Singapore press market to get boost from SPH with two new mass titles

<p>The Lion City's only mass circulation newspaper publisher is </p><p>rolling out two titles: Project Eyeball and Streats, in a bid to </p><p>diversify its advertising revenue stream and readership profile. </p><p><BR><BR> </p><p>Targeted at young people aged 20 to 40, Singapore Press Holdings (SPH) </p><p>will launch the mass daily title, Project Eyeball, which will go online </p><p>on the group's Asia1.com platform. </p><p><BR><BR> </p><p>With a target circulation of 25,000 to 35,000 copies in the initial </p><p>year, Project Eyeball could increase its penetration to 100,000 copies </p><p>in five years' time. </p><p><BR><BR> </p><p>Advertising rates have yet to be finalised, but it is expected to be </p><p>between the rates charged by The Strait Times and The Business </p><p>Times. </p><p><BR><BR> </p><p>Project Eyeball will likely try to capture a share of the burgeoning IT </p><p>advertising pie, Grey Advertising media manager Dolly Yeo said. </p><p><BR><BR> </p><p>With the online version, Ms Yeo reckoned the group will offer more value </p><p>added sales packages which combine print and online advertising. </p><p><BR><BR> </p><p>As The Strait Times has long dominated the mass daily newspaper scene in </p><p>the Republic, Ms Yeo noted the launch of a new daily title will add </p><p>spice to the market. </p><p><BR><BR> </p><p>She said SPH also wanted to diversify and expand its revenue streams by </p><p>launching more new titles in the marketplace. </p><p><BR><BR> </p><p>Meanwhile, SPH will also roll out a free morning tabloid newspaper, </p><p>called Streats, in September. </p><p><BR><BR> </p><p>To be distributed on newsstands and fast food outlets as early as 6:30am </p><p>for commuters, the free tabloid newspaper expects to have a circulation </p><p>of about 200,000 copies. </p><p><BR><BR> </p><p>It is understood that Streats is to compete with another </p><p>yet-to-be-launched free tabloid title, Today, which will be published by </p><p>Media Corporation of Singapore. </p><p><BR><BR> </p><p>Today will be targeted at commuters on MRT trains and public buses. </p><p><BR><BR> </p><p>Despite the fact that SPH still dominates the print media in Singapore, </p><p>media directors said the launch of more titles would add more dynamism </p><p>in the market and create new opportunities and flexibility to </p><p>advertisers. </p><p><BR><BR> </p><p>CIA Medianetwork general manager Bertilla Teo said the move towards </p><p>greater media segmentation was good because it gave advertisers more </p><p>choice when targeting niche markets. </p><p><BR><BR> </p><p>As Project Eyeball will offer offline and online versions for readers, </p><p>Ms Teo said the paper needed to strike a balance between its online and </p><p>offline distribution to safeguard its subscription base. </p><p><BR><BR> </p><p>SPH already has a 53 per cent share of the total media adspend in </p><p>Singapore, according to Ms Teo, who believed the government will not </p><p>grant another newspaper license in the immediate future. </p><p><BR><BR> </p><p>The Singapore government recently issued two media licences: one for </p><p>newspaper and one for broadcast. </p><p><BR><BR> </p><p>Last year, there was speculation that a second publishing group would </p><p>launch a second mass daily title to compete with The Strait Times. </p><p><BR><BR> </p><p>However, the newspaper licence was finally granted to SPH. </p><p><BR><BR> </p><p>SPH's net profit grew 44 per cent to S$201.6 million (US$119.6 million, according to Merill Lynch's media report, which projected </p><p>the group's earnings growth at 20 per cent for the next two years. </p><p><BR><BR> </p><p>The growth was supported by robust advertising and good cost control, </p><p>Merill Lynch reported: "We believe SPH's core business is strong due to </p><p>the economic rebound and deregulation in the financial and telecoms </p><p>sector." </p><p><BR><BR> </p>