You are holding in your hands the first weekend edition of The Daily News. In the accompanying editorial, editor Michael A. Smith shares with you the urgency of our actions. He also invites you into the process to help us understand how you would like to see The Daily News evolve.
This weekend’s edition is a work in progress, and we appreciate your support as we adapt to the new reality around us.
We publish this newspaper, in both print and digitally, for you and the community. In these historically important times, please join in as all of us — you, your neighbors and employees of The Daily News — navigate to the other side of this chapter in history. The most important thing is we all arrive safely together.
A quick perspective on how advertising revenues — the primary underwriter of this newspaper that accounts for 70 percent of our income — play a role in our future.
This disruption is putting nearly every business you know and love in jeopardy — and due in no part to poor management. Rather, most have closed their doors or dramatically reduced their services in hopes of making it to the other side.
The Small Business Administration recommends small businesses invest between 7 percent and 12 percent of their budget in advertising. For the sake of this discussion, let’s pick 10 percent. That pot must then be split into dozens of different areas — maybe newspaper ads, websites, social media or maybe a billboard.
Say your favorite business goes from $100,000 a month in sales to $30,000. Now that business’ advertising spend goes from $10,000 a month to $3,000 a month. Revenue to every outlet it is using to help drive business through advertising is reduced accordingly. This formula is even more stark for a business deemed “not essential” and ordered closed.
The Daily News’ journalism and staff are directly underwritten by the advertising we are able to generate, both in print and digital. And that, in the spirit of transparency, is what is driving our urgency to reposition our business model. We need to make it to the other side, so we will be there to serve our local businesses and community when the doors reopen. I hope you’ll continue along this journey with us.
What can you do during this critical window for our local businesses, including The Daily News? Support them with your patronage. Swing by your favorite restaurant and grab dinner to go. As for The Daily News, please continue to subscribe (or invite a friend to do so). Subscriber dollars are incredibly important to keep journalists and dozens of other Galveston County residents employed. Subscriptions are important to us and help offset the decline in the much larger percentage of revenue normally generated from local newspaper advertising.
Know we are here to provide you with trustworthy and credible information about the most important things going on in our community. Be proud when you cite an article in The Daily News — it’s a much different level of quality from saying you simply read it on the internet. Behind these stories are highly organized and vetted professional standards. We have too much on the line to do anything less.
Want to help? Please continue to subscribe to The Daily News. And while you’re at it, invite a friend to do the same. Thank you and God bless you and yours.