Evening Standard to record £10m loss

[editor]

Just lovely news.

The Evening Standard will post a loss of £10m for the year ending in September 2017, a reversal in fortunes for London's paper that poses a big headache for its owner, Evgeny Lebedev.

The Standard's loss - £9.98m - comes after a recorded profit of £2.2m in the previous year, representing a £12m swing into the red.

The causes of the sharp financial deterioration reflect both long-term, structural changes in the newspaper industry - above all the downward pressure on print display advertising - and specific issues arising in that financial year.

Those exceptional circumstances include a London food festival which was, commercially at least, and allowing for sub-optimal weather, an expensive failure

https://www.bbc.co.uk/news/entertainment-arts-44537728

 

[not-bono-ever]

I use it to wipe my snots on during my homeward commute, then bin it in recycling at the station. it has no other function

 

[editor]

It's a filthy right wing rag.

 

[Teaboy]

It's better than The Metro, which... you know.

 

[1%er]

Osborne must think it is public money

 

[agricola]

I love how they pass over without comment the fact that George Osborne became editor at a point where it was profitable and now its making a huge loss.

 

[cupid_stunt]

Blimey, that's one hell of a year-on-year change!

 

[Santino]

The problem with being George Osborne is that eventually you run out of other people's money.

 

[beesonthewhatnow]

I love how they pass over without comment the fact that George Osborne became editor at a point where it was profitable and now its making a huge loss.

Still, at least he was never in charge of the nations... oh.

 

[Gerry1time]

It's a filthy right wing rag.

The odd thing is, in this day and age, it actually seems pretty centrist at times, at least compared to some of the balls you read online. Only at times though mind.

 

[Pickman's model]

It's a filthy right wing rag.

yeh, back in the day it was a clean right wing rag where the ink didn't come off the pages.

 

[Teaboy]

The odd thing is, in this day and age, it actually seems pretty centrist at times, at least compared to some of the balls you read online. Only at times though mind.

London is pretty centrist, generally speaking. As much as Osborne would no doubt like to go full Daily Mail, he still as an obligation to entice people to pick the thing up.

 

[Bahnhof Strasse]

What did Lebedev expect to happen when he put that bellend in charge?

 

[Pickman's model]

What did Lebedev expect to happen when he put that bellend in charge?

think how much money he might, if he were inclined, launder through the standard: i thought loss-making organisations were better for that sort of thing than profit-making ones.

 

[Poi E]

Excellent news.

At the service station recently and they were giving away some red top rag. Big pile of them there and the assistant said he did not know why they bother anymore.

 

[cupid_stunt]

Lebedev is not having a good year, he's trying to off-load his loss making London Live TV channel, which is only attracting 182,000 viewers per day.

Evening Standard owner Lebedev in talks to sell loss-making TV channel

 

[cupid_stunt]

Excellent news.

At the service station recently and they were giving away some red top rag. Big pile of them there and the assistant said he did not know why they bother anymore.

They are often giving away The Sun at my local Spar shop, I always refuse a copy, saying, "I have plenty of toilet paper at home, thanks".

 

[billbond]

Always full of Anti Brexit stuff
Shit man
shit paper

 

[not-bono-ever]

London live is a gem if you are discerning. I watch more LL than I do the light channel

 

[Pickman's model]

i can't get london live since they retuned freeview

barely watched it before anyway

 

[Poi E]

Sounds so parochial. Not befitting a global city. Sniff.

 

[Dogsauce]

Whenever I pick up a copy on the tube there always seems to be a prominent article about some celebrity or oligarch digging a masssive basement beneath their posh house in West London and the neighbours complaining. The kind of everyday stuff Londoners can relate to, obviously.

 

[Teaboy]

But without the standard how would you know which party Boris Johnson's sister went to last night? Not knowing that is the kind of shit that would keep you awake at night.

 

[kenny g]

They literally can't give it away. Still is a potentially good paper forcing its soul through Osborne's snout.

 

[Puddy_Tat]

The Evening Standard will post a loss of £10m for the year ending in September 2017

 

[planetgeli]

FUCKING GOOD!

 

[Monkeygrinder's Organ]

Surprising. I would have thought appointing an entirely unqualified editor would be bound to work.

 

[Gromit]

I’d love to see the Metro and Evening Standard vanish from the tube for purely selfish reasons (which I won’t go into).

I do wonder if TFL profit from recyclying all the ones the cleaners pickup at all the terminus stations. Or whether collecting and disposing of them all actually costs the company (and the environment).

 

[Puddy_Tat]

I do wonder if TFL profit from recyclying all the ones the cleaners pickup at all the terminus stations. Or whether collecting and disposing of them all actually costs the company (and the environment).

since they never used to have cleaners going round trains at terminus stations picking up all the discarded free papers before free papers happened (if you see what i mean) then i suspect there is a cost somewhere.

presume TFL and the train companies must get something from metro / evening rag for having distribution points at stations, but don't know whether the whole thing makes money for TFL or not.

 

[salem]

Whenever I hear about newspapers losing money I'm always a bit suspicious as to why the owners fund it. Murdoch funding the Times is another one.

It's very noticeable how much fewer people read the Standard on the tube now, even more so on the bus. Phones are much more popular, if proper internet access becomes the norm on the tube (wifi or 4g or whatever) then the Standard is fucked.

Whenever I pick up a copy on the tube there always seems to be a prominent article about some celebrity or oligarch digging a masssive basement beneath their posh house in West London and the neighbours complaining. The kind of everyday stuff Londoners can relate to, obviously.

The property section in the middle seems to grow everytime I pick up a copy. As someone who is generally happy and content with life, except being forced to live life as a perpetual teenager due to not having any chance of getting my own place it just depresses me to the point where I really can't stand to look at it. Just pages and pages of £400k studios in Dagenham Village or whatever made up place has being sim-citied up.

since they never used to have cleaners going round trains at terminus stations picking up all the discarded free papers before free papers happened (if you see what i mean) then i suspect there is a cost somewhere.

presume TFL and the train companies must get something from metro / evening rag for having distribution points at stations, but don't know whether the whole thing makes money for TFL or not.

The contract to distribute the Metro was worth £3.9m a year to tfl in 2010 so it's not insignificant. If that amount goes down with distribution then I suppose there will be a point where it's not worthwhile for tfl but I suspect it'd have to fall a chunk more.