We have been reaching out for your support as we deal with unprecedented challenges to our operation. Many have donated, many more have offered their willingness to help as they restore their own businesses and incomes. We are grateful and recognize we are not alone in grappling with the pandemic's effects.
During the COVID-19 crisis, BIV has provided the province’s most trusted coverage of business and the economy. We are proud of this work as part of a three-decade service to our communities.
Nearly four months in, our advertising revenue has only modestly rebounded. We believe some of it has permanently disappeared. We have deferred our many events and switched to virtual presentations in the absence of opportunities for large gatherings, but that has also cost us considerably in the economic support of our business.
Our online audience has grown, but BIV depends on year-round advertising support, particularly of our print edition. When our clients cancelled or delayed spending due to their own uncertainty, we had to institute staff layoffs and salary rollbacks. These are now in their fourth month and I am proud that our dedicated team in editorial, sales, production and circulation has worked hard to meet the challenges.
We continue to need your help.
While we have applied for federal wage subsidies, that program is likely to discontinue or be modified shortly. Much-publicized direct government support of journalism, announced more than a year ago, has yet to surface. Even those measures combined, though, will not address our problems without a strong resurgence in lost advertising revenue.
I recognize and respect that we are not alone. There are many demands as you ensure your safety and that of your family. Many of our readers are in difficult economic straits and need to first look after themselves.
That being said, I am renewing our request to those able in our community to provide direct support to ensure our local business journalism can continue during this crisis and beyond.
First things first: As our clients, bring back your business-to-business advertising to reach decision-makers as you rebound from the pandemic. We have introduced several discounted and bonused offers to meet your needs and capacities.
Second: Please support those who have supported us by making them your business choices at this time.
Third: As our readers, please consider providing a direct contribution through a new offer we have created to backstop our local journalism during this trying time. The funds will be used to sustain our publication.
We will soon outline an introductory six-month digital subscription at a heavily discounted rate. As a supporter, you will have early access to tickets for our events and a new loyalty program of benefits we will soon unfurl. As part of this offer now, you can receive a discount-rate digital subscription to the Globe and Mail for national and international coverage.
You can cancel your monthly donation at any time. We want to emerge from this period better able to serve your needs, but we have a greater chance to do so if we can enlist your help. Our offer and its options are outlined on the link below.
Above all else, please stay safe and well. We are grateful you are turning to our journalism at Business in Vancouver as a vital source of information on COVID-19 and its impact on our community. I welcome your comments and suggestions. Write me directly at firstname.lastname@example.org.
Publisher & Editor-in-Chief