Ever since Craigslist seemingly put an end to the local newspaper by singlehandedly killing off the traditional classified ad, commentators have been sounding one for the print media space. Somewhat perversely, in my view, print titles have even run stories on this very issue as if in defeat at the onward march of digital media at the complete expense of the printed word.

However, I put it to you, that this position is wide of the mark, and the real key is how the two can live side by side, each successful in their own way from a revenue perspective AND a customer satisfaction.

I will focus my points of view on the following areas — adapting to an asymmetrical business environment; the fact that people will pay for content where there is value in it; the opportunity to identify a niche, and own it; upscaling the professionalism of content.

It is impossible to underestimate the impact of the Internet in changing the way companies do business. Taking the magazine and newspaper industries as our main example, to launch a new publication would traditionally have required significant capital expenditure — printing presses, office space, distribution and staff.

All of this is before even securing advertising revenue to actually cover the costs. Although at least the playing field was level — every competitor faced the same hurdles — the challenge lay in creating the most compelling content that would not only appeal to readers, but those who could pay for space in the particular title.

Slowly but surely the digital revolution changed this — it changed the way pages were printed. Today Dubai is home to most state-of-the art printing equipment, but the real game changer was the ability to provide content that people wanted to read, but with the ability to create it from a bedroom, or a small office without the headache of distribution or significant equipment purchase. Those print publications that understand this and can rise to the occasion will be the ones that can compete over the long term.

But quality is the driver of success, not just the ability for consumers to access content.

In my experience people will pay for content when there is a value in it, and also where it is available. Very often free content is accessed due to its availability, and the lack of an alternative.

Reaching new audiences

There is a reason why the major print outlets invest in an online platform as well as maintaining a traditional print format. In fact, the Internet provides an opportunity for them to expand the scope of their content in a way they never could with just print. By its very nature, print has to cater to as broad a base as possible if, for no other reason, than to secure the advertising revenue that keeps it afloat.

However, by leveraging a publication’s reputation for professional journalism, it can reach new audiences with more specific content, without necessarily dominating the focus of the publication or diluting the core values. Again, we can thank asymmetry for this.

Before digital media, newspapers only had each other to compete with, but a news website is not only competing against other news websites, it is competing against every other site on the web for our attention.

Quality has to remain a key focus – take the Financial Times as an example. It prides quality of content over everything else and it has an online model that has adapted to the pressures of the modern marketplace, by giving away some content for free, and then charging for the rest.

People will happily pay for it, as they know that not only are they getting access to quality editorial but also additional benefits such as being able to connect with like-minded peers through forums and also events and conferences.

Regardless of how level the playing field, if you are not providing a product or service that people want, then you aren’t going to survive in the modern business world.

The democratisation of content through the Internet means that there is much more to choose from — not all of it is good, but some is. The same is true for print media, where quality will shine through alongside the best content available online.

The lines between the two are blurring, but that does not necessarily mean that one will win and one will fail — simply that new competition breeds new opportunity.


— The writer is executive director at International Media Production Zone, a component of Dubai’s Tecom Media Cluster.