Situation

TODAY, a Singapore-based publication owned by Mediacorp, transitioned from being a print-first commuter newspaper to a fully digital platform in 2017. With this shift, the publication strategically refocused on engaging local millennials. Post-pandemic, and in an era of active news avoidance and news fatigue, Mediacorp was looking to assess the role of TODAY within the wider organisation, including how it could add incremental strategic value to Mediacorp’s flagship news offering, CNA, given a high digital audience overlap between the two. Mediacorp was also keen to identify how TODAY could best align with Mediacorp’s broader vision and thrive in the ever-evolving digital landscape. This therefore raised the central question: What is the optimal future for TODAY?

Engagement

A three-month collaborative engagement followed a structured three-phase approach: 

 

  • Current state analysis: Evaluate TODAY’s current position and contribution to Mediacorp. 
  • Future state analysis: Simulate three potential future scenarios for the publication. 
  • Recommendation: Provide a final recommendation along with implementation guidelines.

Methodology

The FT Strategies team focused on data-driven insights and collaboration with Mediacorp to reach the final recommendation: 

 

  • Success Criteria: Mediacorp prioritises reach and engagement when measuring the success of its offerings. Therefore, we used these metrics, together with EBITDA contribution, as the primary criteria for evaluation.
  • Understanding Current Performance: To evaluate TODAY’s impact against these key criteria, we conducted surveys targeting TODAY’s readership, the general population, and its advertising partners. In addition, we performed an analysis of audience trends both within TODAY and across the market, while also engaging in interviews with internal and external stakeholders to gather further insights. 
  • Scenario Mapping: We simulated three scenarios for TODAY, each exploring different content focuses, target audiences and organisational structures to assess the impact of these strategies on Mediacorp’s overall reach, engagement and financial performance. This enabled us to identify the optimal scenario based on financial viability and strategic alignment.

Results

 

  • The scenario where TODAY merged with CNA's digital newsroom and sharpened its focus on long-form content presented the best opportunity for Mediacorp, as this format resonated most with TODAY’s audience.
  • Mediacorp adopted the recommended strategy, transitioning TODAY into a digital long-form weekend magazine under the CNA brand.
  • FT Strategies outlined the key capabilities required to support the proposed future state. 

"FT Strategies was asked to help us identify future options for one of our products in the face of rapidly changing audience and content habits. The team rapidly got up to speed with the performance of the product and proposed a range of options, drawing on case studies and benchmarks to quantify the outcomes.  FT Strategies’ recommendations informed our management team’s final decision which was then ratified by our Board."

Paul Sumner Head of Corporate Development, Mediacorp