Professor Dipak Jain, left, Kellogg School of Management at Northwestern University, greets Priya Marwah, South Asia coordinator, INMA, during a tea break.
Delivering the keynote address at the CEO-Publishers Conclave, Jain lists the four main global challenges in the coming decade for the newspaper publishing industry: changing customer demographics, the search for talent, 'hyper' competition, and 'nano-second' culture.
"The world is becoming bipolar. For example, whereas in India, we have 550 million people who are 24 years or younger -- the fastest growing segment -- in the developed world the majority is 60 years and older. We need to ask what kind of people we need for the industry. Retention is a serious problem that will not disappear. A formal training in journalism and media management is necessary," he says.
Referring to 'hyper' competition and to the success of Google, he says the customer who provides media revenue is important. Value creation is as important as value capture, he adds.
Explaining how the 'nano-second culture' has made newspapers irrelevant in terms of breaking news, Jain says: "In the future, the newspaper should become a communication medium. Readers should contribute and be made co-creators of the reading experience. The more we engage readers, the more successful we will be."> Kellogg School of Management at Northwestern University on the web– Sashi Nair