THE CHANGING FACE OF NEWS

Earlier this week I wrote about changes to one of our publications. Yesterday saw the last time that our daily (Mon-Fri) newspaper will appear in print; as from today it will be an entirely online publication.
This newspaper has been established for more than eight years although it covers a very niche sector - the Stock Exchange of Thailand and those who invest in it or work in related industries. The simple fact is that print, in terms of this sector, is no longer an effective way to reach readers. Often the newspaper was out-of-date the moment it was printed. That was especially the case in recent weeks because of what's been happening on the New York markets. Advertising was an issue too; we've seen print advertising declining whereas online advertising is increasing.
I did spend a lot of time looking at redesigns and different business models but nothing changes the fact that online is the future for this publication. Thailand will see some big developments in the infrastructure of the Internet during the coming years and we'll be ready to take full advantage.
This newspaper is far from dead; it's evolving and by moving to a totally online publication we're mirroring what has been happening elsewhere around the world, and at the same time we'll be giving our readers faster, more in-depth and more global coverage. That sets us apart from everyone else, and I am already negotiating with several overseas publishers to get exclusive rights to their content in Thai.
Knowing what I know about the publishing industry in Thailand, it's hard to see how the majority of publications are making money. Advertising is almost given away, sales through the news trade are poor, print costs and increasing and the distribution methods are, well ... don't get me started on that.
I wrote before than change can be seen as a negative thing, but this change is certainly a positive and very exciting one as far as I am concerned.