WAN-IFRA

Shaping the Future of the Newspaper

Date

Wed - 26.11.2014


finance

The Poynter Institute – the Florida-based journalism institution “dedicated to teaching and inspiring journalists and media leaders” – is suffering from a lack of cash, the Tampa Tribune reported on Saturday.

Poynter’s finances have been hit by a double whammy, the article suggests. Up until now, the Institute has been partially funded by dividends from the Tampa Bay Times, a for-profit paper that it owns. Now, however, due to sinking revenues in the news industry, Poynter says this model of funding is “no longer viable by itself.”

Secondly, the Tampa Tribune writes that, due to the same financial problems, Poynter has been making less money from its training programs. “Fewer news organizations can afford to send staff to Poynter for classes — eroding the tuition base,” states the article.

To counter these losses, Poynter is looking to massively boost the amount money that it receives from philanthropy. The Institute posted an advert last April for a new President of the Poynter Foundation, an entity created by the Poynter Institite in March to “identify and develop new resources.” The future president is expected to “create, design and implement a comprehensive development plan that will increase, diversify and sustain philanthropic giving.”

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-06-04 14:35

US newspaper companies aren’t off to a great start this fiscal year, with both Lee Enterprises and Gannett Co. reporting large quarterly losses.

Lee revealed that the company lost $26.6 million for the second fiscal quarter ending March 25, or the equivalent of 54 cents lost per share, The Washington Post reported. Last year at this time, Lee reported a loss of $1.3 million, or 3 cents per share.

The vast losses can be contributed to refinancing and reorganization costs, according to a press release. Taking those costs out of the equation, the adjusted loss was 3 cents per share, the press release said.

Operating revenue decreased by 3.6% to $172.3 million, the press release said. While combined print and digital advertising revenue fell 5.3%, digital ad revenue rose by 9.9%.

Author

Gianna Walton's picture

Gianna Walton

Date

2012-04-18 12:24

Ad revenue falling, print circulation down, newsroom cuts, no new business model in sight… It’s not uncommon to read reports about the dire situation that the US newspaper industry finds itself in. But are things really as bad as all that? As the Pew Research Center’s Project for Excellence in Journalism publishes its annual report today on the state of American media, we have a chance to step back and look in greater details at how the US newspapers handled their search for a new business digital business model over the course of the last year.

There’s no denying that the figures make grim reading, particularly when it comes to newspapers’ advertising revenue. Pew references Newspaper Association of America statistics, which estimate that online ad spend at papers grew by $207 million, but print ad spend fell by $2.1 billion, meaning that for print losses at US papers were ten times greater than digital gains.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-03-19 15:11

The BBC was criticised by a committee of MPs yesterday for being “unambitious” in its plans to boost revenue as it makes cuts to its budget.

The Guardian reported that the public accounts committee had questioned the BBC’s plans to generate just an extra £40 million per year from BBC Worldwide, the commercial arm of the broadcaster.

"If the target remains unchanged, the Trust should provide us with a clear explanation of why £40m is the tipping point, beyond which further rises would distort the market or be over ambitious," says the report.

The report also stated, "The BBC's plans for increasing commercial income, from £280m to £320m a year by 2016-17, are unambitious in the context of the financial pressures it faces."

Committee member Richard Bacon implied that the BBC relied too much on outside forces to ensure that it was operating as efficiently as possible. “It took the pressure of a licence fee settlement to force the BBC into setting a target of 3% annual savings, which it is comfortably on track to achieve. The BBC's assumptions about what it could deliver were unambitious," he said.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-03-07 18:51

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