Just two days after announcing a price rise and margin cut on the Sunday Express, newspaper publisher Reach has advised that the Daily and Saturday Mirror editions will follow suit.
From Monday August 1, weekday editions of the Daily Mirror in England, Wales and Northern Ireland will increase in price from £1 to £1.10 while the margin will be cut by 0.5 per cent to 19 per cent. In Scotland, the cover price will rise from £1.10 to £1.20, with a one per cent cut to the margin, taking it down from 20 per cent to 19 per cent.
Saturday editions are also increasing in price. In England, Wales and Northern Ireland, the price will rise 10p, from £1.70 to £1.80, but terms remain pro rata at 19 per cent. The Scottish edition, however, will see a 20p price hike to £1.80 with a 1 per cent margin cut down to 19 per cent.
“I feel betrayed by these margin cuts, as they are basically wage cuts to retailers,” said Jason Birks, National President of the Federation of Independent Retailers (The Fed). “Five years ago, we were receiving margins of 21.4 per cent on weekday editions and 20.6 per cent for the Saturday newspaper and look where we are now. In Scotland, the situation is even worse. Our Scottish members prior to this increase used to receive 32p for each copy of a Saturday Mirror sold, now with the 20p cover price hike, and because of this latest 1 per cent margin cut, they will receive 34.2p per copy sold – around only 10 per cent of the price increase. Our members are simply being forced out of selling news as profits are falling.”
Mr Birks added: “I am looking forward to meeting the decision makers at Reach soon and seeking reasons why the retailers are always the ones who are hit in the pocket the most.”
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