MANILA, Philippines - In the age of iPads, iPhones, Blackberrys, Twitter, Facebook, and addresses ending with .com, it may appear to some that print media is on the decline. However, some sources argue that print media is here to stay and in fact, continues to thrive. What is really going on with print media these days? Three experts reveal different yet complementing and intermingling points of view.
Print media today
A few years back, those in print pondered what the future holds for the industry due to the growing cost of production, a decline in readership –– especially among the youth, and fickle relationships with advertisers.
According to Carole Sarthou, managing director of Synovate, a global market research company, “Print media is still alive because it has its own purpose and benefits as a medium.” Citing a joint presentation with another research company at the first-ever Print Media Congress, she shared, “Basically, we said that print remains focused on its target, which is reaching its audience. There are specific benefits with print, and there’s more consumer engagement, which means that based on the studies that we did, we know that when people watch TV or listen to the radio, there are still other things that they could be doing. It’s actually the internet that gets the most attention because when people go online, it’s for a specific purpose. They’re pretty focused on it.” However, next to the internet, print is the medium that gets the most focused attention from people.
As for harnessing a stronger presence in Asia, Christoph Riess, CEO of the World Association of Newspapers and News Publishers (WAN-IFRA) has this to say, “Print media in several Asian countries are still enjoying double-digit growth, notably Indonesia, India and China. Economic growth and rising literacy levels are bringing more readers and advertisers to several Asian papers.”
Meanwhile, Sarthou adds that locally, readership of newspapers in general is actually higher than magazines mainly because it’s more accessible to the public.
“Newspapers serve all the information that you need,” she says, while for magazines, there’s more to grasp, it’s more expensive, and the topics are very specialized, which can be considered an advantage.
New media
For Sarthou, different forms of media, whether it be broadcast, print, or new media, are all complementary. “When people want real-time news, they go online, and the online news isn’t necessarily the one that you can find on print. One medium may drive another, that’s why you have newspapers with their corresponding online versions; it’s a new medium to access.”
When asked about new media, Miguel Belmonte, president and CEO of The Philippine STAR believes that new media, which includes The STAR’s online portal, www.philstar.com, is a big complement to the decades-old newspaper as it allows more people to access The STAR’s newspapers.
For the media mogul, print media in the Philippines is still very healthy and he is keen about focusing on how to further improve the company’s core products rather than rushing into the new media hype. “I think it would be a mistake to count us out even if everyone describes the print media industry as a ‘sunset industry’. The fact that 2010 was The STAR’s best-performing year in its 25-year history, and that 2011 is outdoing 2010 so far is a clear sign that the industry is still growing,” he said.
He adds, “The internet has been around for so many years and yet in terms of revenue it’s not really a big contributor whereas most, if not all Asian newspapers are still earning from our hard copies up to now. Print advertising in Asia is still growing. In most places, circulation is still growing. In fact, what’s limiting the growth of circulation is just the high cost of newsprint but otherwise, there’s still a demand.”
That’s not to say, though, that The STAR is not looking into new media. “If you ask me, I’ll say that the effect of new media to our present business is still minimal, partly because the price of these new technologies is [still] high. But I still consider new media as a valuable complement to the publication. In the future, I see it playing a more important role. At some point, everyone would have to be into new media or they lose the ability to compete. The time will come,” Belmonte says.
Riess shares a similar viewpoint when asked about how the emergence of new media is affecting print media. “The economics of new media is certainly impacting the print-centric publishing companies. Though digital advertising is growing rapidly and is slated to overtake newspaper advertising, the bulk of these revenues go to search companies and non-traditional media players. The revenue from banner ads and search advertising on media sites is not enough to cover the costs. Charging for online content today is a critical issue. However, I see the growth of new media as an opportunity for newspaper publishers to extend their reach and audience. As trusted brands in the community, newspapers that are able to continuously innovate and extend their brand affinity into digital channels will survive and grow,” he said.
Riess adds, “New media has developed into a very important tool to get news and get it very fast from different sources around the world. At the same time, media companies have to learn how to use new media in order to reach their readers. Therefore new media works as a complement for creating and validating good content. We should use them to strengthen our business.”
The business of print
While from a business perspective, print media is still thriving, it’s surprising to note that there has been a slow decline in readership based on figures of Synovate.
“Looking at over the past four years, there’s been a slow decline in print in general, though the decline is not pronounced among the 45- to 54-year-olds because they grew up reading.
According to Sarthou, people read newspapers for different reasons, the 25- to 30-year-olds look for job opportunities, while others like to keep abreast with current events and some enjoy reading about what’s new in showbiz or lifestyle.
When asked about the reading habits of the youth, Sarthou shares that readership among the younger set is low among Asian countries in general, but it is actually high in Singapore as well as in Hong Kong, where free papers abound.
“I think publishers just have to be constantly in touch with what readers or the general public like. There was a time when people liked sensationalized news. Later on, people started disliking it, saying that it’s already too much,” says Sarthou. Another thing that publishers and editors should watch out for are their personal biases. “I guess people tend to notice if a certain publication is ‘beholden’ to a certain politician. They have to watch out for that because media should always be neutral,” she added.
Belmonte has a similar response, “I think the most important thing for a newspaper is credibility and integrity. Like what happened with News of the World. When it was found out, the newspaper closed down after over 100 years in existence and the price of the mother company is also crashing. The individuals writing for the newspaper, their own image and how the public views them contributes a lot to the newspaper’s popularity so it’s very important to select who you’re getting or recruiting to write for your paper.”
Riess, who hails from Germany, has a similar viewpoint. “Regardless of whether you talk about newspapers or magazines, you have to make them relevant to the audience. Readers must have a reason to buy the product again tomorrow or to follow on their subscription.”
Where print media is headed
Belmonte believes that the future of print media lies in its ability to evolve and improve. “No matter how good you feel your paper is, there’s always some area that can still improve,” he said.
Sarthou has some practical advice: “[Just] continuously understand [what the readers want]. There will always be a new generation of readers. If a print media company believes that it is here to stay, then they should just look at what the public wants and give them what they want.”
As to what the future holds for print media, Riess gives a conservative observation, “The changes in our industry will continue. If you have the recognition of your society or if you have created a brand name for your company, then you are well prepared for the future. Observe developments in the different new media channels and try to use them for your business in the best way possible. Experiment with different methods and ways and don’t be afraid to stop activities that are not successful. Inform yourself continuously about what is new around the world, copy successful go-to-market models and adapt them for your specific readership,” he said.
While it really is too early to tell if print media will eventually become obsolete in our fast-changing world, the similarity between the points of view of our three industry experts reveal one thing: Print media will always be relevant — and thriving, as long as the public maintains its interest in reading.
Without an audience, what’s the point of producing newspapers? With so many new gadgets making our life more convenient by the second, it’s important to remember that while some things continue to change, time-tested traditions, like the habit of reading the newspaper, will always remain the same.