The cost of production has forced at least one media company to raise its newspaper prices.
In a notice dated October 1, Guardian Media Ltd (GML) advised that, “Effective October 3, the cover prices for the TT Guardian will be $5 on Sundays and $4 Mondays to Saturdays.
“Although GML has tried to absorb the rising cost of newsprint, this cost has become necessary at this time.”
It also advised that distributors will now collect $3.75 VAT inclusive for Mondays to Saturdays newspaper and $4.60 VAT inclusive for Sundays.
TT Publishers and Broadcasters Association (TTPBA) president Grant Taylor said the increase in production costs within the past couple of years has skyrocketed due to several factors.
“The cost of production has gone up significantly. In less than two years the price of print has gone up by as much has 50 per cent. The cost of shipping goods has been significantly more expensive.
“There is a paper shortage, some suppliers do not have stock until next year,” Taylor explained.
He said the decision by other media companies to increase prices or not remained with the company and not one in which the TTPBA would involve itself.
“That is not a discussion that would come up in the TTPBA forum, that’s a commercial decision that is made by individual media houses. It has nothing to do with the TTPBA and would not be discussed at that level.”
Newsday tried to contact GML managing director Brandon Khan for comment on the increase, but calls went unanswered.
Taylor, who is also the managing director at Newsday, said it would not increase prices.
“We have absolutely no plan to increase at this time. We don’t feel now is the time to burden our loyal readers with an increase,” Taylor said.
Newsday also contacted CEO of One Caribbean Media Dawn Thomas who said there was also no plan to increase prices on the Express newspaper.