The publisher of The Daily Mirror is poised to launch a daily tabloid despite the closure of the Independent this month (12 February), sparking fresh doubts about the validity of print in an online-focused market.
The paper is set to hit newsstands later this month (29 February), according to Sky News, which has obtained key details on the plan. It will initially be priced at 25p, signalling an aggressive pricing strategy when compared to other national tabloids, which cost upwards of 40p in the main.
The launch is tipped to take place on the same day as Trinity Mirror’s annual results and will not run on the weekend. Coverage will span national, lifestyle and entertainment news, according to the report, while earlier reports said it would target women readers. However, one source quoted in the article scotched the rumour and said it would cater to a broader range of people.
Media agencies have already held discussions with the title’s team, which has also secured distribution deals with major retailers.
It is not known how much content New Day will share with The Daily Mirror.
The decision to launch a tabloid may seem counterintuitive given the difficulties in making that business model turn a profit. But Trinity Mirror, which has boosted its profits over the last two years by cost cuts, slashing its debt and bolstering its digital business, believes it's spotted an untapped opportunity.
Just last week, ESI Media announced it was axing the print edition of the Independent so that it could concentrate on growing its digital footprint. Media experts took it as a sign that the days of newspapers in print are numbered and that the economics behind it are no longer sound when circulation is in terminal decline and more and more advertising pounds are being fed through online channels.
Trinity Mirror did not respond to The Drum's request for comment in time for publication.