The newspaper: Not yet dead
"The newspaper is dead! Long live the newspaper," could easily be the title of our newest study on the future of the print publication. The authors argue that contrary to public belief, print media has an interesting future ahead.
Despite all claims to the contrary, the market for print media is still alive and well. Although the average circulation for all daily newspapers has decreased by nearly 20% over the past few years, there are notable exceptions.
German newspapers such as the "Süddeutsche Zeitung" and "Die Zeit" are defying the odds, having increased their circulation by several percentage points. According to a study titled "There's life in the old dog yet," print media can grow despite digital competition if they apply various success factors. First, newspapers must define their target group as precisely as possible, then rigorously align themselves to that group in terms of topics, language, design and sales. Special attention in this process should be paid to premium users, who are prepared to pay for print products and are also most attractive in terms of advertising.
In addition, there are numerous special interest niches that continue to offer attractive revenue potential. Print media can counterbalance its obvious disadvantages in staying up-to-the-minute through its traditional strengths: setting agendas, publishing opinion pieces, providing background information and context as well as offering a quality reading experience through optical and tactile pleasures. Aside from book and CD/DVD series, additional business can be generated through events, such as panel discussions, conventions, seminars, conferences, concerts, festivals and trips.
Despite all claims to the contrary, the market for print media is still alive and well. Although the average circulation for all daily newspapers has decreased by nearly 20% over the past few years, there are notable exceptions.
German newspapers such as the "Süddeutsche Zeitung" and "Die Zeit" are defying the odds, having increased their circulation by several percentage points. According to a study titled "There's life in the old dog yet," print media can grow despite digital competition if they apply various success factors. First, newspapers must define their target group as precisely as possible, then rigorously align themselves to that group in terms of topics, language, design and sales. Special attention in this process should be paid to premium users, who are prepared to pay for print products and are also most attractive in terms of advertising.
In addition, there are numerous special interest niches that continue to offer attractive revenue potential. Print media can counterbalance its obvious disadvantages in staying up-to-the-minute through its traditional strengths: setting agendas, publishing opinion pieces, providing background information and context as well as offering a quality reading experience through optical and tactile pleasures. Aside from book and CD/DVD series, additional business can be generated through events, such as panel discussions, conventions, seminars, conferences, concerts, festivals and trips.
Read the full study here:
"Even if multimedia competition through TV and Internet becomes increasingly tough, print media have their own unique strengths," says Alexander Mogg, Partner in the InfoCom Competence Center at Roland Berger Strategy Consultants. "Publishers now have to set the strategic course for the next five to ten years and exploit them."
Know your audience
Magazines and newspapers will be able to achieve lasting success in multimedia competition only if they really know their target audience and focus on the inherent strengths of print publications. "We see growth potential in the premium reader segment and in other niches," says Mogg. "The ability to fill a niche, strengthen the brand and improve competence in innovation will be the decisive factors."
Rigorous orientation toward the target group and the alignment of the medium, the reader market and advertising strategy as part of an overall publishing concept have a positive effect on sales. That's because premium customers are ready to pay good money for high-quality offers. And premium customers are especially attractive to advertisers. "Especially for image ads and premium segments, print media will continue to be an attractive environment despite online competition," says Mogg.
Know your audience
Magazines and newspapers will be able to achieve lasting success in multimedia competition only if they really know their target audience and focus on the inherent strengths of print publications. "We see growth potential in the premium reader segment and in other niches," says Mogg. "The ability to fill a niche, strengthen the brand and improve competence in innovation will be the decisive factors."
Rigorous orientation toward the target group and the alignment of the medium, the reader market and advertising strategy as part of an overall publishing concept have a positive effect on sales. That's because premium customers are ready to pay good money for high-quality offers. And premium customers are especially attractive to advertisers. "Especially for image ads and premium segments, print media will continue to be an attractive environment despite online competition," says Mogg.
Print media have clear strengths – you just can't curl up with your computer screen like you do with your hefty Sunday paper. People still love the occasional ink stain on their hands, despite the internet's speed of information delivery.
A print newspaper also has advantages in terms of content: Readers can consciously set aside time in their day to enjoy its longer feature articles and in-depth reporting. Print products offer continue to allow for greater agenda setting, background/context information and Op-Eds. Nevertheless, the smart editorial staff creates synergies between to two, leveraging the unique advantages each side brings to the table in terms of content - this is particularly relevant when traditional potential for cost cutting has already been largely exhausted.
Increasing customer loyalty
Young people especially need to be introduced to print media. Investing in brands therefore pays off, because strong brands are becoming more and more important in an increasingly diverse media landscape. Possible ways to do this include building so-called "worlds of experience" around events such as conventions, seminars and trips relevant to that particular age group. They not only spark interest, but also represent the next level in profitable spin-off products including CDs, DVDs or even more far-flung ideas, such as branded wine collections.
"The media market will remain dynamic," Mogg concludes. "If publishers are ready to make changes and experiment with new offers, they will be able to maintain their position in this market or even expand it."
If you have questions or comments, please do not hesitate to contact us_:
A print newspaper also has advantages in terms of content: Readers can consciously set aside time in their day to enjoy its longer feature articles and in-depth reporting. Print products offer continue to allow for greater agenda setting, background/context information and Op-Eds. Nevertheless, the smart editorial staff creates synergies between to two, leveraging the unique advantages each side brings to the table in terms of content - this is particularly relevant when traditional potential for cost cutting has already been largely exhausted.
Increasing customer loyalty
Young people especially need to be introduced to print media. Investing in brands therefore pays off, because strong brands are becoming more and more important in an increasingly diverse media landscape. Possible ways to do this include building so-called "worlds of experience" around events such as conventions, seminars and trips relevant to that particular age group. They not only spark interest, but also represent the next level in profitable spin-off products including CDs, DVDs or even more far-flung ideas, such as branded wine collections.
"The media market will remain dynamic," Mogg concludes. "If publishers are ready to make changes and experiment with new offers, they will be able to maintain their position in this market or even expand it."
If you have questions or comments, please do not hesitate to contact us_:
More news:
Act – don't react!
It seems as if the bad news never stops: As central banks inject billions into the markets to offset... >>
Growth strategies in the media...
In the past few years, the print media industry has had to cope with widespread drops in sales and... >>
Roland Berger study on the...
93% of the Germans want individualized healthcare services. Health insurance companies, doctors and... >>
Pharma at the crossroads
Times are getting ever tougher for pharmaceutical companies. New registration procedures and the... >>
Companies are edging out...
The daily newspaper reports on the mergers and acquisitions market, quoting Gert Sievers, Partner in... >>
Cash-shells left stranded by...
The financial paper reports on the IPO of the first German special purpose acquisition company... >>
