Trading Post dumps print edition – tell ‘em they’re not dreaming
Trading Post is dumping its weekly print edition to move online reported from the latest confirmation of changing times in publishing. The classified advertising icon, which was immortalised in the hit film “The Castle” will publish its final print edition at the end of October.
Since its genesis in 1966 as the Melbourne Trading Post, Australians have bought and sold almost anything through the weekly – from cars, boats, bikes and trucks to pets and household furniture.
Michael Padden, Telstra’s head of classifieds, says nine out of ten Australians now access the internet weekly as online shopping becomes an increasingly popular pastime.
The decision brings Telstra into line with a harsh and sad reality that is gripping publications around the world. “With print classifieds usage declining significantly across ad volumes, circulation and readership, it’s unviable to continue producing the weekly print publications,” Mr Padden said.
The end of the Trading Post in its best known form comes as the global newspaper industry continues to bleed from plunging levels of classified advertising, once known as the “rivers of gold”.
Earlier this week, the outgoing chairman of Fairfax Media, Ron Walker, defended his push for new digital acquisitions saying the once mighty publishing empire might have collapsed if efforts to replace advertising revenue were not made.
“If we had continued to rely on the cash flows from the Sydney Morning Herald, the Age and the Financial Review, the company wouldn’t have existed today, so, it’s paid off for us,” Mr Walker told PM.