If this column were to continue till 2033, we would be asking the same question. Be that as it may, here’s Dr Bhaskar Das in the January 12 edition of Das ka Dum. Read on…
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Q. If people are willing to pay for content offerings like Ken or Morning Context, why are our newspapers so scared of upping cover price? Or is it that they are unsure of their content?
A. I must admit that even I wonder about that the same. Why no one acknowledges the Elephant in the Room: the business model plaguing the sector. With changing times, one needs to accept the criticality of high quality content that makes audiences decode a signal from the noise. And they are ready to pay for it, as you have rightly mentioned some examples. An over-dependence on advertising is an anachronistic model of running a media business which is getting affected by fragmentation of attention and format. This is resulting in inter-category migration of revenue. The old model of using low cover price as an entry barrier for new players is outdated in the context of Content as King and when consumers are spoilt with choices and loyalty has become fragile.
So, brand loyalty has to be earned in a sustained manner. I think success is a bad teacher and extrapolation of past success to future is a game that can’t be played anymore.
One can learn from Messi. Of course, Argentina, as a country, isn’t learning, let alone companies. Easier said than done. Business as usual is intoxicating.