A very small article appeared in the Sunday Sun today (29 June 2008) on page 3A at the bottom of the page. It served to notify Barbadians that as of 04 July 2008 the price of the Weekend Nation will be increased from $2.00 to $2.25 and the Sunday Sun moves-up from $2.00 to $2.50. By any measure this is a significant increase in the prevailing economic conditions. This increase comes after the Nation announced an increase in advertising rates in January 2008. It is no secret that the Nation Newspaper and Voice of Barbados currently corner the market according to the Systems Survey.
We are aware that with the increasing price of oil there will be the knock-on affect on production costs for most businesses. We are also aware that if most companies don’t find ways to reduce cost or increase revenue the focus on the inevitable will occur, lay-offs! The head honcho at the Nation Newspaper is an accountant by training and we have no doubt that this is where her training will expose the newspaper.
To date we have not discern any innovation in the product delivery that the newspaper has on offer. Was there an attempt to reduce the volume of newsprint by reconfiguring content? Is the Circulation Department doing anything differently to attempt to reduce the cost of distribution? More importantly does the Nation Newspaper plan to integrate the popular online edition into its business model in a serious way? From where we sit there is significant advertising dollars to be generated but who is the Marketing Manager? Is this person sleeping on the job? The easy approach is always to pass-on increases to the dumb Barbadian consumer.
This morning we came across an article in the Jamaican Gleaner (now there is a newspaper that is generating some online advertising dollars) which commented that Internet penetration was now at 55%. The startling revelation when compared to Barbados which measures 95% supports our point that the Nation Newspaper is not maximizing returns from their online edition.
The Nation Publisher Vivian-Anne Gittens should battle the demons which are driving her to be a bean counter and demand some product innovation from her staff.
To emphasize the point we made earlier about the opportunity for the media houses in Barbados to exploit the online option, let us now critique the Nation Newspaper sister company Voice of Barbados. Today we visited the blog The Observations of a Simple Bajan and the blogger dissected the Voice of Barbados Website with precision. We could not have done a better job. The challenge for any business is to find effective ways to use technology to enhance its business. Unfortunately the Nation Newspaper and VOB seem happy to milk the cash-cow side of the business and the Internet option continues to be regarded as the stepchild. The good thing about this state of affairs is that it provides an opportunity for competitors to gain a foothold on the Internet side of the business. Let us hope with the talk about radio licenses to be issued that the new entrants pursue this option.
Some members of the BU family may continue to ask why do we continue to be so harsh on the Fourth Estate in Barbados. The answer is simple. It is one of the most important Estates of the Realm. It should play an advocacy role on behalf of the PEOPLE. Any attempt to short change the PEOPLE should be of concern to the PEOPLE. We will have some more to say in the days and weeks ahead.
We may even ask the question who is the person in the media industry who has risen to millionaire status and who are the goats paying for it.
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