NZME reveals strategy

NZME will start charging online audiences for premium content in the June quarter this year, but doesn’t expect to start generating earnings for another two years. The publisher of the Herald, Rotorua Daily Post, Northern Advocate, Hawke’s Bay Today and Bay of Plenty Times newspapers yesterday reported a 44 per cent slide in annual profit for 2018, which it said was due to its increased investment in new revenue streams it hopes will replace a structural decline in its traditional print business. Net profit attributable to shareholders fell to $11.7 million in the 12 months ended December 31, from $20.9m a year earlier. The other area where NZME hopes to make inroads is in charging online audiences to access “premium journalism”. It hopes to secure 10,000 paid digital subscribers from its 1.7 million digital audience in the first year.