While Transcontinental Inc. sees the print medium co-existing with new media for a very long time, its chief executive Francois Olivier says he expects that new technology like e-readers will take away up to a fifth of its business in the next couple of years.
He told the Canadian Press in an interview following the company's annual meeting:
"We believe that things like the Kindle (and) iPad are probably going to take anywhere from five to 20 per cent of the printed market away . . . in the next couple of years, so it's a big big big thing for us," Olivier said.
Digital media generated 7% of Transcon's total revenues -- about $150 million last year -- and the sector grew by 30 per cent in each of the last two years. Its email marketing business has doubled its sales annually.
The CP story said that Olivier believes new media will increasingly be used to complement flyer printing, which remains popular and well-read. Next month, Transcontinental will launch a web version called Dealstreet.ca for English consumers and Publicsac.ca in French.
Transcon remains bullish on printing. Founder Remi Marcoux says that the company will change to meet whatever needs and expectations customers have. He told shareholders
"Transcontinental was born out of change."