Decreasing Revenue
The Varsity gets money from two places - a levy, and advertising. All full-time undergraduates at the University of Toronto currently pay $2.72 a year, essentially a subscription fee. Advertising revenue amounts for over half our yearly revenue, and comes from selling space in the paper.
The Varsity's per-student levy is significantly less than that of other student media organizations, both at U of T and across the country, and we haven't had a real-dollar increase in several years.
Meanwhile, advertising revenue has fallen significantly since the financial crash of 2008, a trend felt across the publishing world. Some publications are making do by moving online-only. But print at The Varsity pays for itself.
Over 50 per cent of our revenue comes from print advertising - money that simply does not exist in the online world. And since printing and distribution costs amount to less than half of our expenses, print is not just paying for itself - it's paying for other things at The Varsity too.
We've cut costs too, economizing on staff and circulation. We're one of the only fully student-run papers in Canada, from the editorial staff to the business team.
So where would extra levy money be spent? The Varsity is continuing to expand its online presence, with a new award-winning website and even more online coverage that generates lots of debate.
What we're asking for is an additional dollar a year - less than the price of a coffee, or a bottle of Canadian - to help us to continue to grow and bring U of T students the news they need and want to see.
