The New Day was the first new standalone national newspaper to be launched in 30 years when it hit newsstands with 2 million copies given away free on 29 February. It was then sold for 25p for two weeks before rising to 50p.
With an “upbeat, optimistic approach” and a politically neutral editorial stance, publisher Trinity Mirror aimed to sell 200,000 daily copies Monday to Friday, with chief executive Simon Fox declaring that “revitalising print is a core part of our strategy”. However it is thought that sales were only around 40,000.
Newsagents PrintWeek talked to were underwhelmed. One Brixton shopkeeper said it was the worst paper he sold.
“I just don't know who it was aimed at; God knows who did their market research but they're probably the only people that made any money from it," he said.
However, some New Day fans posting on its Facebook page, which has nearly 50,000 ‘likes’, hinted at distribution issues.
Melissa Wright said: “I bought it but also found it very difficult to find in shops.”
Michelle Jackson added: “Been buying since day one but on many occasions all our local shops and supermarkets ran out! If you only have 10 copies in, how is circulation going to be increased?”
The news coincides with publisher Trinity Mirror’s annual general meeting in London today.
A trading statement released this morning for the four-month period from 28 December 2015 to 1 May, reported a revenue fall of 9.3% in Q1 and an improved rate of decline of 6.4% in April.
Publishing revenue fell by 8.5%, with print declining by 10.9% (11.6% in Q1) and digital growing by 15.7% (14.8% in Q1).
Print advertising revenues fell by 19.% and circulation revenues by 4.5%. In April, print advertising revenues fell by 15.8% and circulation revenue fell by 3.7%.
It said: “The trading environment for print advertising continues to be volatile. We continue to focus on the delivery of our strategy, namely growing our digital audience and revenue, coupled with tight management of the cost base.
"At this stage, the board anticipates performance for the year will be in line with market expectations.”
On The New Day it said: “Although The New Day has received many supportive reviews and built a strong following on Facebook, the circulation for the title is below our expectations. As a result, we have decided to close the title on 6 May 2016.
“Whilst disappointing, the launch and subsequent closure have provided new insights into enhancing our newspapers and a number of these opportunities will be considered over time.”
Alongside its ambitions to be different in content, The New Day aimed at different production values to other newspapers. The tabloid-format is printed on 54gsm SCA Grapholnvent paper at Trinity Mirror Printing (Watford), the current holder of PrintWeek's Newspaper Printer of the Year title, with additional printing at Trinity's Oldham and Birmingham sites.
Editor Alison Phillips said in a post on The New Day’s Facebook page: “We have tried everything we could but sadly we just haven't reached the sales figures we needed to make it work financially.
“The response over the 50 issues we have published has been extraordinary. I have never worked on a title with such engagement from readers. There clearly were many people who truly loved the idea of a different kind of newspaper which spoke to them. But the reality was we didn't have enough of them on a daily basis.”
