As they watched closely what the New York Times was doing over the last year to generate more subscription revenues, the Globe and Mail recently announced the addition of its own pay wall, a few days later the Toronto Star also announced they would be turning on their pay wall at the start of 2013.
Well this now marks the beginning of its forth week for the Globe and Mail’s pay wall, according to sources the new product has exceeded expectations for revenue. We pushed further on what exactly the Globe’s revenue target and/ or subscription target was for their first month, but could not get a specific answer. For now it looks like we’ll have to wait for specific numbers when they report their quarterly earnings next. As for the NYT who reportered their latest quarterly earnings 2 weeks ago, advertising revenue declined 8.9 percent but they did report a 7.4 percent increase in circulation revenues. Digital subscriptions to the New York Times were up 11 percent since the last quarter to a total of 566,000.