ASIA-PACIFIC - In an exclusive interview with Media, global media magnate Steve Forbes has indicated that his publications will not be erecting paywalls because he believes paid content will not translate into a "major source of revenue".
Forbes' intentions are a clear departure from the beliefs of adversary Rupert Murdoch, who is looking to introduce subscription fees on his publications both online and on mobile.
Forbes, who spoke to Media at the Forbes Global CEO Conference in Kuala Lumpur, says that advertising will continue to be the primary revenue source online. He adds that a distinction needs to be made between the outlook for newspapers and the outlook for magazines.
“We have some paid content for specific, specialised news letters, but we don’t think that paid content is going to be a major source of revenue,” Forbes says. “It will still primarily be advertising of one sort or another. Others may succeed in doing things called micro-pricing, but, unless the information is very specialised… it’s going to be difficult to have a model that’s just based on paid content.”
Forbes, who holds the role of president and CEO of publishing company Forbes Inc. and editor-in-chief of Forbes magazine, added that the recession has bolstered the role of digital for the media, and this is a change that will last.
To read more on Forbes, see Media’s Profile piece in its 22 October issue.
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