Friday, August 24, 2007

Toronto Star looks to web for $$$

As Canada's largest daily newspaper faces revenue challenges amid ongoing slippage in advertising, the newspaper's website is enjoying increased traffic and revenues as the company invests heavily in online media, The Canadian Press reports.

"Digital revenue for our newspaper and digital segment grew by about 50 per cent year over year, albeit on a modest base," company head Rob Prichard said.

Although digital revenues accounted for just 4.3 per cent of the total in the quarter, that was still significantly ahead of the 2.8 per cent in 2006.

"This is an important achievement for securing our future," Prichard said.

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