When it comes to monetising content, Akila Urankar, president of Business Standard Limited, says one of the primary challenges is increasing the funnel to get more audience members into it.
“Once you have a large enough funnel, then you will have people filtering through that funnel and you will get the guy who ultimately comes and pays for it,” Urankar said at the INMA South Asia Media Festival. “You need far more people coming in and consuming the content on your site, that’s the first challenge.”
If a news media organisation has well-researched, high-quality, deep content there are people who will pay for it, she added.
“We find that getting consumers to pay for it has not been such a challenge. We went [to a paid content model] two years ago and the response has been fairly positive,” she said. “There are consumers out there who are willing to pay.”
She acknowledged that these numbers are not very large in terms of scale, but it’s enough to create a sizable subscription base for Business Standard.
“Increasingly, you have to understand more and more what the consumer is looking for, and be able to repurpose content. And as time goes along, we are getting better and better at it.”