This Canadian media company has launched 11 local news sites
The Business of Content with Simon Owens
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Show Notes
The last decade hasn't been kind to local newspapers. According to one study, 1,800 newspapers have shut down since 2004, and many of those that survived are facing tighter margins, layoffs, and corporate consolidation.
There are myriad reasons for this retrenchment. Part of the blame is on hedge funds that buy up local media companies and then squeeze them dry. Others point to major platforms like Facebook, Google, and Craigslist, all of which have siphoned away a large portion of the local advertising newspapers traditionally relied on.
Despite these headwinds, we've seen a few digital-first upstarts thrive in the local news market. One such company is Village Media, which started out as a single news site in an Ontario city and has since grown to 11 sites spread out across Canada.
I recently interviewed Jeff Elgie, Village Media's CEO, about the company's history and how it's succeeded where so many legacy newspapers have struggled or failed.