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14 Nov 2020  (549 Views) 
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Economy after the pandemic


The future for the media companies
The media companies are struggling.

Their revenue from the sale of newspapers and advertising are dropping. It affects media companies around the world. Singapore Press Holdings and its newspapers are affected in the same manner.

They try to get online subscriptions. Most of them failed to find the right formula.

What is their problem.

a) First, they set the subscription rates to be too high - close to what they charge for their print subscription. 

b) Next, they offer very attractive discounts for an initial period. They hope to attract subscribers and make it difficult for them to cancel their subscription.

This strategy does not work.

Some put in intrusive online advertisements - hopping to get revenue from these sources. 

This strategy does not work either. Their readers know how to ignore these intrusive advertisements.

What is the winning formula?

They have to learn from the success of the following:

a) Netflix and Disney Channel. They offer engaging content and a subscription rate that is "affordable".

b) Facebook, Google. They offer advertisements that are not intrusive or distracting.

I wish the media companies success in their effort  to move to the online channel.

Tan Kin Lian



 


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