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The well regarded New Zealand racing print and online publisher The Informant has ceased publishing after owner Racing Media NZ Ltd cited a lack of core industry support for the business.
Owner Matthew Francis said in a statement that the headwinds facing the publishing industry were well known and the growth in readership had not overcome the declines in in advertising revenue.
"The industry is generally seen as not being progressive and many brands are dramatically reducing their association with it. Plus racing is failing to promote itself heavily to the wider public. Eight years ago the TAB were a major advertiser with us. Now they spend next to nothing, yet our readers represent their most dedicated punter," said Francis.
The statement said that over the past two years The Informant had shown substantial growth as the independent voice of the New Zealand racing industry. Print subscribers were up 100%, online subscribers up 30% and retail sales up 50%.
"These numbers are underpinned by a new look and a renewed focus on quality independent journalism that appeals to the passionate nature of racing stakeholders and followers," said Francis.
"We are proud that we have contributed to a recognition that things need to change for our racing industry to survive as evidenced by the Messara report. Unfortunately, like for many others in the industry, that change isn’t coming fast enough.
"This decline isn’t simply a mirror of the challenge occurring in other print mastheads but a direct reflection of the state of the New Zealand racing industry. There are less new farms, studs and stallions as evidenced by the challenge seen at our major sales and foal crop, while more and more young trainers are leaving New Zealand for Australia rather than starting to syndicate horses at home.
"The Informant, like so many stakeholders who try to make a living in the industry but face a harder task each day, has continued to try to hang in there because of our absolute love of the sport. But we cannot any longer.
"We hope all stakeholders will continue to stand up and demand that those in power deliver on their promises for positive change, even though we can no longer lend our voice to this."