By next month, Toronto Public Library users will begin noticing advertisements on the backs of their date-due slips. The announcement comes a little more than a year after the TPL started looking into selling ads to make up a $3.9-million budget shortfall.
The new advertising program will be run by Receipt Media, a Toronto-based company mainly involved in soliciting ads for supermarket receipts. The company’s TPL campaign states that advertisers will be charged $8,000 for six months of full-colour, business card-sized messages, and $15,000 for a year.
The Toronto Star reports that Receipt Media will pay for the library’s slip paper in exchange for the right to sell ads, generating $40,000* annually for the TPL.
The idea resulted from a November 2011 meeting in which the TPL explored money-making options. In February 2012, the library board approved two requests for proposals: one to search for a company to sell ads; another to find a consultant to come up with other advertising opportunities.
Previously, the TPL has run ads in its What’s On publication — generating $30,000 in 2012 — in addition to sponsored* programs such as the TD Summer Reading Club.
The library also announced last week the launch of a Retail Affiliate Program, allowing customers to purchase books via its website, with the TPL retaining a portion of sales.
Correction, March 12: A previous version of this article stated the revenues for the six-month pilot period. In addition, the TD Summer Reading Club is a sponsored program, not “ad-supported,” as previously reported.