If every penny counts in local journalism, is it time to dig a little deeper?

What can you buy for 10p these days? Very little but one newspaper editor is hoping a 10p rise in their cover price will buy them a future in journalism.

The editor of The Guernsey Press has made an impassioned plea to readers to accept a 10p price increase in the hope of maintaining the quality of his newspaper.

Shane Green, editor of the daily title said in an online article: “Producing a daily newspaper six days a week, running a website, and employing trained, knowledgeable, locally-based editorial, commercial and IT staff is a very expensive business.

“All newspapers face similar problems, although our Bailiwick is unique in many ways. Advertising revenues have been falling and the effects on local retailers of internet shopping have been particularly serious.

“Over a period of time, some local businesses that used to support the Guernsey Press have disappeared altogether. Competition for advertising revenues from social media is also having an effect.”

Green continued: “As the community’s newspaper for more than 200 years, the Guernsey Press has been working hard to respond to these latest challenges and to improve efficiencies.

“We have had to take the very difficult decision to operate with fewer people and, by using technology advancements and working smarter, we have managed to avoid damaging the quality of the newspaper in the process.

“Our choice now is either to make further cuts, which will harm the Guernsey Press product, or to increase its cover price. We have chosen the latter route because we believe it will be preferable to readers rather than making damaging cuts.”

So how much of a lifeline does an additional 10p on the cover price offer a title like The Guernsey Press?

Well with an average daily circulation of 12,580 copies (before cost of sale is taken into account) a 10p rise adds £1,258 in revenue to the business every day of publication. This is no mean feat for a small business (and what local news title isn’t a small business these days?) – but compared to revenues lost from advertising – it’s probably a drop in the ocean.

The fact is, every penny counts in local journalism, and financial conditions aren’t going to get any easier any time soon. If you love local journalism, a 10p price rise is a small price to pay but if we are to secure the future of the industry – I think we might have to dig a little deeper.