Tinashe Makwande, publisher at 24.com, Media24 Newspapers, spoke about his key takeaways from the INMA Media Subscriptions Summit in London. The different needs of content-driven and customer-driven models — and how those models are shaped and formed — were front of mind for Makwande.
Industry changes include the “movement away from platform-based products” to a “user-experience-based product — what do you like to consume and how do you like to consume it, rather than where you like to consume it,” Makwande said. “Consumers like to make those decisions by themselves. We just need to show them what’s available for them.”
Insights on what audiences think about paywalls are also interesting to Makwande.
“A lot of the organisations actually did surveys and asked their own audiences how they would react to a paywall and how they would react to paying for news content. And I think that’s a very vital aspect of our research that you feed into the business model.”
Different sectors and regions of the audience have different cultures and ways they respond to paying for news content, Makwande said. “We can’t just take the same model in the U.K. and apply it in the U.S. and apply it in Africa. I think it’s got to be focused and it’s got to be very centric to that customer.”
For Makwande, understanding audiences and their psychological reactions to paying for content — if they would and why they would — is critical.