The Straits Times was right in charging for online access, says the newspaper’s former editor. Cheong Yip Seng, who retired as editor-in-chief of the English and Malay Newspapers Division of Singapore Press Holdings, notes newspapers in other countries too are setting up paywalls now, just like The Straits Times.
But there is a reason why other newspapers offered free access earlier. They wanted to increase readership. The Straits Times did not have to do so because the Singapore newspaper like the Wall Street Journal – which also had a pay wall from the start – occupies a niche.
The Wall Street Journal and the Financial Times are the go-to newspapers for financial news. And if you want a lot of news about Singapore, you have to read The Straits Times. You may read other English papers such as Today, The New Paper and Business Times. But they do not give as much news as The Straits Times. It provides a “premium service”, says Cheong in his book, OB Markers: My Straits Times Story.
The Straits Times is, as he says, “virtual monopoly”. Its owners bought off the only competition it faced. Singapore Press Holdings (SPH) acquired a 40 per cent stake in Today from the broadcaster MediaCorp.Continue Reading