No decision on paywalls, says Fairfax
Australasian publisher Fairfax Media is keeping mum on whether it intends to bring in digital subscriptions for its New Zealand newspapers.
Last week its main rival APN said a metered paywall would be introduced to its flagship local paper, The New Zealand Herald, next year.
Fairfax brought in digital subscriptions to its big Australian titles, The Sydney Morning Herald and The Age, six weeks ago.
But speaking from Sydney after its annual results, Fairfax's managing director Greg Hywood said that move would be "a market by market" decision.
"We've certainly got nothing on the cards right now but that's not to say it won't occur in the future.
"You need to meet a range of criteria. You need a very high market penetration, you need a very strong advertising base, because clearly the risk is if you put in some sort of digital subscription model, you will sit on your ability to grow advertising.
"And you need to make sure the market demand is there for the range of digital products."
Fairfax's paywall on its two Australia heavyweights had gone well so far, he said.
Overall, Fairfax Media narrowed its losses from A$2.7b last year to a net loss of A$16.4m after significant items and tax.
Fairfax's New Zealand division reported a 4.7 per cent fall in revenue to NZ$421.6m, an improvement on the 8 per cent decline last year.
- © Fairfax NZ News