Posted by: bigtalksingapore | September 13, 2008

Time for Singapore newspaper media to wake up.

I saw an article in “Today” newspaper that is pretty well written(Attachment #1).

I think that some of our Singapore media companies has been in a state of self denial for too long.
They may still think that printed newspaper and magazine will remain as the dominant forces in our society.
Recently, I read a report (In one of the local media) that said printed media will remain the main source of news for Singaporean (I forgot to cut out the report or I would have attached it here) .
Well guess what, your cheese have been moved.

I think printed media is already obsolete, the real question is how long can it last ?
Like what happened to Business Week Magazine (See Attachment #2).
I don’t really see a need for new readers to subscript to printed newspaper and magazine.

I will attempt to summarize the situation as followed.

Strength

  1. Some people may argue that they still prefer printed media because it’s something that they can hold in their hand and bring it everywhere they go.
  2. Printed media still command a higher advertising revenue compare to online media. But when less people buy their product, it’s only a matter of time that they can no more charge such high advertising fee.
  3. Some said that printed media is the most trust worthy source of information. I say that it is not total true. If you spend some time reading oversea (reputable) online media, you will find that occasionally Singapore media do not publish all the facts. There’s a saying that goes like this “Sometime, the greatest lies is the half truth”.

Weakness

  1. Strength #1 may be a true for some people, but I find it troublesome to carry extra newspaper around. Especially when the ink on the paper fade off and turn my finger black.
  2. Printed media has a supply constraint. They can only produce so much paper copies with their limited printers. Online media on the other hand run on different economic law. Its supply is virtually unlimited.
  3. Printed media is not free (except Today and My Paper), online media is.

Opportunities

  1. The window of opportunities is closing fast and many oversea media have already established their standing in online news. The only market segment opportunities left for Singapore media is coverage of “Local News”. It would be difficult for them to compete in the international arena.

Threat

  1. In regard to Strength #3. Look around, there ‘re already so many reputable oversea media company that have gone online for so long.
    Example like BBC(http://news.bbc.co.uk) , CNN (http://edition.cnn.com), World News (http://www.wn.com) and many more. They even have nice and user friendly video streaming for lazy people like me.
  2. Time is a luxury for many Singaporean. People are reading less newspapers, magazines and books. New product like iPhone, HiPhone, PDA and handphone with online news features will ultimately prompt people to switch to online news while waiting (For bus, taxi, MRT or even while on the toilet seat).

The good thing is that there are some Singapore media that has switch over to online version, like Today (http://www.todayonline.com), My Paper (http://mypaper.sg), 新动网 (http://www.xin.sg/index.php), Omy (http://www.omy.sg)and Razor TV (http://www.razortv.com.sg).

Though, I still don’t like Singapore online streaming video cos it is not user friendly. I prefer the CNN video where they categorize the news and allow you to add it to a playlist.
Once your playlist is full (Maximum 15 news clips), you just sit back, relax and play the whole sets of 15 different news at one shot.

Attachment #1: Today, 13 Sep 2008, Page 8


Attachment #2: My Paper, 19 Aug 2008, Page A15

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