IMail challenging Post's dominance

<p>The newly-launched English-language daily Hong Kong iMail is the </p><p>latest combatant in a long line who have dreamed of carving market share </p><p>off the all-powerful South China Morning Post. </p><p><BR><BR> </p><p>Hong Kong iMail is the reincarnation of Hong Kong's only other English </p><p>daily the Hongkong Standard, under new leadership and new ownership </p><p>since a circulation scandal broke more than two years ago virtually </p><p>brought the owning company, Sing Tao, to its knees. </p><p><BR><BR> </p><p>Another English-language daily, the Eastern Express, launched by the </p><p>powerful Oriental Press Group, folded in 1996 after two years. </p><p><BR><BR> </p><p>The Post, although seemingly confident that its position is </p><p>unassailable, has already shown the first signs of concern by announcing </p><p>the launch of a Friday magazine, one of the iMail's launch products. </p><p><BR><BR> </p><p>Meanwhile, Mr Nigel Oakins, formerly Asia-Pacific chairman of the </p><p>International Herald Tribune, has been named publisher of iMail and a </p><p>board director of Sing Tao. </p><p><BR><BR> </p><p>He told MEDIA that in recent history "the Post has had 99.99 per cent </p><p>market share in display advertising. We're going to change that." </p><p><BR><BR> </p><p>Mr Oakins is also confident that the iMail's classified programme with </p><p>Sing Tao, still known as the JobMarket and which appears every Friday in </p><p>both newspapers, will make an impact. </p><p><BR><BR> </p><p>IMarket was aiming for 120-pages of classifieds during the first week of </p><p>its launch and is gearing up for a regular classified section ranging </p><p>from 40 to 160 pages. </p><p><BR><BR> </p><p>The Friday magazine in iMail had its display space booked out for the </p><p>first three issues, an unheard of development for the former Standard </p><p>which found it almost impossible to attract display advertising. </p><p><BR><BR> </p><p>"It's just a question of getting the ball rolling," said Mr Oakins. "If </p><p>the newspaper is being read by the audience we're pitching to then the </p><p>advertisers must follow." </p><p><BR><BR> </p><p>IMail's rates are enticingly low - HK$30,000 for a full-page </p><p>four-colour and $20,000 for the weekly magazine. The SCMP's page </p><p>rate is more than five-times that. But the SCMP has a proven circulation </p><p>track record, something that iMail must move on rapidly. </p><p><BR><BR> </p><p>The iMail bills itself as a quality tabloid aimed at the 20-40 year old </p><p>Hong Kong audience who may or may not currently read English </p><p>newspapers. </p><p><BR><BR> </p><p>The aim is to hold on to the current Hongkong Standard audience plus a </p><p>new audience that can and would read English newspapers if they were in </p><p>tune with their needs. </p><p><BR><BR> </p><p>The main section of iMail will be 48-56 pages, the second section 56 </p><p>pages and the classified section 40-160 pages, along with the Friday </p><p>magazine. </p><p><BR><BR> </p><p>Mr Oakins commented on stories published in the Chinese press that the </p><p>investment bank Lazards, the 51 per cent owner of Sing Tao was already </p><p>looking for a way out of its involvement. </p><p><BR><BR> </p><p>He pointed out that Sing Tao was a strong company with no debt and </p><p>HK$200 million in cash. Lazard's intention was to first turn the </p><p>newspapers around and then sell at a substantial profit. </p><p><BR><BR> </p><p>Meanwhile, Sing Tao faces restructuring and manpower problems as it </p><p>attempts to boost its recently-revamped Chinese-language Sing Tao Daily </p><p>and the new iMail. </p><p><BR><BR> </p><p>IMail had a launch print run of 80,000 and sold 50,000, according to Mr </p><p>Oakins, who added that its predecessor, the Hongkong Standard, had been </p><p>selling around 15,000 copies in its final days. </p><p><BR><BR> </p><p>News-stand sales for iMail were five times that of the Standard and it </p><p>had more display advertising revenue in its first week than the Standard </p><p>had in the previous two years. </p><p><BR><BR> </p>