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Only online media with loyal readers can charge customers: PwC
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PricewaterhouseCoopers (PwC) Southeast Asia media consulting leader Michael Graham answers questions during PwC Global Entertainment and Media Outlook 2017-2021 in Jakarta on Aug. 3.
(JP/Anton Hermansyah)
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ricewaterhouseCoopers (PwC) Southeast Asia media consulting leader Michael Graham has said that digital media monetization will only work if the media in question already have adequate loyal readers, who regularly visit their websites.
"Part of the challenge is that you have to build up enough loyal readers […], where people will return and return and you know what they are doing on your property," Graham said during the PwC Global Entertainment and Media Outlook 2017-2021 in Jakarta on Thursday.
He explained that the loyalty could be built through fan bases: either loyalty to certain editors, to journalists, to topics or to segments.
In the United States, there are couple of newspapers that pay their journalists based on the number of readers, not the number of words, Graham added.
The newspapers have key performance indicators -- the growth of readership and the time spent by readers on certain content.
Another issue is the ease of transactions, said Graham. He explained that many media, which had put up paywalls, suffered from financial problems because of payment complexity as the media require customers to have credit cards; or vouchers or to pay online.
"You can remove some of the friction, so you end up using micropayments or you end up using crypto currency, then you will see a resurgence in people willing to spend money for good content," Graham said. (bbn)
