Going for gold and profit, too
By Chris Sorensen - Wednesday, February 3, 2010 - 1 Comment
The Olympics haven’t been the financial windfall many hoped
Warm weather and a lack of snowfall on Vancouver’s North Shore mountains, where some Olympic events will be staged, have forced organizers to dig out their contingency plans, which include scraping, shovelling and heli-lifting snow in from higher elevations. Now, if only there was a Plan B for all the companies that stand to lose a mountain of money on the event.
Awarded near the beginning of a decade-long upswing in global markets, the 2010 Olympics will be staged at the tail end of the worst economic downturn since the Great Depression—a fact that’s not lost on the broadcasters who bid record amounts for exclusive rights to the Games.
-
As the Globe turns
By Anne Kingston - Thursday, July 9, 2009 at 3:40 PM - 12 Comments
The Globe and Mail came up with a plan for surviving the newspaper revolution. It didn’t include its editor.
Phillip Crawley is standing in his downtown Toronto office showing off the Globe and Mail of the future, which looks very much like the Globe and Mail of the present—only smaller and somewhat shinier. This is the 18-inch-wide by 21-inch-deep prototype of a new format slated for rollout in the fall of 2010. The Globe’s CEO and publisher is particularly stoked about the new capacity to run colour on coated stock where desired, reflected by the many mocked-up high-end ads, among them a full page for the jeweller Tiffany & Co., whose serene blue background portends a lucrative oasis in the parched advertising landscape. Finally, he says, the Globe will be able to offer advertisers heat-set colour with the timeliness of a daily 24-hour deadline, rather than the weeks required by magazines: “That’s a significant advantage.”So captivated was Crawley by the technology that he signed an 18-year, $1.7-billion printing deal with Transcontinental Inc. in August 2008, minutes before the economic downturn decimated advertising sales and 24-hour news cycles were replaced by Tweets. In the current print media landscape the commitment seems a high-stakes gamble by the self-anointed “Canada’s National Newspaper”—either the 21st-century equivalent of investing in state-of-the-art buggy technology at the turn of the 20th century or a shrewd counterintuitive vision of how people will still want to read news two decades hence.
The news about newspapers of late has been bleak. Earlier this month, the New York Times Co., beset by losses, hired Goldman Sachs to sell the Boston Globe, which it acquired in 1993 for US$1.1 billion. The money-losing San Francisco Chronicle, with whom Transcontinental signed a 15-year printing contract in 2006, is on the brink of being shut down or sold. Respected outlets such as the 146-year-old Seattle Post Intelligencer and 150-year-old Rocky Mountain News have shifted operations completely online. In late May, the Newspaper Association of America gathered top executives in Chicago to share ideas about how to preserve traditions of newsgathering in a digital age. Last week, the association reported that newspapers are increasingly being read online, a platform they have yet to figure out how to monetize: the number of unique visitors to U.S. newspaper websites grew 10 per cent in the first three months of 2009 compared to the same period in 2008. (Similar statistics aren’t available for Canadian newspapers but anecdotal reports suggest a similar trend.) Continue…
