Author: Tony IrvingA crowd of 200 supporters gathered at Hibernian Hall in Roxbury’s Dudley Square on Wednesday, Sept. 30, 2009, to attend a community meeting detailing efforts to shore up the finances of the Bay State Banner.
A tough economy and a rapidly changing print media industry have dealt the Bay State Banner some tough blows, but supporters said last week the Hub’s black weekly can survive, with help from the community.
“The Banner is the most important means of communication in our community,” said Harvard Law Professor Charles J. Ogletree Jr., speaking to a crowd of 200 supporters who gathered at Hibernian Hall in Roxbury’s Dudley Square last Wednesday for a community meeting detailing efforts to shore up the paper’s finances.
Black business owners, community activists and longtime readers broke bread and listened to a presentation by Next Street Financial — a firm that provides consulting to businesses — on strategies for the Banner’s future.
The Next Street analysis detailed the dramatic drop in advertising revenue in the newspaper industry, which led the Banner to suspend publications for several weeks this summer.
The Banner reopened in August after receiving a $200,000 loan through the Boston Local Development Corporation, a nonprofit entity administered by the Boston Redevelopment Authority. Since then, the paper has taken several steps to bolster its revenues, including raising advertising and subscription rates and hiring a new director of sales to expand its advertising base.
In the near future, Next Street will put the finishing touches on a new business plan for the Banner.
Banner Publisher and Editor Melvin B. Miller expressed confidence in Next Street’s plan.
“I feel saved already,” he quipped.
Miller called for a subscription drive, telling the audience that the newspaper is looking to sign up 5,000 new subscribers as a way to bring in revenue.
After the Next Street presentation and a question-and-answer session, attendees filed out of the hall, taking stacks of subscription cards.
