- Jul 22, 2003
Do you think News24’s digital subscription service will be successful? Will it make enough money to be sustainable?
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I think we all used it as a convenience, but there's plenty options...I depended on news24 as my main source of local news but there is no way i am going to pay for news i can pull from numerous sources online, The whole paywall thing will backfire for them.
Those are mostly wired services. Media outlets like the Daily Maverick does premium editing. On the occasion News24 and The Citizen, and others, has a praise worthy investigative article, but all these are published in the press which will then release on the Press Reader a day or two later.I don't see why it should be profitable, you can always find the news repeated at another source...
They both have more intuitive subscription services, or insider programs, but not everyone is interested in those engagements. It is a very niche subscription, but these subscriptions do tend to turn into exclusive access (e.g. they publish gated opinion or investigative pieces only their closed community has access to which is then commented on or debated to be more precise).
I've wondered about that for a while now. The problem is that I have 3 favourite news sources. News24, Daily Maverick AND M&G. I just can't afford 230 per month.Do you think News24’s digital subscription service will be successful? Will it make enough money to be sustainable?
I don't think pursuing pay walls are a viable solution, unless you want a closed-community. Some media outlets already went the exclusive route like The Daily Maverick, but those same articles appear a day or two later in the Press Reader in any case. In my perspective online ads needs to be overhauled. Generally people don't like to pay, it is how the world is and it won't change and is leaning more to some utopia with peoples 'wants' that I don't even understand. The best solution is to pursue less intrusive ads.
Linking is a good option, to earn commissions, but then your product needs to accommodate said linking which isn't easily accommodated by media outlets unless they also do reviews. A product like, PC Parts Picker, nailed this, but they do so by adding value to their links and their website is build around this. In SA we don't really have any well-structured online commission models, maybe Amazon will change this when they e-market here.
People also don't like to be added to mail subscribers, and with PoPI looming about this will also need to be accommodative. It can already be done in line with GDPR, to give people the option to not be remembered.
Many companies are suddenly running to YouTube to host podcasts. You still need to promote those videos elsewhere to make them more visible, and most companies don't know how to do this. There is also a trend which I am not going to discuss here as I am in the process to develop a business around this concept - It isn't unique, but it is a niche here.
When it comes to media, many people are in the opinion that media houses are picking up news on social channels. Yes, they do, it is their business to report, but that is but one mere method. Any media house worth their salt have discovery and investigative teams, and this costs money. Legal teams also adds to these costs. Social media is but a tool. People who claim that news outlets relies on social media is obtuse.