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Comprehensive
SWOT
Analysis
on
Possible
Strategic
Discourse
Print-
Only
Strategy
Digital-
Only
Strategy
Mixed-
Media
Strategy
Strengths
·
Create
a
non-
diluted
magazine
brand
identity
within
a
specific,
niche
theme
among
female
consumers
·
Provides
for
`intimacy'
with
traditional
magazine
readers
·
Longer
`retention'
of
printed
magazine
issues
(printed
magazines
in
salons,
lifestyle
cafes,
offices
etc.
tend
to
be
kept
for
longer
periods
on
the
shelves)
·
Allows
for
`interactivity'
with
readers
·
Allows
for
deeper
participation
from
readers.
Readers
can
create
reviews
and
post
opinions
on
articles
etc.
·
User-
generated
content
(UGC)
from
readers
a
possibility
·
Allows
for
readers
to
better
`share'
good
articles,
creating
quicker
buzz
t
support
quicker
adoption
rate
·
Allows
for
instantaneous
feedback
from
readers
·
Suitable
for
high-
frequency
publications
(e.g.
weekly
issues
as
oppossed
to
monthly
issues)
·
Allows
for
the
dynamic
provision
of
screen
based
and
non-
screen
based
media
interaction
possibilities
·
Advertising
POV:
Caters
to
both
offline
and
online
consumer
decision
making
·
Increase
advertising
touchpoints
·
Pricing
POV:
Create
different
pricing
or
subscription
options
with
a
mix
of
offline
and
online
media
options
to
capture
greater
market
share
·
Caters
to
consumers
with
simultaneous-
screening
habits
·
Enhance
opportunities
for
user
engagement:
User-
generated
content
(UCG),
the
ability
to
garner
quick
feedback
and
reviews
from
consumers
etc.
Weaknesses
·
Face
head-
on
competition
with
established
market
players,
thus
imposing
limited
maneuverability
·
High
printing
cost
per
issue
if
printed
within
Singapore
(versus
the
cost
of
digital
magazines),
leading
to
higher
ATC
per
issue
·
Higher
ATC
per
issue
might
impact
cash
flow
positions
as
compared
to
a
digital-
only
strategy,
which
will
impact
creditworthiness
and
cost
of
debt
for
future
fundraing
activities
·
Continuous
activities
needed
to
ensure
continuous
online
engagements
in
a
fragmented
digital
marketspace
·
Fragmented
competitive
landscape
with
numerous
direct
and
indirect
substitutes,
from
blogs,
online
articles,
videos,
online
shops,
social
media
etc.
(monopolistic
competition
market
structure),
thus
require
significant
differentiation
and
initial
marketing
in
order
to
stand
out
·
Higher
start-
up
cost
needed
to
establish
both
the
offline
and
online
magazine
mediums
·
Might
only
create
diluted
engagements
with
consumers
if
both
offline
and
online
activities
are
not
sychronized
4
Opportunities
·
Ample
choices
of
distribution
channels
an
opportunity
in
Singapore
(high
concentration
of
possible
distribution
touch
points
like
convenience
stores,
lifestyle
stores,
kiosks,
magazine
stands
etc)
·
High
internet
penetration
rate
and
high
smartphone
device
adoptation
rate
in
Singapore
·
Young
consumers
belonging
to
generations
Y
and
Z
are
increasingly
web
and
app-
savvy.
Thus,
entering
the
digital
marketspace
will
allow
for
long
term
engagements
with
these
generations
·
Consumption
of
digital
media
in
Singapore
is
at
record
levels.
Two
thirds
of
Singapore's
population
aged
15+
(67%)
now
use
the
Internet,
29
points
higher
than
the
SEA
regional
average
of
38
%
(Nielsen
Research)
·
Establish
long-
term
consumer
engagements
form
the
very
beginning:
Internet
penetration
in
Singapore
is
highest
amongst
the
country's
youth
segment
(97%
of
15
to
19
year
olds
are
online)
(Nielsen
Research)
·
Reading-
on-
the-
go
for
busy
female
executives
will
become
a
possibility,
involving
both
smartphone
digital
engagements
and
paper-
based
printed
magazines
·
Other
unique
opportunities
arises,
such
as
the
usage
of
QR
Codes,
effectively
combining
both
offline
and
online
media
interactions
·
Opportunities
listed
in
both
the
Print-
Only
and
Digital-
Only
Strategies
apply
to
the
Mixed-
Media
strategy
Threats
·
Decreased
consumption
of
printed-
copy
magazine
subscriptions
possible
in
the
long
run.
·
Lower
barries
to
entry
as
compared
to
the
printed
magazine
industry,
making
it
probable
to
face
significant
competition
from
new
market
entrants
with
fresh
value
offerings
in
the
long
run
·
Decreased
consumption
of
printed-
copy
magazine
subscriptions
possible
in
the
long
run,
thus
impacting
overall
ROI
through
the
printed
magazine
business
side
of
the
equation
5
Further
Research
Direction
Compare
market
fundamentals
and
competitive
dynamics
between
Pan-
Asian
countries:
Singapore,
Malaysia,
Indonesia
and
Thailand.
Comparisons
may
include:
1. Comparison
of
the
printed
magazine
and
digital
magazine
market
size
in
terms
of
absolute
dollar
value,
publication
volumes
etc
2. Comparison
of
the
market
growth
rates
of
the
printed
magazine
and
digital
magazine
market
in
terms
of
dollar
value
percentage
growth
rate,
publication
volumes
percentage
growth
rates
etc.
3. Comparison
of
competitive
dynamics,
including
market
concentration
ratios,
market
share
of
major
and
minor
players,
qualitative
data
on
magazine
themes
and
consumer
sentiments
etc.
6
Singapore:
A
Hot
Bed
for
the
Propagation
of
Digital
Media
Products
Evidences
exist
to
show
that
digital
media
consumption
in
Singapore
continues
to
expand
rapidly.
According
to
Nielsen's
Media
Index
Report
2012
(Published
2
November
2012),
the
uptake
on
digital-
media
information
products
such
as
online-
newspapers
have
seen
a
general
YOY
increase.
42.7%
More
than
42.7%
aged
15+
in
Singapore
have
watched
videos,
movies
or
television
programs
online
(up
2.3%
points
from
last
year).
35.7%
More
than
a
third
(35.7%)
have
accessed
news
and
current
affairs/read
e-
newspapers
online
(up
4.3%
points
from
last
year)
on
an
average
monthly
basis.
72.1%
Combined
readership
of
print
and
online
newspapers
reached
almost
three
quarters
of
the
population
here,
with
72.1
%
having
read
a
daily
newspaper
-
on
an
average
daily
basis.
11.3%
Up-
take
of
digital
editions
of
local
newspapers
conversely
saw
solid
gains
in
the
past
year,
with
11.3%
having
read
a
digital
paper
on
an
average
daily
basis
(up
1.6%
points).
70%
Seven
in
10
digital
newspaper
readers
usually
access
digital
editions
on
their
personal
computers
or
notebooks.
40%
Mobile
usage
is
gaining
ground
with
4
in
10
reading
the
paper
via
their
mobile/tablet
devices.
"The
way
Singaporeans
read
the
newspaper
has
changed
and
now
takes
varied
forms,"
observed
Tan.
"With
increased
smartphone
and
tablet
ownership,
together
with
the
availability
of
Apps
from
papers
like
Straits
Times,
Today
and
the
newly
launched
Business
Times,
it
is
no
surprise
that
we
are
seeing
growth
in
digital
newspaper
readership."
said
Rebecca
Tan,
Managing
Director
of
Nielsen's
Media
business
in
Singapore
and
Malaysia.
The
predecessing
report,
Nielsen's
Media
Index
Report
2011
(Published
4
November
2011)
also
affirms
this.
36.1%
Consumption
of
media
content
across
multiple
screens,
including
computers,
smartphones
and
tablets,
is
becoming
more
prevalent
in
Singapore,
with
more
than
one
third
of
consumers
(36.1%)
having
watched
videos,
movies
or
television
programs
online
in
the
past
week
(up
6.3%).
16.6%
16.6%
read
newspapers
online.
2.2%
Internet
audiences
grew
by
2.2%,
with
more
than
two
thirds
(68.2%)
having
used
the
internet
in
the
past
week.
17.7%
Increases
in
social
media
participation
have
been
experienced
across
a
range
of
age
groups
including
baby
boomers,
and
17.7%
of
baby
boomers
are
now
engaging
in
social
networking
(up
8.9%)
and
17%
watched
movies,
television
or
videos
online
(up
5%).
12.4%
On
a
Past
Week
level,
12.4%
of
Singapore's
adult
population
now
read
at
least
one
of
the
eight
local
daily
newspapers'
digital
editions
(up
2.2%).
7.9%
The
digital
edition
of
The
Straits
Times
saw
increases
in
Past
Week
readership,
up
1.6%
to
7.9%.
2.3%
The
digital
edition
of
Today
also
saw
increases
in
Past
Week
readership,
up
1.0%
to
2.3%.
2.2%
Online
readership
of
Lianhe
Zaobao
and
Business
Times
remained
stable
for
the
period
at
2.2%
and
1.5%
respectively.
7
Strong
underlying
fundamentals
exist
in
Singapore
to
support
active
digital
media
consumption:
1. Rapid
technological
developments
improve
accessibility
to
digital
products,
while
reducing
costs
of
smartphones
and
social
media
technology
at
the
same
time
2. High-
speed
internet
access
made
available
country-
wide
3. Internet
and
WiFi
easily
accessable
across
the
country
4. High
ownership
levels
of
Smartphones
and
Tablets
in
Singapore
5. High
per
capita
GDP
and
disposable
income
among
Singapore's
middle
class
to
support
the
sustained
consumption
of
smart
technology
and
digital
media
products
These
macro
trends
are
being
affirmed
by
Nielsen's
inaugural
Southeast
Asia
Digital
Consumer
Report
(11
July
2011).
85%
85%
of
digital
consumers
in
Singapore
own
an
Internet-
capable
mobile
phone.
23%
23%
of
Singaporean
Internet
users
have
a
tablet
computer
in
their
home.
69%
69%
have
connected
with
brands
on
social
networking
sites.
67%
Consumption
of
digital
media
in
Singapore
is
at
record
levels.
Two
thirds
of
Singapore's
population
aged
15+
(67%)
now
use
the
Internet,
29
points
higher
than
the
SEA
regional
average
of
38
%
(see
Exhibit
3).
97%
Internet
penetration
in
Singapore
is
highest
amongst
the
country's
youth
segment
(97%
of
15
to
19
year
olds
are
online).
80%
Singapore
also
exhibits
the
highest
frequency
of
Internet
access
across
the
region
amongst
online
Singaporeans,
80%
are
accessing
the
Internet
on
a
daily
basis
23%
Close
to
one
in
four
digital
consumers
in
Singapore
(23%)
now
have
a
tablet
computer
in
the
household.
70%
Over
two
thirds
(70%)
of
digital
consumers
in
Singapore
use
a
Smartphone.
Exhibit
3:
Singapore
has
by
far
the
highest
internet
penetration
rate
in
Southeast
Asia,
making
it
a
hotbed
for
the
propagation
of
digital
magazine
products.
8
From
an
advertising
viewpoint,
online
sources
of
information
is
increasingly
impacting
consumer
purchase
decisions
in
Southeast
Asia.
Online-
related
mediums,
such
as
online
product
reviews,
discussion
forums
and
product
websites
all
ranked
convincingly
in
the
top
5
most
trusted
sources
of
recommendations
among
respondents
surveyed
(Source:
Nielsen's
inaugural
Southeast
Asia
Digital
Consumer
Report,
11
July
2011).
Exhibit
4:
Apart
from
traditional
warm-
contacts
like
family
and
friends,
of
which
prior
trust
has
likely
been
established,
online
sources
of
information
have
established
itself
as
among
the
most
trusted
sources
of
recommendations
in
consumer
purchase
decision
making.
*
Note:
Data
from
Exhibit
4
is
an
aggregated
data
of
all
Southeast
Asian
countries
surveyed
by
Nielsen's
inaugural
Southeast
Asia
Digital
Consumer
Report.
The
Southeast
Asia
countries
include
Indonesia,
Philippines,
Malaysia,
Vietnam,
Singapore
and
Thailand.
This
data
can
be
used
as
a
proxy
for
multi-
country/regional
offerings
of
digital
media
products.
Additional
research
also
confirms
Singapore's
dominant
position
in
digital
media
product
consupmtion
in
the
region,
as
Singapore
also
has
one
of
the
highest
tablet
and
smart
phone
ownership
in
the
region.
53%
53%
Tablet
Ownership
in
Singapore
Source:
SPH
Magazines
Hardwarezone
Readership
Survey
2012
88%
88%
Smartphone
Ownership
in
Singapore
Source:
Blackbox
Research,
"Smartphone
in
Singapore",
May
2012
Source:
Nielsen's
Media
Index
Report
2012
(Published
2
November
2012)
Evidences
also
exist
to
show
the
general
decline
of
the
print
media
industry
in
Singapore.
2.3%
Decline
Printed
newspapers
remain
a
staple
read
for
the
majority
of
adult
population
in
Singapore
with
68.4%
having
read
a
hardcopy
newspaper
on
an
average
daily
basis.
But
this
figure
is
2.3%
points
down.
Source:
Nielsen's
Media
Index
Report
2012
(Published
2
November
2012)
9
Strong
Brand
Presence
and
Product
Diversity
from
Existing
Competitors
a
Major
Barrier
to
Entry
for
New
Market
Players
Popularity,
Vibrancy
and
Diversity
are
relevant
adjectives
that
can
be
used
to
describe
the
printed
magazine
industry
in
Singapore.
Popularity
According
to
Nielsen
Media
Index
2012,
1
out
of
4
people
read
magazines
in
Singapore,
amounting
to
a
total
market
size
of
1.3
million
people!
1.3
Million
People
1
out
of
4
people
read
magazines
in
Singapore,
amounting
to
a
total
market
size
of
1.3
million
people!
Source:
Nielsen
Media
Index
2012
494,000
Females
38%
of
all
magazine
readers
are
females
(thus
constituting
a
market
size
of
approximately
494,000
people).
Source:
Nielsen
Media
Index
2012
58%
58%
of
respondents
agreed
that
"The
Megazine
is
an
Enjoyable
Medium"
Source: IPSOS Magazine Study 2012
62%
62%
of
respondents
agreed
that
"Information
in
Magazines
is
Easy
to
Comprehend"
Source: IPSOS Magazine Study 2012
Vibrancy
However,
the
popularity
and
demand
for
magazines
in
Singapore
is
equally
met
by
aggressive
competitors,
with
a
range
of
magazine
titles
catered
to
the
different
and
specific
taste
buds
of
female
magazine
readers.
One
of
these
is
SPH
Magazines
Pte
Ltd.
A
leading
publisher
in
Singapore
and
the
region,
SPH
Magazines
Pte
Ltd
(www.sphmagazines.com.sg)
is
a
wholly-
owned
subsidiary
of
Singapore
Press
Holdings
Limited.
With
about
100
titles
covering
the
lifestyle,
special
interests,
luxury
and
new
media
segments,
SPH
Magazines'
publications
such
as
Her
World,
Home
&
Décor,
The
Peak
and
ICON
are
among
the
highest
circulating
and
best-
read
titles
in
their
respective
categories.
SPH
Magazines
in
wanting
to
fulfill
its
vision
of
being
the
Publisher
of
Choice
in
the
region,
has
established
a
growing
presence
in
Malaysia,
China,
Hong
Kong,
Indonesia,
Thailand,
The
philippines,
Vietnam
and
India.
Additionally,
existing
magazine
titles
have
established
a
strong
brand
presence
with
a
sizeable
readership.
Based
on
Nielsen's
Media
Index
Report
2011
(4
November
2011),
I-
weekly
remains
the
most
read
weekly
entertainment
magazine
with
a
reach
of
4.7
percent
amongst
the
adult
population,
followed
closely
by
UW
(4.2%)
and
8
Days
(3.4%).
Her
World
ranked
as
the
most
popular
monthly
women's
magazine
with
5.2%
reach,
followed
by
Female
(3.1%),
Singapore
Women's
Weekly
(2.9%),
Cleo
(2.3%)
and
Simply
Her
(1.8%).
10