Cheryl Goh, Head of E Media of New Straits Times Press in Malaysia shares insights into the company’s new media mindset. Management commitment to new media and NSTP e-Media’s creative culture contributed to their growth and achievements.
Last year, NSTP made its biggest bonus payouts in the company’s 166-year-old history -up to seven months- after a spectacular performance which saw its advertisement revenue grow.
The management hopes to repeat the performance this year. Online revenue for NSTP e-Media is expected to grow over 250% by end of this year.
Goh attributed the stellar performances over the past two years to the management’s dedication to new media. This commitment was clearly outlined in Project Optimus, the company’s transformational five-year strategy.
Goh said a fun open office often reflects the culture it wanted to portray. In her case, she said the cool, colourful space which houses e-Media improved morale. The young, fun and vibrant culture also attracted young talents to join the company.
“When visitors step into e-Media, they often want to work with us!” she said.
NSTP also set up WakaLab, an innovation platform to engage the youths in NSTP. Its mission is simple; to foster ideas and spearhead innovation to come up with new products and services catered to the younger readers.
WakaLab frequently hosts events and activities to rally the youths together. An example was HackWeekend which saw over 60 young programmers get together to build 13 apps within 30 hours.
Giving an account of the company’s strategic themes, Goh says moving forward it is important for them to continue expanding their online reach and presence, to monetise their online audience, and to rethink the way the company delivers news.
New Straits Times, the company’s flagship publication recently re-launched incorporating iPad, mobile and online as part of its news distribution strategy. “Social media and SMS do a much better job than print to break news,” Goh says.
Ultimately, she says the company’s focus and commitment in new media will ensure they continue to deliver results and push them to build new online products.