Yet another windfall profit has reared its ugly head at the Daily Herald. For subscribers who pay by check rather than credit card, the Daily Herald always tacked on a $1.00 charge for the eight week billing period. With the Daily Herald’s new policy of invoicing every four weeks, the $1.00 charge now doubles to $2.00 ($1.00 for each 4-week cycle), a 100% increase when compared to the previous 8-week billing cycle. Cha-Ching….Cha-Ching….Cha-Ching!
Everyone knows that merchants accepting credit card payments pay the credit card issuer a fee, often 5% of the purchase. It was reported in October 2010 that the Daily Herald subscriptions dropped about 6.5 percent to 104,297 copies weekdays and fell around 5.7 percent Sundays to 112,110 copies. With the four week 7-day delivery being billed at $19.00 we’ll let you do the math to see how much the Daily Herald is paying for credit card usage EACH month. (total weekly subscribers X $19.00 X 5%)
Yet, even with huge amounts being spent for credit card services, the Daily Herald seems to feel that cash and checks are more costly to process. If 50% of the 100,000 print subscribers pay with checks, that’s yet another $50,000 in revenue pouring into the Daily Herald coffers (this is on top of the $1.00 per invoice they were already charging for 8-weeks). Just imagine how much more it will actually be now that there will be Online Access Only subscribers who will also be invoiced. Cha-Ching….Cha-Ching….Cha-Ching!
I reported earlier that the Daily Herald’s mandatory “opt-out” of their new Subscriber Total Access would reap them a windfall of added revenue. New invoices being mailed out will indicate a “print service’ charge as well as an ‘online’ fee. Anyone not reviewing their new bill will be paying an additional $4.00 for the shortened four week billing cycle. As I reported, print subscribers MUST “opt-out” or the charge will continue showing up on their invoice each and every month. Rather than make the Subscriber Total Access an “opt-in” option, the Daily Herald will greatly benefit from the unsuspecting public.
You can “opt out” of Subscriber Total Access on their secretive on-line opt out page: DAILY HERALD OPT-OUT
As far as the 100% increase being charged for subscribers paying by check, I would suggest that you prepay for the next four week cycle every time you receive an invoice (a total of $39.00 ($19 +$19 +$1) like you used to, so that you won’t be filling those money bags at the Daily Herald. Cha-Ching….Cha-Ching….Cha-Ching!