Posts Tagged ‘Australian Financial Review’
Duelling imperatives![]() So, the National Business Review has decided to (partially) monetise its interweb presence. In a rather petulant letter, publisher Barry Colman takes aim at the enemies of journalism and backs his team to be able to make a paid content model work where very few have done so before, and never in such a tight and competitive media ecology as we have in NZ.
Good luck to them. Unfortunately, blaming competitors (yes; bloggers are competitors for reader time and attention) for the (slow) failure of one’s business never made the business suddenly work better, and this sort of competition-blaming is typically the refuge of people who believe they have an ordained right to profits. As Dan Conover says:
(Conover has links in his post, which you can follow if you go there. He was a newsman; now he’s a blogger. Go figure.) Blame anyone except the industry itself for failing to sufficiently move with the market. But perhaps that’s what Barry Colman thinks he’s doing. There are good reasons behind the decision, chief among which is the importance of maintaining a strong and well-resourced newsgathering apparatus. He’s aware that a move to a pay model needs to be accompanied by a dramatic increase in quality, and posits the fairly reasonable idea that people will pay for it. The trouble with artificial scarcity is partly highlighted by Cactus Kate:
Good question. If you withhold your best content from the market, you’re cutting off your nose to spite your brand. The imperatives which drive your business conflict: you want to put your best content in front of as many people as possible because it’s the best content (not the ordinary content) which drives your readership and reputation; by locking it away, you hide your light under a bushel so few people know about it, and even if people chance to find out about it (from those relatively few who do have a subscription) then they can’t access it anyway. This is not the way to become a news or commentary source of record. And if you don’t, And if you don’t put your best content up there, then what are you offering again? At best it seems like this model will rob Peter to pay Paul – that is, the NBR’s ordinary content (and readership) will suffer for the benefit of those few subscribers. This is also what online commenters the NBR site seem to think, and online opinion is predictably scathing. There has to be a better way. Edit: I should add that artificial scarcity can potentially work if the content is strong enough. Fairfax’s Australian Financial Review is probably the best daily newspaper in Australasia, and because of its exceptional content, extremely strong commitment to journalistic practice and authoritative market position it is able to dictate such strict terms of access that it causes major headaches for media analysis companies, archivers and researchers. The AFR has no real competition, and that’s what enables it to call the shots. But the NBR is not the AFR – nowhere near, more’s the pity. L |