Ireland may be small, but its purchasing power is mighty, according to the Guardian. In the face of newspaper industry doom and gloom, the Irish are showing that maybe there is some bit of luck to keeping the newspaper business afloat.
U.K. papers are largely the beneficiaries of an enthusiastic readership on the Emerald Isle. The Sunday Times’ Irish Edition, the Sun, and the Daily Mirror all enjoy strong readership in the 4.5 million-strong island nation. The Daily Star, one of the U.K.’s top tabloid rags, gains 11 percent of its business from its Irish edition. Despite a crushing recession, Irish consumers are also seemingly willing to pay more for their news. Readers in Ireland pay about double what their neighbors across the Irish Sea dole out, especially for the gossip-filled pages of tabloids.
Though British papers may be reveling in a growing stronghold in the Irish market, there isn't room for everyone. Homegrown papers, like The Irish Times, are losing out to foreign competitors. The Times is reportedly losing $1.4 million a month.