So, we’re kind of out of money. The headline and accompanying art might be a little dramatic, but with an awful economy, rising cost of newsprint and ink and declining revenue from advertisements, we’re in a tough situation.
To compensate for these losses, we’re not printing on Fridays, at least for Winter Quarter, which saves us nearly $15,000. We bring in about $750,000 every year, $48,000 of which comes from University-related funding. We spend approximately $200,000 on production costs; the remaining, roughly 85 percent of our revenue, goes to our salaries. That $15,000 saved means we don’t suffer any layoffs and the quality of the print edition will not be compromised Monday through Thursday.
To be perfectly honest, where we’re at right now is not worse than where we were this time last year. We just fear we’re looking down the black hole of Nexus death, and we want to make sure we don’t fall in.
Although we’re upset, this cut didn’t catch us by surprise. Production costs are up by 15 percent. Revenue is down by eight percent. We have a hard time selling as many ads as we need to, especially classifieds and especially on Fridays.
Syracuse University’s, UC Berkeley’s and the University of Minnesota’s student papers have started printing only four days a week as well. The newspaper industry as a whole has taken huge hits; newspaper share prices fell by 60 to 90 percent, and the U.S. Dept. of Labor estimates about 21,000 people in the newspaper business lost their jobs this past year.
With the money we save, we’re hoping to bring back Friday issues come Spring Quarter. For now, add a Daily Nexus icon to your iPhone home screen and stay connected with online exclusive updates on Fridays.
There’s always alumni fundraising
Even if almost none of the alumni have gone on to lucrative or stable careers.