Date

Sun - 20.04.2014


Business

“Starting a print newspaper in an emerging market can be profitable,” said William Pike, CEO of Kenya’s The Star . It is a lot of hard work, he said, but from its foundations in 2007, The Star is now the third paper in the Kenyan market and has made a small profit.

Many say that as mobile adoption rises in Africa, it will threaten print, as online has in many other countries, but Pike thinks this view should be seen with a critical eye. He was speaking at the 19th World Editors Forum in Kiev last week.

“We believe that there is still a great market in print,” he continued, with just one paper published per 140 people in the country (in comparison to one per two in markets where readership is highest.) Young people still want to read newspapers, and he highlighted research that showed that more 18-34 year olds read newspapers than go on the internet, or listen to CDs. TV and radio still provide a larger threat than digital.

The Star is a subsidiary of Radio Africa, which operates both Kiss FM and Classic FM in Kenya. Its aim is to be low-cost but high-quality. It breaks big, hard-hitting stories that have an impact on the community, and Pike cited this as an essential quality for success for a new paper. It is also important to be analytical with good op-eds, he said.

Author

Emma Goodman's picture

Emma Goodman

Date

2012-09-13 17:01

After three years as chief digital officer at News Corporation, Chris Miller has announced his departure from the company, effective as of next month. Miller seems to be parting on good terms and will, according to a News Corp. press release, continue to work “as an outside advisor [to the company] on digital issues through fall 2013.”

Having been drafted into the company in 2009 to reinvigorate News Corp.’s diverse (and struggling) digital assets, a key part of Miller’s role was making digital a priority across the company’s numerous news divisions. During his tenure, Miller oversaw the introduction of a paywall at the Times of London and the Wall Street Journal and was a leading force behind the initiative to incorporate the use of video in News Corp.’s traditional news publications. As a result, reporters at the WSJ are now trained in using video functions on their smartphones.

Author

Amy Hadfield's picture

Amy Hadfield

Date

2012-08-24 14:27

The first blow came on Monday, when the estate of the late billionaire Sidney Harman, which co-owns the Newsweek Daily Beast Co with IAC/Interactive Corp, officially announced that it would no longer be investing in the loss-making venture.

The second landed yesterday, when IAC’s Chairman Barry Diller let slip during a quarterly earnings call that “the transition to online from hard print will take place,” ostensibly giving this fall or sometime next year as the point by which the company would have come up with a plan to bury the 79-year-old weekly print magazine, transforming it into a web-only presence.

Naturally, this drove the Twittisphere into a frenzy, with some commentators more bereaved by the alleged news than others:

Author

Emma Knight's picture

Emma Knight

Date

2012-07-26 18:15

Brian Bonner, Chief Editor of the Kyiv Post, will be moderating the joint World Newspaper Congress/World Editors Forum session titled "Winners shaping the future - How some newspaper companies are succeeding and leading the way" at the event in Kiev in September.

Bonner is an American journalist who has been with the English-language weekly since 2008 as its chief editor (and once before in 1999). In the USA, he worked mainly for the St. Paul Pioneer Press, the second largest newspaper in Minnesota, for more than 20 years. He also has worked for the Organization for Security and Cooperation in Europe as an election expert and for the Campaign for Tobacco-Free Kids in Washington, D.C., as associate director of international communications.

WAN-IFRA: The web site [http://www.kyivpost.com ] is in both English and Ukrainian/Russian. But the printed paper is in English only. Why the dichotomy?

Author

Anton Jolkovski's picture

Anton Jolkovski

Date

2012-06-27 14:57

As news organisations go digital, asking what kind of information people will pay for online is the new industry’s million-dollar question – or indeed multi-billion dollar question. Many in the business say that it is an uphill struggle to get people to pay for information itself, when it flows so freely online. Instead many media outfits focus on selling analysis, packaging and a good user experience.

The big exception is that users and businesses are willing to pay for financial information. As paidContent noted earlier this month, Bloomberg sells financial data to around 300,000 global customers for about $20,000 a year each.

Now GigaOm has profiled a Swedish start-up that is also making big bucks (although not on the same scale as Bloomberg) from selling business information. Mancx describes itself as a platform for “Business answers you can’t get anywhere else”.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-06-12 18:10

The UK’s National Union of Journalists is facing a “severe financial crisis,” according to a memo, written last month by the union’s general secretary Michelle Stanistreet.

In the memo, Stanistreet outlined the cuts that would be necessary in order to get the union back on track financially, including a £400,000 reduction in payroll costs and nine staff being made redundant. However, Press Gazette reports today that the union is now facing a “grassroots revolt” from members who don’t want to see the cuts go through.

According to the Stanistreet’s memo, the NUJ is suffering from a drop in subscription income, a crisis with its pension scheme, pressure on its members from the problems facing the journalism industry, and a reduction in assets and reserve cash as a result of “successive deficits.” “This combination of factors mean we have to take action,” writes Stanistreet, “sitting back and doing nothing is not an option.”

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-06-06 19:04

What’s next for Bloomberg LP? A long report by Gabriel Sherman for New York Magazine offers insight into the inner workings of financial media giant, owned by New York Mayor Michael Bloomberg. The article describes Bloomberg LP’s style up to this point as plain, and facts-obsessed, and “wildly profitable”. As paidContent observes, the company makes money by selling detailed financial information to 300,000 global customers at a charge of about $20,000 a year. However, Sherman writes that as Bloomberg diversifies beyond its core business, it is finding that the same model of nothing-but-pure-information journalism does not always apply. 

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-06-05 16:40

We don’t need any further proof that the digital publishing age is upon us. But if we did, two recent news stories highlight the trend.

Last week The Next Web reported on a talk given by the managing director of the FT.com Rob Grishaw, who predicted that by the end of 2012, the Financial Times will have more digital subscribers than it sells print copies. The article notes that the FT currently has 285,000 online subscribers, compared to a print circulation of 310,000.

The Next Web also notes the money that the FT makes from digital subscriptions is set to overtake its ad income this year. The article credits the FT’s digital success to its early commitment to online news: “Not only did the newspaper venture earlier than others into online content, but it also took a bold approach by betting on subscriptions, rather than free content,” writes The Next Web.

The Financial Times is not the only company showing a full commitment to multimedia publishing. Roy Greenslade at the Guardian reports that The Newspaper Marketing Agency, an organisation dedicated to promoting newspaper advertising, has rebranded itself as “Newsworks”.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-05-21 18:01

Big changes are taking place at Johnston Press, after the publisher’s CEO Ashley Highfield promised last March to make the company a “digital first” entity. “We’re going to flip the model from newspaper-first every day to digital-first, and you take the best and produce a bumper weekly in print. By 2020, that will be the model,” he told paidContent at the time.

In April, Johnston Press announced plans to re-launch all of its 170 paid-for titles – with the exception of The Scotsman, Scotland on Sunday, The News Letter and The Yorkshire Post – as “platform neutral” publications. As previously reported, the changes began with the decision to re-launch five Johnston Press daily papers - Northants Evening Telegraph, Northampton Chronicle and Echo, Halifax Courier, The Scarborough Evening News and Peterborough Evening Telegraph - as online publications with a weekly printed edition by the end of May.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-05-21 16:36

Yesterday, billionaire Warren Buffett, revealed that his company Berkshire Hathaway is buying up 63 Media General newspapers for a total of $142m. As the Tampa Bay Times reports, a $400m loan and $45m in credit to help Media General pay off its debts are also part of the deal.

The sale is quite a turn around for the man who famously said in 2009 that he would not consider buying most papers in the US “at any price” because “they have the possibility of going to just unending losses.” And it has certainly raised some eyebrows. “Maybe he something we don’t…” begins the Business Etc article on the deal.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-05-18 18:25

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