DURING A RECENT luncheon organized by the Ad Club of Toronto, Publisher John Cruickshank of the Toronto Star said: “I feel very optimistic about the long term for our news organizations…the best of times are ahead for the best of brands.
Cruickshank noted newspaper readership in Toronto has actually grown in recent years, thanks in part to free publications like Metro, which is partly owned by the Torstar Corp., which owns the Toronto Star.
Moderator Ken Whyte had asked the publishers to name the date at which they would cease printing a paper.
“I think the answer is never in our lifetime,” said Bill McDonald, publisher of Metro, comparing it to banks. They added automated machines, and now have expanded to online and mobile banking, yet tellers are still needed.
“It’s akin to us going from print to web to mobile. We’re all going to do it, but it doesn’t mean we’re going to close our branches and fire our tellers.”
Hmmm…makes me wonder if our Canadian brethren have managed to build a better business model over the years than those in (see previous post) Seattle. Denver. Philadelphia. Minneapolis. The New York Times.