Chamber Announces Publishing Division
The Bermuda Chamber of Commerce announced the formation of a new publishing division, designed to stem the tide of overseas publishers selling advertising to local businesses, and an estimated $2 million in revenue leaving the island each year.
Chamber EVP Joanne MacPhee noted: “The Chamber welcomes the formation of the Publishing Division as it serves to further engage our members. One of the key values to membership in The Chamber is the opportunity to network with industry peers and come together on matters of mutual interest.
“Like all of our other Divisions, individual members are in competition with one another, but collectively they have the power to affect real change on behalf of their respective industry sectors, and we applaud our publishing members for uniting to form this new Division. This is what The Chamber is all about.”
“Top of the agenda for the new Division is the determined effort to stem the tide of overseas publishers selling advertising to local businesses in Bermuda and then taking 100% of the revenue out of the local economy,” said a statement from the Chamber.
“We estimate that more than $2million in advertising revenue leaves the island each year, with no substantive financial benefit to Bermuda. Some advertisers are not aware that they are supporting an overseas enterprise.
“These overseas publishers operate in direct competition to our companies, which pay local taxes, employ Bermudians, rent office space and do business with a myriad of local suppliers and utilities.”
“The Division has already lobbied the Ministry of Economy, Trade & industry to restrict work permits which allow overseas publishers to operate in Bermuda.
“The division also plans to launch a media campaign aimed at educating potential advertisers about the importance of spending their limited advertising budgets on local publications and in doing so, keep the money circulating in the local economy.
“Collectively The Chamber members represented by the division employ more than 150 full-time staff and 100 local freelance writers, photographers and designers.
“Independently, the members aim to actively lobby Government and others, to win publishing contracts currently being awarded to overseas providers.
Ian Coles, the spokesperson for the division explains further; “Currently, several foreign-based companies are sending sales representatives into the local market to sell advertising in publications which are produced overseas and then shipped back to the island for distribution.
“We are aware of a number of overseas publications currently being supported by Government and others, and at no time have the local publishing houses been given the opportunity to bid on these titles.” explained Mr. Coles.
“All we are asking is that those currently contracting with overseas publications give the local publishers an opportunity to bid on the business.”
Local companies presently represented by the division are; Bermuda Media, Bermudian Publishing, Bermuda Press Holdings, Media House/The Bermuda Sun, The Royal Gazette and Print Link.
“There are however other printing and publishing companies in Bermuda which are not currently members of The Chamber and efforts are now underway to engage them in the process,” said a statement from the Chamber.
The biggest culprits here are the Bermuda Government and Bermuda Business (BIBA) with their big ticket publications … produced by UK publishers and printed in China!
Mr. Cole is mistaking when he said that the local Publishing Houses have never been contacted by companies who print outside of BDA. I have tried several times and always got the same answer.. the volume I needed was just too much for them to handle.
Another factor is simply the price. It cost a lot more to have your Magazines or Books or even fliers printed in Bermuda than it is (and that included Shipping and Handling) to print them elsewhere.
I suggest that Mr. Cole gets his facts straight first and not just talk in his own best interest. After all he himself is a Publisher.