New law challenges NZZ
Due to a new law, the Neue Zürcher Zeitung has to come up with an alternative system for publishing price listings in order to avoid losing millions in revenue. This is reported by the Sonntagszeitung.
Due to a new law, the Neue Zürcher Zeitung has to come up with an alternative system for the publication of price listings in order to prevent revenue losses in the millions. This is reported by the Sonntagszeitung. According to the law that came into force on January 1, investment funds are no longer obliged to publish their information in a print medium. Internet platforms can now also be used as a publication medium. However, these must be recognized by the Swiss Federal Banking Commission. There is currently no such platform, but Swiss Fund Data, which was founded in December 2006, is pressing ahead with plans to operate an information system. Among other things, it is designed to publish data and information on collective investment schemes. The Swiss Stock Exchange SWX and the Swiss Funds Association, the association of investment funds, are involved in Swiss Fund Data.
The effects of such an internet platform would be felt by financial publications. The NZZ, which like the Tages-Anzeiger is published by Tamedia, would be particularly affected, writes the Sonntagszeitung. This is because financial market advertisements would be a mainstay of the NZZ's advertising business. However, the newspapers Cash, Le Temps and Finanz und Wirtschaft would also have to reckon with a loss of revenue.
The NZZ has already reacted to the new law. "We are working on an Internet solution," says Walter Vontobel, Head of NZZ Media, to the Sonntagszeitung. Investment fund advertisements fill up to four full pages a day in the NZZ and, according to Vontobel, generate annual gross revenues in the low double-digit million range. However, despite the new law, he does not expect any major losses in 2007.
Considerations are also underway at Finanz und Wirtschaft. However, according to publishing director Martin Coninx, the economic success of the paper does not only depend on the price listings, as they clearly generate less turnover than the NZZ.
The effects of such an internet platform would be felt by financial publications. The NZZ, which like the Tages-Anzeiger is published by Tamedia, would be particularly affected, writes the Sonntagszeitung. This is because financial market advertisements would be a mainstay of the NZZ's advertising business. However, the newspapers Cash, Le Temps and Finanz und Wirtschaft would also have to reckon with a loss of revenue.
The NZZ has already reacted to the new law. "We are working on an Internet solution," says Walter Vontobel, Head of NZZ Media, to the Sonntagszeitung. Investment fund advertisements fill up to four full pages a day in the NZZ and, according to Vontobel, generate annual gross revenues in the low double-digit million range. However, despite the new law, he does not expect any major losses in 2007.
Considerations are also underway at Finanz und Wirtschaft. However, according to publishing director Martin Coninx, the economic success of the paper does not only depend on the price listings, as they clearly generate less turnover than the NZZ.
