Last week, after the Oct. 12 edition had come out, the Herald was thrown into crisis-mode. Balancing the checkbook led to a discovery of an acute shortfall in cash flows and receivables. We had enough funds to publish two more issues, and that was it.
Advertising sales, which generate 80-85% of revenue, have been down significantly all year. It’s not unusual to have a slump from time to time, but this one has been steady and extended.
Meanwhile, the cost of production has gone up significantly, just like everything else. The price for the ‘paper, people and postage’ it takes to create one print copy is now about $5.55.
So, facing the imminent demise of the community institution we love, we went into emergency management mode. We laid off our staff reporter, cut hours for one part-time office staff member, implemented austerity measures for ourselves (a fancy way to say, “how long can we go without getting paid?”), cut the number of print copies we order and distribute, and started looking at all available options for revising the business model to ensure sustainability. On Friday night, we issued an emergency alert via email to newsletter subscribers and shared it on our social media channels with a request to you, the community, to save your 138-year-old newspaper.
And boy, did you respond. As of press time Wednesday, the Herald has received more than $20,000. There is no way we can thank you or express our gratitude enough, except to reaffirm our commitment to keep this local, independent community publication alive.
The donations are a stopgap measure. It will keep the Herald printing at least for the month of November and hopefully through the end of the year while we determine — with wise counsel — the best way to ensure sustainability for the newspaper long-term. Those plans are taking shape now, and we’ll keep you up-to-date.
On behalf of all the Herald’s caretakers, past and present, our sincerest gratitude.
Niki & Caitlin
Owners, Herald Times
What happened:
85% of newspaper funding comes from advertising sales. Those dropped suddenly and unexpectedly. Since we operate on a shoestring like any small business, we did not have sufficient cash flows or receivables to cover basic expenses past Oct. 26, 2023.
What we’re doing about it:
– Letting our full-time reporter go.
– Cutting all extraneous expenses, including our paychecks.
– Many of our single copy locations will be removed to save on costs. To keep reading, purchase a subscription at ht1885.com/subscribe
– Our last ditch effort will be killing the print edition and going digital-only.
What you can do:
Become a Community Supporter.
We know the traditional model is broken, and we are working hard to pivot. Community support gives us additional time to make the Herald healthy and sustainable. Anyone who gives any amount in the next two weeks will become an honorary member of our future membership model. Every single dollar received will be used to continue local news coverage. You can give at:
or PO Box 720, Meeker, CO 81641.
