By: Jennifer Saba Like many papers have recently, the Richmond (Va.) Times-Dispatch drastically reduced its daily stock listings in mid-July. At the same time, management understood that cutting aggregate tables -- the paper still runs summary listings -- would alienate a portion of their readership, most likely long-time subscribers.
"We were sensitive to the fact there's a segment," said Publisher Tom Silvestri "that cutting stocks would trouble them."
So Silvestri decided take a shot with customization and produced a weekly, separate, stand-alone eight-page section that lists stock and mutual fund data. Readers with Saturday home-delivery receive Markets Review free of charge, upon request.
The Times-Dispatch did some research before venturing out with Market Review. Silvestri explained the paper produced a year-end stock review section in 2005, delivered free for those who wanted it. "It showed there was a die-hard audience of about 10,000," he said.
Sure enough around 10,000 Saturday subscribers have requested Market Review since it was introduced July 15. With a daily circulation of 186,296, that number of subscribers wanting the section also shows how few people actually read the stock listings.
The Times-Dispatch is treating Market Review as a "new niche product," Silvestri said. The section has four ad positions but so far interest from advertisers has been tepid. The paper plans to do more research but the overall goal, Silvestri says, is to provide readers with a service.
The Times-Dispatch might try its hand at other customizable sections but Silvestri admits it works best when the audience demand is small. "We would drive our carrier force crazy pulling apart the paper," he said. "That is something we don't want to do."
Market Review though assures core readers the paper still has their needs at heart. As Silvestri puts it: "It tells the long-term reader we didn't abandon them totally."
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