"The greatest opportunity for growth at News Corp is to capitalise on the consumer's willingness to pay for valued content,” Michael Miller, executive chairman of News Corp Australia told the Mumbrella360 conference in Sydney.
Much like other major newspaper publishers around the world, News Corp has seen a shift in its revenue model in recent years. Instead of relying on advertisers to buy print ads, subscription dollars are finally starting to trickle in. This is particularly true for News Corp’s national newspaper, The Australian.
“For The Australian, the majority of our revenue will come from what consumers pay for rather than what advertisers will pay for. That has been a trend for papers around the world. It's also happening in our regional papers and our community papers”, said Miller.
One such example is the Coffs Coast Advocate, a free local newspaper in northern New South Wales, published by News Corp. Miller said: “We're now charging for that website and we're getting about 10 to 15 subscriptions a week. Go figure, but that's where the balance is turning.”