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Evening Standard reports £17m loss as Covid hits London commuting

Evening Standard reports £17m loss as Covid hits London commuting
theguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theguardian.com Daily Mail and Mail on Sunday newspapers.

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£17m loss at Standard but digital strategy 'already showing positive results'

£17m loss at Standard but digital strategy 'already showing positive results'
pressgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressgazette.co.uk Daily Mail and Mail on Sunday newspapers.

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Reinvention needed for free sheets to deliver again

Reinvention needed for free sheets to deliver again
Papers that rely on cities are exploring new revenue sources after the hit from Covid, writes Ben Woods
22 May 2021 • 5:00am
During his maiden speech at the House of Lords earlier this month, Lord Lebedev provided a pithy appraisal of his time as a newspaper proprietor.
“I will be able to teach the House how to make a small fortune,” the
Evening Standard’s majority shareholder said.
“You start with a very large fortune, and then you buy a newspaper.
“Lord Thomson of Fleet is quoted as describing television as a licence to print money. Newspaper publishing also seems to me like printing money, but then giving it away outside Tube stations.” ....

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Evening Standard CEO Charles Yardley committed to print

“I knew what I was walking into and I knew what had to be done,” Evening Standard chief executive Charles Yardley tells me when I ask if taking on the job last summer, a few months into a global health crisis, felt like being given command of a sinking ship.
The Standard has been among the titles worst hit by the coronavirus pandemic. Its business model was still heavily print-centric and reliant on commuters picking up copies at London transport hubs, which went quiet as the command to “stay at home” to save lives came down.
Advertising, on which the title relied for the majority of its revenue, also slumped as events were cancelled and struggling companies cut their cloth. The Standard was forced to furlough staff and issue pay cuts. ....

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