City AM, the free London business newspaper, has shut down its Friday print edition as it blamed a shift to home working among bankers in the Square Mile.
The publication said it will become digital-only on Fridays to respond to the shift in working habits and lower demand from advertisers.
Andy Silvester, editor of City AM, said: “As anybody can tell from the pubs and bars of the City, Thursday is the new Friday.
“With the world changing, and more people working from home on Fridays, it’s the smart move to focus on serving our readers online rather than in print.”
Research released last week by Placemake.io based on anonymised phone data showed a sharp increase in activity in city centres from Tuesday to Thursday, suggesting workers are choosing to stay at home on Monday and Friday.
In October 2021, City AM itself splashed the newspaper with the headline “Tuesdays, Wednesdays and Thursdays” as it announced that the City had gained a new acronym.
However, bosses insisted that the paper will continue to print on a Monday in a bid to reach “engaged” readers.
City AM has also felt the impact of recent rail strikes, which forced the company to extend its traditional Christmas print break into January.
Alongside rivals such as the Evening Standard and Metro, it is also contending with higher newsprint and distribution costs.
Despite this, City AM said the title was back to almost 100pc of pre-Covid circulation after returning to print in September 2021. The publication suspended its print edition in March 2020 and halved pay for staff a month later as the pandemic forced the UK into lockdown.
It has also started distributing in commuter hotspots further out of London in an effort to reach more City professionals. It currently reaches around 80,000 people per day.
City AM said it will now launch an extended Thursday edition featuring an expanded sports and lifestyle section.
It will also roll out new features for print and online, including a weekly long-read interview and daily notebook from high-profile City figures, as well as two new podcasts and three revamped newsletters.
Mr Silvester added: “There was plenty of scepticism when we brought back the paper in September 2021 – but we’ve been thrilled with the response, and the paper is thriving on the first four days of the week.
“London may be changing but City AM will remain right at the heart of it – both in print and online.”