The Christian Science Monitor said Tuesday that it is dropping its daily print format and will move to a daily online publication.
In April of 2009 the Monitor said it will introduce an updated version of its Web site, CSMonitor.com, and launch a weekly print edition and a daily online subscription.
By making the move to a daily online publication, the Monitor is the first major international newspaper to embrace digital media.
The Monitor expects that by discontinuing its five times a week print edition to reduce its current net losses of $18.9 million a year on $12.5 million in revenue to $10.5 million within five years.
The Monitor says its new online edition will feature reporting seven days a week with continuously updated stories. Its new weekly edition will feature in-depth coverage in a print format.
In addition to the updated Web site the Monitor will offer a new daily newsletter that will be available by email.
“Like much of the news industry, the Monitor has embraced online reporting and is now one of the first publications to treat its Web site as its primary publishing format,” said John Yemma, editor of the Monitor.
“The Christian Science Monitor recognizes that daily print has become too costly and energy-intensive. Online journalism is more timely and is rapidly expanding its reach, especially among younger readers,” said Yemma.
“There’s still a role for print, but one that is geared to weekends, when people still can find time to catch up, look behind the headlines, and experience the pleasures of print. Our shift to a Web-first, multiplatform strategy is likely to be watched by others in the news industry as they contemplate similar moves.”
