02.03.2015 mongolian economy magazine challenges and opportunities for print media in mongolia, b....
TRANSCRIPT
Challenges and Opportunities in Print Media
1 Mongolian Economy
Media Landscape of Mongolia
• Mongolian press started in 1920 with Unen newspaper (Wikipedia)
• In 1998, Media Freedom Law was approved in Mongolia. Proliferation of media outlets ensued. (UN)
• According to Press Institute (2013), there are 126 newspapers and 92 magazines.
• Market seemingly saturated for 2.9 million population – Little regulation
– Paid content + ad opportunities attract many
– Almost every politician has several media outlets or owns a share!
Mongolian Economy 2
Magazines in Mongolia
• General appeal magazines
– Fashion and beauty (Cosmopolitan, InfoTV)
• Special niche magazines
– Magazines specialized in Mongolia’s economy and current affairs
• Mongolian Economy
• Mongolian Mining Journal
Mongolian Economy 3
Mongolian Economy Magazine
• Established in February, 2011
• Vision of providing analyzed, accurate information for decision makers in Mongolia and foreigners interested in Mongolia.
– Becoming a bridge between state and business
– Attracting foreign investment
• Established presence during these four years
Mongolian Economy 4
Economic recession
• Heavy impact for private sector
• Heavy impact for magazine sector
• Ad sales plummeted, with slight recovery in Sept 2014
• But our subscription is growing strong!
– We thank our loyal readers!
• This calls for harder efforts from our end to adapt and grow
Mongolian Economy 5
Strategies for ME to Cope with Challenges
• Better Content
• Better Design
• Better Team
• Changes have begun, so look out!
Mongolian Economy 6
Foreign Relations
• Partnering with The Economist magazine
• Foreign: investment summits in London, Tokyo
• Domestic: (We are official media partners of..) – Mongolian Economic Forum
– Coal Mongolia etc.
• 1 year partnership with Dow Jones – Updates the world regarding Mongolia’s economic
situation
– Our coverage gets worldwide exposure
Mongolian Economy 7
Better Content
• In-depth, professional and independent source • Recruiting professional economists, analysts • Columnists:
– Byambaa L – Dulguun B – Munkh-Erdene G – Stefan Hanselmann – Masa Igata – and MP Amarjargal R. starting from this year!
• Cooperation with Business Council of Mongolia – Opening “BCM Corner”, expanding previous level – Very happy and hopeful for fruit collaboration
Mongolian Economy 8
Better Design
• Our audience segments – State decision makers (parliament, ministry, agency) – Embassies and int’l development organizations – (Expat) Business owners, entrepreneurs – Economists, analysts and future-conscious individuals
• Website is the future of ME – Current version www.mongolianeconomy.mn – “Encyclopedia of Economy in Mongolia” as a vision – In-depth and professional level information – Additional English side caters to new foreign investors – Redesign under way, with re-launch this May – Mobile App, compatible with Tablets
• Layout and cover innovations
Mongolian Economy 9
Try Our Online Subscription Demo
Mongolian Economy 10
www.mongolianeconomy.imedia.mn
Better Team
• Staff in print media lack English-fluent journalists
• We have the most English-proficient team in Mongolian print media– we’re proud to say it! – Young, dedicated staff – Graduates and repats
from USA, France, UK, Czech, Belgium
– Leadership with 15 year experience in economic journalism
• Adding more economists, analysts, people passionate about writing as contributing writers
Mongolian Economy 11
Finally
1. PWYW
2. Innovative Product
3. A short survey – tell us what you think!
4. Subscribe!
5. We’re open to partnership ideas!
Mongolian Economy 12
Mongolian Economy 13