Thinking Outside The Box – The Press

Newspaper Paywalls

Image: Salvatore Vuono / FreeDigitalPhotos.net

I have just read that the Guardian online has 37 million unique users, firstly wow! A third of those are in the US. In order to build up this huge reader base they have spent the grand total of $34,000 on marketing. Rupert Murdoch on the other hand has announced that his newspapers including the Times, New York Times etc… will have paywalls meaning that content cannot be accessed without payment. Far be it from me to doubt Murdoch’s business model but it seems to me that he is driving a car in reverse gear.

Now when I used to buy the Guardian regularly their reach was 400,000 readers. Newspaper reading stats are falling off a cliff. I used to get the Sunday Times but stopped because of logistical reasons, small children and attention grabbing , these days I wouldn’t dream of buying it and it is not a political issue it is a comfort issue. If I want news it is much more immediate on the web.

The world of the press is changing of course. The question is how is your market changing? As an entrepreneur you need to look at opportunities in your market. The Guardian and News International are responding in different ways but at least they are responding. Statistics suggest that the last newspaper in the States will close by 2040 at the latest. The Apple Tablet that will be announced tomorrow might well hasten the demise of printed news.

In the Real Estate Market where I work of course, the decimation of the market has been huge in Spain. It is estimated that between 70% and 80% of agencies have closed down. How do you react to carnage like that? Many estate agents have simply sat on their hands and continued to do the same things in the same way. Can this work? Obviously not. Entrepreneurs need to innovate, change and differentiate. Your market may not have 37 million unique users, how many have, but equally even if you have only 37 customers you must ask the question; How can I best serve my market today? If you ask the question and then act on it you have a much greater chance of success.

Related Reading

1) Guardian Editor on Paywalls

2) Paid content the only way forward

3) Ethical Entrepreneurs

Originally posted 2010-01-26 10:46:01. Republished by Blog Post Promoter