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The world is an ever-changing place and the media landscape will continue to change in 2011. The touchstone is digital media and the immediacy and wealth of information it represents, he says. This presents significant challenges to more traditional media such as newspapers, which have to change with the times if they are to retain and attract readers, as well as generate advertising revenue.
While the rules of business have remained unchanged in the past two decades and business imperatives remain the same for publishers, the patterns of consumption have undergone a radical shift.
Thanks to digital media, people can read about what happened today, today, instead of having to wait for tomorrow. Newspapers thus have to focus on what will happen next, rather than what has happened, in order to remain relevant.
Media publishing trends
"People won't pay for it, because it's not unique and it is not professionally produced. If you need to make a serious decision, you will need more than your friends and fans to do so," he concludes.