paper wants to succeed, the last person shown the door should be a reporter. These days they lead the exodus.
Instead of real estate, maybe one of the Vancouver Sun's last photo gallery's will contain these types of photos.
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