Optimistic in a gloomy environment
Moneycab Expects Hardly Any Loss of Users Despite the Pay Channel
Moneycab expects hardly any loss of users despite pay channelBy Daniel Schifferle Moneycab and Swisscontent are moving even closer together and saving a lot of costs. In addition, the separation into a free and a pay channel should generate additional income. Nevertheless, without a change of trend on the stock market and on the Internet, the outlook remains bleak.
Financial portals are having a hard time. In view of the miserable performance of the stock market and the internet, cost-covering work has once again become a distant prospect. Good ideas are needed. In the case of Moneycab, the magic words are lean structures and a pay channel.
Together with its sister company Swisscontent, Moneycab is uniquely placed to make efficient cost savings. The two editorial offices were merged in March. The next step on the way to concentrating forces has already been announced for the beginning of 2003. The Swisscontent branch in Kehrsatz BE will then also be dissolved and integrated into the Zurich headquarters. "This will enable us to reduce the editorial team and make massive cost savings", explains Markus Gisler, still CEO of Moneycab and future member of the Board of Directors (BoD) of Finanzfachmarkt AG. The downsizing process will take place without layoffs, and some of the departures will not be replaced.
It is logical for Gisler that he will also be stepping down. "Both Moneycab and Swisscontent employ journalists. One boss is enough," says Gisler. It is therefore logical that Swisscontent CEO Fredy Hämmerli is now CEO of both companies. However, Gisler's tasks are not yet limited to his future role as a board member at Finanzfachmarkt AG. He has an employment contract that is valid until he has found a new position. And he still wants to complete his work. Gisler: "When the Pay Channel is up and running, Moneycab as a site will be finished."
The philosophy of the pay channel, which should be ready for implementation in two months at the latest, is to separate the basic information, which will continue to be available free of charge, from the content that will now only be available for a fee. Agency-style articles on daily economic events and access to stock market prices will remain free. "In-depth content and content that goes in the direction of advice will be subject to a charge in future, as will the special tools that we will offer exclusively to our customers," says Gisler.
The pay channel does not rely on pay-per-view, but on packages that can be subscribed to. According to Gisler, Moneycab is now defining a series of categories that include different services. Each user will be able to order their own personal information package according to their individual needs.
With the introduction of a pay channel, the collaboration between Swisscontent and Moneycab will also be reorganized. The existing Moneycab editorial team will in future write exclusively for the pay channel. In future, Swisscontent will regard Moneycab as a customer that receives the basic feed produced by Swisscontent for the free channel. However, this will not be produced exclusively for Moneycab, but also for other platforms.
Gisler is counting on sufficient demand for paid content. At the end of 2001, the University of St.Gallen carried out a study on behalf of Moneycab, which investigated the willingness to pay among around 600 Moneycab users. "A large number are prepared to dig into their wallets for certain content."
Nevertheless, Gisler does not want to venture a forecast as to how many paying subscribers Moneycab will generate in how long. Nevertheless, although he does not expect "big money" from the pay channel, he is confident that Moneycab will break even. "Moneycab will be in the black in 2004," says Gisler.
Financial portals are having a hard time. In view of the miserable performance of the stock market and the internet, cost-covering work has once again become a distant prospect. Good ideas are needed. In the case of Moneycab, the magic words are lean structures and a pay channel.
Together with its sister company Swisscontent, Moneycab is uniquely placed to make efficient cost savings. The two editorial offices were merged in March. The next step on the way to concentrating forces has already been announced for the beginning of 2003. The Swisscontent branch in Kehrsatz BE will then also be dissolved and integrated into the Zurich headquarters. "This will enable us to reduce the editorial team and make massive cost savings", explains Markus Gisler, still CEO of Moneycab and future member of the Board of Directors (BoD) of Finanzfachmarkt AG. The downsizing process will take place without layoffs, and some of the departures will not be replaced.
It is logical for Gisler that he will also be stepping down. "Both Moneycab and Swisscontent employ journalists. One boss is enough," says Gisler. It is therefore logical that Swisscontent CEO Fredy Hämmerli is now CEO of both companies. However, Gisler's tasks are not yet limited to his future role as a board member at Finanzfachmarkt AG. He has an employment contract that is valid until he has found a new position. And he still wants to complete his work. Gisler: "When the Pay Channel is up and running, Moneycab as a site will be finished."
The philosophy of the pay channel, which should be ready for implementation in two months at the latest, is to separate the basic information, which will continue to be available free of charge, from the content that will now only be available for a fee. Agency-style articles on daily economic events and access to stock market prices will remain free. "In-depth content and content that goes in the direction of advice will be subject to a charge in future, as will the special tools that we will offer exclusively to our customers," says Gisler.
The pay channel does not rely on pay-per-view, but on packages that can be subscribed to. According to Gisler, Moneycab is now defining a series of categories that include different services. Each user will be able to order their own personal information package according to their individual needs.
With the introduction of a pay channel, the collaboration between Swisscontent and Moneycab will also be reorganized. The existing Moneycab editorial team will in future write exclusively for the pay channel. In future, Swisscontent will regard Moneycab as a customer that receives the basic feed produced by Swisscontent for the free channel. However, this will not be produced exclusively for Moneycab, but also for other platforms.
Gisler is counting on sufficient demand for paid content. At the end of 2001, the University of St.Gallen carried out a study on behalf of Moneycab, which investigated the willingness to pay among around 600 Moneycab users. "A large number are prepared to dig into their wallets for certain content."
Nevertheless, Gisler does not want to venture a forecast as to how many paying subscribers Moneycab will generate in how long. Nevertheless, although he does not expect "big money" from the pay channel, he is confident that Moneycab will break even. "Moneycab will be in the black in 2004," says Gisler.
