Please join us, and other Canadians committed to the country’s future, by subscribing to The Logic. We also hope you’ll spread the word by sharing our articles and discussing our coverage. In return for your investment, we commit to working as hard as we can to produce reporting that is consistently engaging, factual and fair. Reporting that serves you, not advertisers. As with most startups, we are entering the world in beta. Our growth and success depends on your support. By subscribing early, you will be providing us with the operating capital we need to invest in longer-term investigations. With more subscribers, we will hire more reporters. As an early subscriber, you will also join The Logic Council, a membership community of service-minded leaders that, facilitated through our journalism, will aim to move our country forward through exclusive events and discussions on the issues that matter in Canada’s innovation economy.Skok is betting there are enough Canadian (and Canada-interested) readers willing to support the low-volume, high-quality type of business publication The Logic wants to be. He said there’ve been a few other twinkles of journalism innovation in Canada lately, despite a rough past decade. A national report published last year called The Shattered Mirror estimated that a third of Canadian journalism jobs have been lost since 2010. The most recent Reuters Institute Digital News Report found Canada ranked near the bottom of the countries it studied for proportion of people paying for online news. “I firmly believe that at this moment in time, for all the reasons many others have already documented, people are willing to pay for subscriptions in a way they weren’t just a short time ago,” Skok said. “You hear all the time that Canadians won’t pay for news online, but the thing is, many of them are paying for news from U.S.-based organizations.” As part of its global push for digital subscribers, The New York Times has been making a land grab in Canada and seemingly found success. Subscription sports site The Athletic has a profitable operation in Toronto and sites in six other Canadian cities. The Logic is looking to double its audience size every year, which, according to Skok, is a lower target figure than media watchers might assume (he didn’t share specific numbers) because “our cost structure is so low” (WordPress for production, Piano for the paywall, contractors for the site design). For many legacy media companies, over half of their revenue often goes towards production and distribution, and far less than half towards the actual newsroom and supporting reporting, he estimates. The Logic aims to spend upwards of 70 of its revenue on its newsroom. “We believe Canadians will want to support journalism. There hasn’t been a true business publication for Canada, a totally new one — there’s a lot of great work from already very established outlets — in almost 20 years. For me, I think we can play a role in filling a tremendous void,” Skok said. “Our target reader is someone who is willing and engaged enough to want to constructively disrupt the status quo. The makeup of Canada has changed dramatically over the last 10 to 20 years, and I believe there’s a whole generation of Canadians who’ve grown up and don’t see the way we’ve always done things the way we should be doing them now. Our hope is that we can convene and facilitate conversations among all those people.”
Photo of The Logic’s staffers by Nick Iwanyshyn, used with permission.