Many Consumers Willing To Pay For Online News
Even with a global recession, newspapers have a long-term future, according to a new report by PricewaterhouseCoopers and the World Association of Newspapers.
Despite the potential for growth online, print remains the largest source of revenue for newspaper companies and will continue to be so for some time.
Consumers are willing to pay for online content, with two-thirds indicating they would pay for general news content online.
General consumer spending on the Internet will increase in the next few years, and this will change the mindset of consumers who are now expecting to get everything for free.
Traditional newspapers still have a strong and generally loyal reader base, as their reliability is perceived as being greater than other media. This gives newspapers the chance to lead and to follow audiences as they use online and portable media devices.
Newspapers have responded to the economic downturn by focusing on cost reductions. Many are also accelerating content distribution strategies over many channels.
"However, many have still to fully review their existing business models to take full advantage of the innovation in the marketplace and the demands of consumers," the report says.
The PwC report is based on surveys of 4,900 consumers in seven countries, interviews with major publishers, advertisers and media buyers around the globe.