The future of SPH Media - it isn't enough to be trusted
If it wants Singaporeans to pay for its journalism, the media group needs to break out of a 'staid monopoly' mindset and transform fundamentally to truly meet their needs.
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It has been more than 3 months since Singapore Exchange-listed Singapore Press Holdings T39 (SPH) fully transferred its media arm to the new SPH Media Trust (SMT), letting go of an increasingly less profitable business operating in a tough environment.
Since then, in the course of our work on audience strategy at The Business Times (published by SMT), we've come to realise the true scale of the challenges before this new entity.
Better-resourced social media giants have vacuumed up ad dollars, and consumers prefer to spend their money on online streaming platforms like Netflix.
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