Toronto Star to launch paywall in 2013
The Canadian Press
Published Monday, October 29, 2012 2:22PM EDT
TORONTO -- Canada's biggest newspaper by circulation The Toronto Star is preparing to launch a paywall for its website sometime next year, the newspaper's publisher said Monday.
It's the latest major Canadian newspaper to ask readers to pay for full access to online content with a digital subscription model.
"This move will provide a new source of revenue for the Star that will help support our ability to provide readers of both our print and online editions with the best and most comprehensive package of news and information in Canada," publisher John Cruickshank said in a note to readers.
Earlier this year, National Post owner Postmedia (TSX:PNC.A) (TSX:PNC.B) began unrolling its own paywall structure at dailies across the country.
The Globe and Mail followed with a similar model last week.
Newspapers have been looking for new ways to drive revenues as more readers gravitate towards their Internet websites. The shift is eroding print advertising revenues in favour of less lucrative online ad sales.
The Toronto Star is owned by Torstar Corp. (TSX:TS.B), partial owner of Canadian Press Enterprises Inc. and publisher of the Hamilton Spectator and other daily and community papers throughout Ontario. Torstar reports its third-quarter earnings results on Wednesday.
Its announcement came as both the Wall Street Journal and New York Times pulled down their paywalls temporarily so that readers would have unlimited access to their coverage of Hurricane Sandy.
Torstar's B shares were down four cents to $8.66 near midday on the Toronto Stock Exchange.