Can the Sun on Sunday really keep Rupert happy?

The Murdoch tabloid will have to buck the industry trend.

So, no pressure then. Thirty six hours before the presses were set to roll for the debut edition of the Sun on Sunday -- aka NotW: Resurection -- Rupert Murdoch took to Twitter. He wrote:

The Sun:great speculation, sweeps, etc on Sunday's sale.I will be very happy at anything substantially over two million!— Rupert Murdoch(@rupertmurdoch) February 24, 2012

 

Murdoch, whose every passing tweet reads like an audition for an as yet to be commissioned series of Grumpy Old Men, has promised staff in Wapping to stick by "you all, in London, for the next several weeks". To some that sounds warm and avuncular. To others, like a threat.

And quite what "substantially over two million" means is anyone's guess.

There remains an appetite for Sunday redtops -- both the Sunday Mirror (sales up 65 per cent since the News of the World stopped printing) and the Daily Star Sunday (up 95 per cent from a lower base) greatly benefitted from the absence of a Murdoch tabloid on the Sabbath.

Yet the overall trend for newspaper sales is firmly in the other direction -- and that hasn't changed in the six and a half months since the NotW said "Thank you and Goodbye".

Consider that most nationals are down substantially (that word again) year on year -- sales for the Sun, for example, are 8.35 per cent lower, according to the most recent figures released by the Audit Bureau of Circulation.

Prior to its closure the NotW was already suffering a similar decline. In the six months from January to June 2011 the paper sold an average of 2.68 million copies a week; impressive numbers but 7.75 per cent fewer compared to the same period 12 moths earlier. Go back to 2010 and the decline was 3 per cent. So the loss of sales is not only ongoing, it's accelerating.

Consider too, that in the age of Leveson, a more button-upped Sunday tabloid will have lost the shock appeal on the news-stand it once had.

The buzz around the first issue will help Murdoch towards his personal target but once things settle into the weekly routine, will the Sun on Sunday really be able to hit 2.5 million, or more?

Regardless, our own Peter Wilby believes the shareholders at News Corp are playing a longer game that ends in the sale of Murdoch's UK newspapers. In the current New Statesman, Wilby writes:

A successful launch of the Sun on Sunday ensures a higher sale price.

 

 

Jon Bernstein, former deputy editor of New Statesman, is a digital strategist and editor. He tweets @Jon_Bernstein. 

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The Brexit slowdown is real

As Europe surges ahead, the UK is enduring its worst economic growth for five years. 

The recession that the Treasury and others forecast would follow the EU referendum never came. But there is now unmistakable evidence of an economic slowdown. 

Growth in the second quarter of this year was 0.3 per cent, which, following quarter one's 0.2 per cent, makes this the worst opening half since 2012. For individuals, growth is now almost non-existent. GDP per capita rose by just 0.1 per cent, continuing the worst living standards recovery on record. 

That Brexit helped cause the slowdown, rather than merely coincided with it, is evidenced by several facts. One is that, as George Osborne's former chief of staff Rupert Harrison observes, "the rest of Europe is booming and we're not". In the year since the EU referendum, Britain has gone from being one of the west's strongest performers to one of its weakest. 

The long-promised economic rebalancing, meanwhile, is further away than ever. Industrial production and manufacturing declined by 0.4 per cent and 0.5 per cent respectively, with only services (up 0.5 per cent) making up for the shortfall. But with real wage growth negative (falling by 0.7 per cent in the three months to May 2017), and household saving at a record low, there is limited potential for consumers to continue to power growth. The pound's sharp depreciation since the Brexit vote has cut wages (by increasing inflation) without producing a corresponding rise in exports. 

To the UK's existing defects – low productivity, low investment and low pay – new ones have been added: political uncertainty and economic instability. As the clock runs down on its departure date, Britain is drifting towards Brexit in ever-worse shape. 

George Eaton is political editor of the New Statesman.