[The Editors' Verdict] Are There Newspapers That Hope Readers Will Leave?

There are companies that actually hope their customers will leave quickly. "Fall in love. Delete our app." This is the advertising slogan of a certain dating application. Dating apps like Tinder and Hinge confidently state, "We were made to be deleted." For them, success means that consumers find a partner and leave the app. The same applies to wedding planner apps, smoking cessation apps, and certification preparation services. These are services that naturally come to an end once a specific goal is achieved.

An extreme example is the American startup SimpleClosure. In the United States, 700,000 companies close down every year. This company provides a service that allows businesses to liquidate quickly, accurately, and easily. Customers use this service once and, in most cases, do not return. This is a business model where success depends on customers leaving quickly. In other words, it is a "customer churn" model.

On the other end of the spectrum is the "subscription model," which is currently the dominant model in industry. Leading companies across various sectors?YouTube, Netflix, Amazon, Spotify, Microsoft 365, and ChatGPT?have all adopted it. They predict revenue based on real-time subscriber numbers and have a profit structure that is repetitive and accumulative.

The customer churn model is different. Recurring monthly revenue or subscription retention rates are not important. Instead of loyal customers, the focus is on repeated market demand. The key factors are the size of the market itself, exposure through search and advertising, and the speed at which consumer needs are met. Rather than holding on to each customer for a long time, the strategy bets on the fact that new customers with specific needs will continuously appear in the market.

On a wooden table, there are a paper newspaper, coffee, a mobile phone, a notepad, and a pen. Pixabay

The dominant trend in the media industry is also the subscription model. The New York Times (NYT), which has secured more than 10 million digital paid subscribers, is at the forefront of this trend. Major media outlets such as the Wall Street Journal (WSJ) and the Financial Times (FT) are following suit by introducing and strengthening paywalls (paid subscription barriers).

However, the reality for media outlets trying to follow this trend is not easy. Most media companies, both domestic and international, are struggling to attract subscribers. Consumers, who are already paying for multiple subscription services, say that "digital rent" is breaking their backs. In a media environment overflowing with free informational platforms and deepening distrust of the press, people are increasingly reluctant to pay for news. In the Korean media environment, the prevailing perception is that "news should be free," making the path to paid content even more difficult.

Could the media take a cue from the customer churn model? Instead of holding on to loyal readers, the idea is to provide the highest value at the moment to temporary readers who seek out news whenever a specific issue arises. The focus would be on delivering the fastest and most accurate information during events such as presidential elections, tariffs, major disasters, or the World Cup. When the heat of the issue dies down, readers may leave, but in "Dynamic Korea," new issues (markets) will continue to emerge. In other words, readers may leave, but the market repeats itself.

The British media group Reach has a mission that "everyone should have free access to news." Without barriers such as logins or subscription fees, their top priority is to spread their content as widely as possible. Revenue comes from advertising. While subscription is an excellent business model, it is not the only answer. It is important to find a model that fits the characteristics of the media outlet and consumer behavior. I hope to see more experimental business models emerge in the media ecosystem. Of course, it is a terrifying prospect for readers to leave. But what we should fear even more is failing to change despite feeling a sense of crisis.