The Malaysian Reserve calls time out for print edition

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TMR Media is ceasing the print edition of The Malaysian Reserve and the last publication will be 29 April. Group editor and MD, Mohamad Azlan Jaafar, said in a statement on its website that the decision to stop the print edition will allow it to evaluate and restructure the company’s overall business, including introducing new propositions to readers in the future.

It will continue to channel all resources to its website and will contact subscribers to discuss the refunds. TMR Media also thanked advertisers for their belief in the print edition and the reach The Malaysian Reserve provides.

"Like in many parts of the world, the newspaper industry in Malaysia is not shielded from similar challenges. Dwindling circulation, high newsprint prices, low ad revenues and digital migration have made the printing of a niche newspaper such as The Malaysian Reserve in its current form no longer viable from the cost and revenue perspectives," Mohamad Azlan said.

He also said that the pandemic added another severe blow to the already difficult business environment. "Content and news creation, like the production of any product, is a business that requires substantial revenues," he said, adding that despite a spike in digital readership, page views and unique visitors, ad revenues for digital platforms have been negligible.

"Large corporations in Malaysia channel a substantial portion of their ad and promotion spending on US tech search engines, social media, video channels and related services. They are more supportive of these tech giants than local legitimate media organisations which have contributed to their business’ success," Mohamad Azlan explained.

According to him, governments in Europe have implemented laws that force US tech firms to share a percentage of their ad revenue generated from the region with legitimate content and news organisations. In December 2020, the European Commission announced draft rules to rein in tech giants such as Alphabet, Meta, Apple, and Amazon. According to Reuters, these tech giants face a list of dos and don'ts, such as sharing certain types of data with rivals and regulators and bringing a halt to favouring their own services.

Mohamad Azlan said that Malaysia "either [does] not have the political will nor intelligence to enforce such laws" and that the "consequences will be all to see in the years to come".

"Irrespective of all the challenges, TMR Media would like to extend its gratitude to our readers who pick up the newspaper every day from our news vendors. Our appreciation to our subscribers who continue to have faith in the coverage of the newspaper," he said.

The Malaysian Reserve is not the only print publication to have shut down as a result of the pandemic and ad revenues. In 2020, Blu Inc Media ended its print and digital publications as a result of the "tremendous challenge from digital disruption" over the past few years. While it has made increasing investments to build its digital capabilities, it remained unclear back then if Blu Inc Media had gained sufficient traction while the losses continue to increase. The losses also continued with the Movement Control Order.

That same month, The Edge Financial Daily also ceased operations 13 years after it was first launched in 22 May 2007. Publisher and CEO Ho Kay Tat and editor-in-chief Azam Aris announced on The Edge Markets that FD is unable to survive the double onslaught of the shift to digital news and the current lockdown of the economy due to the COVID-19 pandemic. The Malay Mail also went fully digital in 2018, ceasing its print edition on 1 December that year due to "a change of business direction".

Photo courtesy: 123RF

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