A few months back, Radio New Zealand embarked on a bit of a public/private partnership and put its content on NZME’s iHeartRadio platform (before also snuggling up with MSN). Radio Rhema followed suit. And the National Business Review, which moved into online radio in February and added a personalised ondemand option in March, is the latest to add its name to the list.
Online media is largely fuelled by advertising revenue. And many believe this inherently parasitic relationship is inspiring a race to the bottom as publishers seek clicks and scale above all else. But the NBR is going the other way and focusing on growing subscriber revenue. And, as part of that strategy, it is getting set to remove all but one of the ads from its homepage.
Last year, NBR launched a new mobile-first website that publisher Todd Scott says involved thousands of man hours. And the new features keep coming, with a personalised online radio service set to launch soon and the offer of a free six-month mobile subscription for its corporate and SME IP subscribers and, soon enough, anyone in New Zealand.
Around five years ago, the NBR started charging for its online subscriptions, with its corporate IP subscription offer arriving on the scene around a year ago. Publisher Todd Scott says it’s now bringing in $1 million in digital subs revenue and it will be hoping for more after launching its redesigned website and a mobile-only offer over the weekend and also announcing plans to establish an NBR radio service.
Changes at Seven Sharp, OMD loses an experienced campaigner to MBM, Bruce Matchett leaves his Singaporean post, another Fairfax shift and the NBR announces its new front page tenant.
The shift to digital has disrupted many industries, but news media has been one of the most badly affected. So what are the options? And are any local publishers making money online? Sim Ahmed investigates.
Timing is everything in business and over the years Barry Colman, who has been publishing the National Business Review for 24 years, has shown that he has a deft touch. And, given the state of the newspaper trade at the moment, he may have just shown it again, selling the publication he bought from John Fairfax & Sons for $1 in the late ’80s to current chief executive Todd Scott, who will be the sole shareholder.