KUALA LUMPUR: The Star Media Group took a further step into the digital age by launching a subscription-based news service that focuses only on the capital markets.
It launched StarBiz Premium, a collaboration between StarBiz and Wall Street Journal as well as the Singapore Business Times.
The product will provide news on a global and regional perspective and will be available online exclusively.
Bursa Malaysia chief executive officer (CEO) Datuk Seri Tajuddin Atan described the initiative by Star Media Group as “taking the bull by its horns”.
He acknowledged that the media industry has gone through a major structural transformation brought about by the rise of digital platforms such as Google and changing habits of consumers’ reading pattern.
“As a result, most traditional media companies have been forced to re-visit their business strategies to stay afloat and to deliver news to readers in a more cost-efficient manner.
“I would like to commend Star Media Group for its on-going progressive efforts to adapt to the new digital age, and cope with these changing trends,” he said after launching StarBiz Premium on Wednesday.
Meanwhile, Star Media Group managing director and CEO Datuk Seri Wong Chun Wai said the media company was “taking baby steps” in putting up a paywall after giving away news and scoops for free over the last 22 years.
“Towards this end, we feel that the most compelling case that would prompt readers to embrace the paywall is to provide news related to the capital markets and economy. Reliable and accurate information is most needed for decision-making – at anytime, any place, anywhere,” Wong said.
Subscription to StarBiz Premium starts from as low as RM10 per month.
StarBiz is the most popular business news website in the country, garnering an average of more than 1.4 million unique visitors and 5.8 million page views per month. Some 300 guests attended the launch held at the St Regis hotel.