The London Assembly Budget Committee has condemned the Mayor’s newspaper, The Londoner, for failing to make money on advertising space, the London Assembly heard today. The publication, which costs more than £3 million a year to produce raised just £16,000 in advertising income in three editions since February 2004.
When asked during a meeting of the Assembly’s Budget Committee to account for the figures, Redmond O’Neill, the Mayor’s Policy Director for Public Affairs and Transport, said that seeking advertising in the publication was still in its early days.
Andrew Pelling AM, Chair of the Committee, said: “It seems incredible that The Londoner costs millions to produce, yet advertising space is sold for a pittance. There can be virtually no mark up between advertising costs and how much is charged for the space.
“The Mayor’s newspaper is funded almost completely from public money, yet little effort is made to ensure Londoners get value for money. A publication with a circulation of three million should be making more money and costing tax payers less.”
