Guardian shifts to digital but still set to lose £34m
THE Guardian yesterday announced it will adopt a “digital first” strategy that will see its online activity take precedence over print editions.
Editor-in-chief Alan Rusbridger said the firm will “shift focus, effort and investment towards digital, because that is our future.”
The paper said that while print remains critical, the strategy will involve changes to its newspapers over time and investment in digital initiatives such as a new US base.
Despite the swing towards digital, income from Guardian’s new media operations is expected to be just £37m, rising by around £10m in the current financial year.
The announcement comes as circulation at the Guardian and Observer continues to fall and operating losses continue to mount. Losses for the year are expected to be in line with last year’s £34.4m. Guardian News and Media (GNM) is also expected to announce its turnover has also fallen £23m to £198m.
Guardian boasts around 50m unique online users every month.
Rusbridger added: “Every newspaper is on a journey into some kind of digital future. That doesn’t mean getting out of print, but it does require a greater focus on digital.”