Canada used to have two national dailies and a long list of regional and local newspapers. But in recent years, the Globe and Mail has emerged as the only substantial daily in Canada, with the National Post seeing a tremendous decline in subscriptions over the past few years. Times have changed around the world and the newspapers in Canada are not immune to the digital revolution. But Globe and Mail CEO Phillip Crawley has found that collecting data is what will help his newspaper grow and he has shown an ability to turn data into revenue.
Canada Has Been A Hub For Data Research
According to The Guardian, Canadian businesses and media industry types have been using data to in the media field for years. Local papers like the Vancouver Sun and Toronto Star have been turning data into popular journalistic stories for years, so the notion that Canadian newspapers understand how to use data has some deep roots. The Globe and Mail is taking that penchant for data one step further and using it to develop paywalls that really pay.
Financial News Is Huge
Crawley states that seven out of 10 of his online subscribers come from reading financial stories. The Globe and Mail offers its online content for free to its print subscribers who get the paper all week long, but there are paywalls in place to allow people to subscribe only to the digital version if they so choose. After seeing the success that financial articles were having, Crawley took action and sought to bring in even more revenue from online subscriptions.
The Globe and Mail’s readership tend to be the more upper-class business professionals of Canada, so the preference for financial articles did not come as a huge surprise to Crawley. But the data they collected gave him the justification he needed to add 34 people to the editorial staff of the business section of the Globe and Mail. By putting out more financial articles that deal with business and public finance, Crawley expects to see an increase in online subscriptions.
Adjusting To The Global Market
While Crawley does not suspect that American media outlets pay much attention to the Globe and Mail, he does know that the Americans are trying to muscle in on his territory. The Bloomberg Group and the Wall Street Journal are both expanding their offerings for Canadian readers in a media market that is becoming much more global. Crawley is confident that he can keep using the data the Globe and Mail is gathering to keep the paper relevant to Canadian readers.
Analytics is a big deal to any website, but it is especially important when trying to put together an accurate profile of paying subscribers. The Globe and Mail is Canada’s top daily newspaper that is trying to develop new revenue streams as its print circulation drops, while also fending off challenges from American media outlets that are using digital media on a global scale. Despite all of the challenges, the Globe and Mail is confident that its ability to utilize the data it collects will help it to stay competitive for years to come.