As sun sets on New Day, online-only Independent offers some more positive media news – a doubled digital operation size
It's not all bad news for the media today.
Trinity Mirror confirmed the closure of its New Day newspaper after just over two months this morning. The publisher also revealed its group revenue fell by 9.3 per cent in a "volatile" market for print advertising.
But the Independent, which closed its print edition earlier this year and now operates online only, announced some more positive developments today.
Read more: Sun sets on New Day as Trinity Mirror share price hits three-year low
Significant expansion
Owner ESI Media said the Independent's digital business has doubled in size. And its "significant expansion" is not over.
It now has around 90 editorial staff, with 40 journalists moving across from the closed newspapers, and a slightly bigger non-editorial headcount, some of whom work on other ESI Media products also.
The Independent has also announced plans to open new bureaux in Asia and the Middle East, and wants to add to its operations in Europe and the US.
ESI Media's digital managing director Zach Leonard told City A.M.: "We're developing a staff and size and scale in the US… not to the scale that we see the Mail Online and Guardian have made – yet. But our ambitions are there to do as well as we can, placing correspondents in other countries."
Independent editor Christian Broughton said: "This phase of our significant expansion is not over yet, and as we continue to build the team, our intelligent, internationalist and innovative take on news will only get stronger for readers in the UK and around the world."
Read more: As Independent paper closes, owner talks up profitable future
Profitable website, revenue growing
In March, the Independent's website attracted an average of more than three million unique users per day, according to ABC. Its print publication, meanwhile, had a total circulation of around 55,000.
ESI Media said the website, unlike the now-closed newspaper, is profitable and aims to grow its revenue by 50 per cent this year.
Leonard told City PM the Independent's daily app edition has more than double the number of subscribers the newspaper had – just over 6,000 out of a total circulation of 55,000 when it closed, according to ABC.
This represents a "minority" of the Independent's revenue, with the majority coming from advertising.
Read more: Guardian reveals cost-cutting plans
Paywall plans?
Other news websites coming from traditional broadsheet newspapers – including the Times, Telegraph and Financial Times in the UK and New York Times and Wall Street Journal in the US – have opted to also make money from charging for access to all or part of their websites. The Guardian has also recently indicated it may start charging for content in the future.
And Leonard did not rule out the possibility of the Independent following suit. It already charges for its daily app edition.
He said: "There's a really interesting point in our industry now where it's critical that we maintain not only our standards of quality of journalism but, in our case, a commitment to free access to that journalism…
"But I don't think it's a binary decision that one has to be paid-for or free, and the New York Times and Wall Street Journal [which have partial paywalls] are excellent examples."
Asked if the Independent could step in this direction, Leonard said: "We'll keep an eye on it. We don't have an active plan in that direction."