Newspapers still have life left: Lachlan Murdoch

The News Corp heir discussed the direction of the media industry, including the role of dynamic advertising at the Mumbrella360 event

News Corp's Lachlan Murdoch
News Corp's Lachlan Murdoch

News Corp's Lachlan Murdoch believes newspapers still have a "tremendous amount of life left in the them" despite a huge shift to digital technologies.

The non-executive chairman of News Corp made an appearance at the Mumbrella360 event in Sydney today, discussing the direction of the media industry and why it's important to challenge the status quo.

Murdoch believes print newspapers are not on their last legs.

“It's a challenge, certainly, and the future is digital, absolutely... but newspapers have a tremendous amount of life in them still. It's a powerful medium, and people are still actively buying the papers every day... this will be a core part of our business for years to come,” he said.

Murdoch described the scenarios and opportunities for organisations to advertise and sell across both print and digital.

“We maintain our different categories of content and more and more we're learning how to sell and use inventory across both print and digital, that’ll be big trend, particularly on mobile devices,” he said.

It's important to remember, he added, that the first iPad tablet wasn't released until April 2010 – a mere four years ago.

“So much has happened in that four years...so we're still at the beginning of learning about, understanding, and shifting to all the new devices and media outlets.”

Murdoch said journalism was rapidly growing into a digital business and "it's a tremendously exciting time for all of us."

“We work in the greatest industry in the world, at the greatest time to work in this industry. It's a time full of dramatic and exciting change, it's a time where the barriers to entry are the lowest they've historically ever been, and consumers' habits are changing dramatically at a pace faster than we've ever seen before,” he said.

Murdoch advised media and marketing graduates at the event to be disruptive if they wanted to make a splash in the media industry.

“The best way you can thrive in that world is to be disruptive. Find new opportunities, don’t settle for the status quo, and always take risks,” he said.

While discussing the journey of television, Murdoch said more and more people want to watch television on their own terms, whether it be live, recorded or on-demand.

“It's about capturing the audience,” he said, when discussing how to adhere to viewer demand and engage viewers to all programs and advertisements.

“This can only be done with dynamic advertisement... so I can serve an ad on a Sunday night but I'd serve a different ad to a viewer on Tuesday night," he said.

"We can provide that dynamic advertising and capture a real seven-day view of our audience. I think that's where we need to go on the television side, and I think that's where we are going, it's just a question of how long it'll take to get there.”

On the topic of media regulations in Australia, Murdoch said we need a regulatory framework that takes into account a long term view of the media industry and all the activity within it.

“In the past several years if you looked at the channels you could market on, there were 50 different channels, versus hundreds and hundreds of channels today – and I think we need a regulatory framework that reflects the reality of how people are consuming, working, and investing in media today,” Murdoch explained.

“We don't need people to come and change media regulation around the edges... changing cross-media rules won't work effectively by themselves. We need to work on a holistic approach...

“[We need to] put a framework around media regulation that looks forward 20-30 years into the future,and not mediums and technologies that are 20-30 years old,” he said.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Conversations over a cuppa with CMO: Craig Davis

​Leadership resilience, startups scaling up, marketing best practices, customer insights - these are just a few of the topics we manage to explore in the latest episode of Conversations over a Cuppa with CMO featuring Craig Davis.

More Videos

JP54,D2, D6, JetA1 EN590Dear Buyer/ Buyer mandateWe currently have Available FOB Rotterdam/Houston for JP54,D2, D6, JetA1 with good and w...

BARYBKIN ALEXANDER ALEXANDROVI

3-pronged marketing approach for property disruptor Brickx

Read more

Was really informative. Customer retention is very important for companies as retaining customers are simpler compared to making new ones...

Bhooshan Shetty

What lies ahead for the future of marketing post-AI

Read more

Good day sir / madamWe CLOSED JOINT-STOCK COMPANY AO KAYUM NEFT OIL COMPANY is one of theleading Oil & Gas trading companies in Russi...

BARYBKIN ALEXANDER ALEXANDROVI

3-pronged marketing approach for property disruptor Brickx

Read more

Good day sir / madamWe CLOSED JOINT-STOCK COMPANY AO KAYUM NEFT OIL COMPANY is one of theleading Oil & Gas trading companies in Russi...

BARYBKIN ALEXANDER ALEXANDROVI

Oath to fully acquire Yahoo7 from Seven West Media

Read more

Thank you for sharing your knowledge. Definitely bookmarked for future reading! Check this website https://a2designlab.com/ with lots of ...

Ryota Miyagi

Brene Brown: What it takes to be a brave leader right now

Read more

Blog Posts

Life beyond the cookie: 5 steps to mapping the future of marketing measurement

​There’s no denying there’s been a whirlwind of response to the imminent demise of the third-party cookie from all parts of the industry. But as we’ve collectively come to better understand the implications, it’s clear this change is giving the digital advertising industry the opportunity to re-think digital marketing to support core industry use cases, while balancing consumer privacy.

Natalie Stanbury

Director of research, IAB Australia

Ensuring post-crisis success

The COVID-19 pandemic has exposed brands’ CX shortcomings and a lack of customer understanding. Given ongoing disruption, customer needs, wants and expectations are continually changing, also causing customers to behave in different ways. Just look at hoarding toilet paper, staple and canned food, medicinal and cleaning products.

Riccardo Pasto

senior analyst, Forrester

A few behavioural economics lesson to get your brand on top of the travel list

Understanding the core principles of Behavioural Economics will give players in the travel industry a major competitive advantage when restrictions lift and travellers begin to book again. And there are a few insights in here for the rest of the marketing community, too.

Dan Monheit

Co-founder, Hardhat

Sign in