In my opinion up to half of Thailand's English language print publications will disappear during the next 12 months as the global recession bits deeper, consumers concentrate on necessities and the expense of luxuries, and advertisers either stop spending altogether or demand more measurable and transparent returns on their investment.
Right now there are probably more English language publications in Thailand than you realize. I've been surveying the market for my English Media in Thailand website and it was a surprise to me just how many there are. What's equally surprising is how many of them manage to survive.
When you consider the English is a niche market anyway it's likely that only the strongest titles will make it through the crisis. That's strongest both financially and in terms of what they provide. The weak and fluffy will be the first to disappear.
The potential readership for English titles in Thailand is limited, despite the fact that reading English is seen to be somewhat prestigious in Thai society. But even the mainstream English publications which also appeal to Thais will not be immune, although I think the impact on them will be less.
Take The Bangkok Post for example. David Armstrong, the former Chief Operating Officer, revealed last year that up to 80 per cent of their readers are Thai. Using their latest audited circulation figures that would mean a mere 12,500 expatriates and tourists get a copy each day – and just 3,700 are paying cover price for it.
The latest circulation figures for that newspaper - which is the only publication of any kind in Thailand that undergoes an independent circulation audit - are due for release any day now. The report will cover July-Dec 2008 and it will be very interesting to see how the events of September and December have impacted on its sales.
The Bangkok Post is not in danger although the focus of its parent company might change. At the last AGM one shareholder voiced similar concerns about the limited appeal of English and suggested the company focus more on its Thai language publications.
Most at risk are those publications that appeal just to tourists and expatriates. There were too many before advertising started to dry up, so it goes without saying that with less money to go around some will likely call it a day pretty soon.
One magazine is doing its best to look healthy by giving away full page advertising to its clients. It might look great but it sure doesn't pay the bills. Their thinking, I'm guessing, is to convince others to pay by showing a well-advertised publication. They are also taking paid-for ads away from their competitors, after all why should someone pay for exposure when they can get it elsewhere for free?
What this publisher fails to understand is that word spreads, and what might have seemed a good idea has backfired because everyone wants that free advertising. They are killing their magazine and are probably killing two others in the process.
I can only think of one magazine - Property Report Thailand - that has managed to extend its brand beyond the printed page. It has a decent online offering and has expanded into events too. Last year it also launched a Thai language print edition.
To survive this year .. no wait .. to survive even the next three months English language publications in Thailand need to act now. They need to make themselves indispensable and they must expand their brand beyond print. Only the strongest will survive, or perhaps it's just all too late?
Are English language print publications in Thailand doomed? Do you buy any, if so which ones? Would you miss them if they disappeared? Are you working in the English language media in Thailand? Do you feel your job is at risk? Have your say now by posting a comment.
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