Canadian Newspapers: Hungry for Daily Deals

Seeing that Daily Deals and Group Buying sites attract hoards of local consumers, it is no surprise that Newspaper and other media companies have taken interest. Or at least they have started to.

In this country, Canada, there are two Newspaper publishers that we know of that are actively participating in Groupon-type Daily Deals. There may be more, if you know of any, let us know.

Torstar: Owners of Metroland Newspapers and  Toronto Star. They own Wagjag.com. It has become one of the top Daily Deal sites in the Country.

PostMedia Network: the country’s largest publisher of paid English language daily newspapers. Postmedia owns the daily deal service Swarmjam.com

Yellow Pages: although not a newspaper, they are a publishing company and have incredible local reach. They own RedflagDeals, which has a daily deal service and they also own Les Pac in Montreal, the popular french classifieds service which now has Daily Deals. Both Les Pac and Redflag Deals Daily Deals service do very well.

Is this where anxiety ridden newspaper publishers see further local advertising opportunities? Newspapers and publishers have had significant declines in both readership and advertising revenues for several years now. They simply have not been able to compete with the likes of Craigslist, Kijiji, Les Pac, internet marketing and Social network marketing. However, it now seems that this Group Buying/Daily Deal model can generate substantial revenues for publishers.

Recommendation:

1. If you are a publishing company that owns the online version of your local newspaper, then get a Daily Deal service running on it quickly and service your local customers with relevant deals and build advertising relationships with local retailers.

2. If you are a publishing company that does NOT have an online presence in your local markets, well, shame on you. Either build a local presence online to serve your customers and get a daily deal service running on it fast, or simply buy one of the many daily deal sites already available and forget your online presence, simply own the Daily Deal service. No need to spend millions on the purchase, or hundreds of thousands of dollars. This is not Silicon Valley where folks love writing large checks. There are plenty of Daily Deal owners who would sell for a very low price. Contact us and we’ll point you in an appropriate direction.

We are already working with other Media companies in terms of helping them with their Daily Deal strategies. We anticipate that many more Media companies and publishers such as Newspapers, online portals and magazines will eventually enter the Daily Deal market in 2011. Daily deals are a perfect fit for Media companies that have:

1. A Large local audience of consumers,
2. A large audience of retailers
3. Both

There is an incredible thirst from consumers pertaining to Daily Deals and Media companies can no longer ignore the revenue potential.

Thoughts? Speak your mind.