Downsizing At The Bermudian
The Bermudian Publishing Company today announced that it would be downsizing its operations "in order to remain viable for the future".
As a result, The Bermudian magazine will move to four issues per year, The Bermudian Market Digest will cease publication immediately and The Bermudian Business Directory will end in 2006. Bermudian Business magazine will be unaffected. Two members of staff will be made redundant, the company will relocate outside Hamilton and starting in October all magazines will be printed in the United States rather than Bermuda.
The Bermudian celebrates its 75th anniversary this year, making it the oldest colour monthly magazine on the island. The magazine was launched by William D. Richardson, a former editor of the New Yorker, with the aim of being "a magazine devoted to Bermuda and Bermuda life". The magazine will now focus on its most popular features: the Interior Design awards, the Building Design awards, the Best of Bermuda awards and Christmas.
"The cost of production and running a small business in Bermuda continues to grow and so we have had to look at how we can operate more efficiently so that we can continue for the next 75 years," said Tina Stevenson, publisher and editor.
Indeed. Publishers in Bermuda must pay duty on all equipment, paper and ink that they use; however there are no duties on imported printed goods. There are also an increasing number of local publications and media outlets, chasing a declining number of advertising dollars.
It's a sad day when a Bermudian institution as venerable as The Bermudian has to scale back its operations to stay afloat. But as Triminghams has already demonstrated, even the venerable are vulnerable in today's economic climate.
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That's horrible.
I would hope that the government would do something to ensure that we always have literature, radio, television AND *ahem* film on the island that is 100% Bermudian. That the Bermudian Publishing Company is being forced to downsize is a disgrace. We should be supporting Bermudian media...
Posted by Jessica on 22.07.05 at 06:16
Bermuda is tough on capital intensive industries like printing. Local guys pay big duty on their multimillion $$ equipment, while their overseas competitors ship in printed matter duty free.
Government should know: I stumbled upon their new book on "500 years of Bermuda business" in a waiting room last week. It was published in England and printed in Dubai.
Now "The Bermudian" will be printed in the US, can we call it "The Expat"?
Posted by Buy Bermuda on 22.07.05 at 08:51