Newspapers

“The days of free Internet soon to be over”

A media mogul, and CEO of one of the largest media networks in the world, has recently announced his attention to start charging customers for access to his company’s newspaper websites.

With the advent of the Internet, many newspapers are losing subscription revenues as readers switch away from the traditional print format. They prefer to get their news on the websites instead, where identical, and more up-to-date, articles are available at no cost. Advertisement revenues are also dwindling with declines in readership. The decline in revenues and subsequent profits has caused many newspapers to go out of business.

While none of the newspapers owned by the aforementioned mogul have been liquidated, he agrees that they have been hit hard by making their content available online for free. The websites currently allow minimal advertising from outside sources and are supported only through subscription revenues from their printed counterparts.

Formerly doubtful of how successful charging for online content would be, the CEO is now re-considering his decision not to charge. The idea has been inspired by the business models of other newspapers, magazines and journals which have successfully charged for their content online, while keeping advertising to a minimum on their website. Of these companies, some magazines and newspapers have discontinued their print version and have gone completely online, charging customers for subscriptions. Others maintain a print version in parallel with their online versions, allowing print subscribers free access to the online version, but charging non-subscribers. Which of these particular courses of action will be followed is still undecided at this point.

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