On behalf of BIV, I'm writing first to express our hopes that you and loved ones are safe and sound in the pandemic and that your workplaces and businesses are stabilizing in this extraordinary challenge.
During the COVID-19 crisis, BIV has provided trusted and thorough coverage of business and the economy. We are proud of this work as part of a three-decade service to our communities. Our team in editorial, sales, production and circulation has worked very hard to serve your needs. This is not an easy time for anyone.
Months ago, I wrote to seek support of our publication as we experienced a significant decline in advertising revenue. Many have reached out and committed to one-time or to monthly contributions to help us sustain our journalism. We are immensely grateful.
Nearly six months into this disruption, there are some promising signs of recovery, but we continue to fall short in year-over-year revenue. We have cut staff and rolled back salaries. It is fair to conclude some of our business will not return, so we have diversified to attract new support. We are gaining particular attention for the series of themed podcasts and editorial content, and we have several innovative initiatives in the works.
This month we will outline plans for new print and online subscription packages that will include exclusive virtual presentations and networked discussions and a loyalty program with business discounts and opportunities. We will have lower-cost introductory offers and more affordable renewal options available. While we have presented our work freely online and seen our audience grow, we will soon start asking you to register for limited access to our journalism and to subscribe for full access. We believe you will find our offerings affordable and valuable.
Simply put, there is no other way to sustain the range of our journalism across these platforms without a larger proportion of subscription revenue in the mix.
I am asking again of those able in our community to provide direct support to ensure the continuation of our local business journalism during and beyond this crisis.
I encourage you to advertise with us to reach the best business audience of any publication in British Columbia and to support the businesses that have supported us as advertisers.
We have been asking for direct support with a variety of packages and offering a low-cost digital subscription to the Globe and Mail as part of this initiative. You can cancel your monthly donation at any time.
Above all else, please stay safe and well. We appreciate your advice and insight during this time and welcome comments and suggestions. Write me directly at firstname.lastname@example.org.