2019 has been a tough year for print media nowadays especially in Malaysia. Where we can see the worst affected when it comes to Industrial Revolution 4 (IR 4.0). We see that in the beginning, print journalism isn’t handling the digitalisation of content very well.
For example, most of newspaper/magazine has changed and create an online platform as they still remain traditional but not too many.
In order to print media survive today’s, they have to compete with each other as there seem not anymore become a choice for the businesses/customer to promote their product and reading sources respectively. They have to struggle to maintain steady revenue from their direct-to-consumer subscription businesses.
This is how printed media can survive on their own:
1. Evolving to serve performance advertisers
Print media are struggling to prove their value to marketers who know and love their content but need to prove ROI in more concrete. One of the things this industry can do is to use our first-party data to create some targeting and focus so we no need to think which target they have to aim.
2. Paid content
Print media do not convince too much to the readers in paying high for their content. What they have to do is attracted them back and applied it to building new businesses and developing new brands.
3. Brand safety
Print media seem not only brand-safe but brand-enhancing. The print company have to reinforce companies play for the long term so that they can survive much longer.
4. Revenue diversification
The print media company are defining for consumers and advertisers what real premium looks like, and they have a diversified model so they are not just waiting for something to happen in the advertising market, they have to compete against Facebook and Google on how they use various method of online advertising like Search Engine Organization or page ads and etc.
We see that for the first phase internet came to Malaysia in 1995, Malaysia does not seem important of it on that time but it seems to change rapidly in digital in 2010 an above as we have seen the advent of modern technology, and so on. Hopefully, print media may survival with the new creativity and idea so that they were trusted and still become a choice for the businesses and customer.