Online Publishers Believe They Must Up Investment
Brands believe they must continue to pour money into online publishing in order to maximise their return on investment, according to a report from the Newspaper Society.
The report, entitled Investing Media Brand Equity Online, shows that the majority of publishers have invested up to 30% of their reputation in their online offerings over the last three years and are prepared to continue devoting time and money to new media ventures.
The study, which is the first to focus on the money invested online by trade, national and regional publishing groups, shows that newspaper and magazine websites strengthen core media brands, driving circulation and providing advertisers with a more valuable proposition.
Danny Meadows-Klue, chairman of the IAB, said: “The role of the brand is arguably even stronger in the digital world than it is in print. As newspapers compete for the time budgets of their audience and do so in a world where everything is only a click away, the power of the brand is clear.”
Online publishers claim to be making money from charging subscription fees for online content. They are also said to be moving beyond merely selling online advertising towards positioning themselves as gateways to local or professional communities, to support the cross-selling of services.
David Hoath, marketing director of the Newspaper Society, added: “The reputation and performance of publishers’ print titles and online offerings are increasingly dependent. Regional newspaper websites borrow from and contribute to the unique position of trust the printed titles hold in their communities. As the report confirms, these online products play an important role in driving print sales and building brand equity – both consequences which ultimately benefit the advertiser.”
Last month the Newspaper Society called on the regional press to evolve to keep pace with the changing needs of advertisers (see Regional Press Must Evolve To Keep Pace With Advertisers).
Newspaper Society: 020 7636 7014 www.newspapersoc.org.uk
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