Asian Media mogul sees bumpy future for newspaper industry
Posted by Simon Day on June 25, 2009 at 10:04 AM
On Wednesday media businessman Jimmy Lai spoke to
foreign journalists on the uncertain future of newspapers and the
failure of unsustainable model of free Internet content, AFP
reported Thursday.
Lai, the owner of the Apple Daily in Hong Kong and has newspapers in Taiwan, fears for the relevance of newspapers to a generation dominated by new technology and said the industry is confronted by a "problem of survival."
Lai, the owner of the Apple Daily in Hong Kong and has newspapers in Taiwan, fears for the relevance of newspapers to a generation dominated by new technology and said the industry is confronted by a "problem of survival."
Lai advocated an online change to charging for content on the Internet.
"We have got to charge for something. This is not social work," he said.
"I do not know how Twitter or Facebook is going to make money. They are fantastic, but where is the money?"
Lai made his first fortune with the Giordano clothing chain, but got into newspapers and magazines following the military crackdown on the Tiananmen Square protests in 1989.
Lai entered the publishing industry following the events of the Tiananmen Square protest of 1989. Lai has managed to create one of Asia's largest media groups whilst maintaining stern criticism of the anti-Communist Party.
"We have got to charge for something. This is not social work," he said.
"I do not know how Twitter or Facebook is going to make money. They are fantastic, but where is the money?"
Lai made his first fortune with the Giordano clothing chain, but got into newspapers and magazines following the military crackdown on the Tiananmen Square protests in 1989.
Lai entered the publishing industry following the events of the Tiananmen Square protest of 1989. Lai has managed to create one of Asia's largest media groups whilst maintaining stern criticism of the anti-Communist Party.
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