The end of the daily printed edition has come for Montreal-based Quebec newspaper La Presse after the company announced it will focus on its popular tablet app La Presse+.
In bold leap towards digital publishing that will save the company $30 million annually, the daily edition of La Presse will no longer be printed from January 1, 2016.
However the La Presse’s Saturday paper will continue to be printed and delivered, with the company saying the weekend paper “remains a potent, engaging ritual to which many people are profoundly attached”.
The La Presse+ tablet app was first launched in 2013 and currently has a weekly audience of 460,000 and delivers 60 per cent of the company’s revenue.
While the print revenues of many publishers are declining, most newspapers still depend heavily on print advertising, which attracts much higher rates than online ads.
The Globe and Mail reports that by contrast, La Presse has inverted that math: a half-page ad in La Presse+, at $68 per thousand impressions, now earns La Presse substantially more than the $42 paid for the same space and reach in print.
With 70 per cent of La Presse revenue now coming from digital platforms – and almost all of it from ads – Ken Doctor, a media analyst at Newsonomics, said the company had reached “a crossover point”.
“I think what [La Presse] has done is the harbinger of things to come – that it is the weekend paper in Canada, the US, Europe, that will endure far longer than daily printing,” Mr Doctor said.