After almost 200 years, London’s Evening Standard is making a major change to its publication schedule. The newspaper, which was first introduced as The Standard in 1827 before its evening edition in 1859, will no longer be circulated on a daily basis. Instead, it will shift to a weekly format.
In an email addressed to staff and seen by the PA news agency, the paper’s chairman Paul Kanareck explained that the decision was made due to significant financial losses. The Evening Standard has been distributed for free at underground stations across the capital from Monday to Friday, but recent changes in consumer behavior and the impact of the COVID pandemic have greatly affected its circulation. According to figures from the Press Gazette, the paper’s distribution has dropped from 700,000 copies to 274,000 copies just last month.
“We plan to consult with our staff and external stakeholders to reshape the business, return to profitability, and secure the long-term future of the number one news brand in London,” the email read.
Kanareck also outlined plans for the new weekly newspaper, which will feature more in-depth analysis and relevant lifestyle, sports, and culture news. He referenced the success of the paper’s sister publication, The Independent, which underwent a similar strategic transition in 2016 and has since seen growth in readership and commercial success.
The Evening Standard is owned by Evgeny Lebedev, who purchased the paper for £1 in 2009. Lebedev, a shareholder in The Independent and son of Russian oligarch and former KGB agent Alexander Lebedev, was appointed to the House of Lords in November 2020.
The decision to end the Evening Standard’s daily circulation comes at a challenging time for the print and news industry. The industry has experienced significant job cuts and company restructures in recent years. Just this year, the publisher Reach, which owns the Daily Mirror and the Express newspapers, announced plans to reduce costs and jobs in an effort to focus on its online presence. The company recognized the need to adapt to an “increasingly fast-paced, competitive, and customer-focused digital world.”
The Evening Standard has been contacted for comment on the decision to transition to a weekly publication.
