Print Media in Dire Straits?

Late last week, The New York Times threatened to shut down The Boston Globe unless cost cutting concessions were not given by its union – $20 million in cost cutting concessions that is – including pay cuts and the cessation of pension contributions. This after already undergoing “several rounds of deep cost-cutting and staff reductions,” according to the NY Times.

This week, the newspaper is launching a branding and subscription campaign.

With “One Story” as its tagline, the campaign focuses on the Globe’s photography and range of storytelling. According to EditorAndPublisher.com, the campaign will include 30- and 60-second TV spots on NESN during Red Sox games and more than two dozen prints ads in the Globe and the Metro.

To view the TV Spots, visit the Boston Globes promotions page.

How long will The New York Times give this campaign before pulling the plug and shutting it down? Is this the right step for a print media company?

TechCrunch’s Duncan Riley recently reported on the state of U.S. print media in Decline Of US Newspapers Accelerating. He wrote that “Declining revenues will ultimately force consolidation across print media in the United States, and many of those that fail to embrace change will be on borrowed time.”

Does the Globe really believe that a marketing campaign highlighting its photographic excellence and range of storytelling is “embracing change”?! I can hear the clock ticking for The Boston Globe. One thing’s for sure: If they want to focus on stellar photography, the Globe’s going to need a shiny new update to their website template – one that has the power to showcase those great shots!

For a taste of the Canadian media landscape, just visit @CanMediaLayoffs, a hard dose of news items relating to layoffs in Canadian media. Warning: It’s not pretty.