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As Internet users become increasingly more tech-savvy, according to recent surveys as many as 40 percent of news seekers will first go to the Internet. This is a trend that is likely to continue and expand as users become more mature and in response to boosting demographics. The traditional media world has been impacted by this change leading to less advertising, while the European newspaper group Mecom is no exception, in its reporting of losses of GBP 19.7 million, down from prior numbers but still a disappointment.
Group head, David Montgomery, the veteran newspaperman and former News of the World editor, says Mecom is consequently using social networking in its attempt to expand its online presence, an addition to gambling. He says that his company must generate more money per consumer than basically the price of the newspaper, and that it must become less reliant on printed products.
With newspaper divisions in Poland, Holland, Denmark, Germany, and Norway, Mecom recently reported that while advertising revenue is down 2 percent in the first half of the fiscal year of 2008, circulation had gone up by 3 percent. In addition to this, digital revenues have soared by 36 percent.
Mecom Group intends to employ the use of more offers in each of the above countries, which will include books, CDs, DVDs, travel, home ware, tickets to entertainment shows, and other events as well as financial products, to boost its print and online readership They are also encouraging other online social networking attempts and gambling ventures.
At the present time Mecom Group has in access of 200 websites that are serving 24 million individual users. This represents an increase of 4 percent over the same period for last year. However, there are some real attractive expansion possibilities since its divisions are currently making only 4 percent of their revenues from online products.
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