The Standard Media Group has reduced the price of its flagship The Standard newspaper.
From December 6, The Standard Newspaper has been selling at Sh. 50. This is a discount of Sh. 10 from the Sh. 60 that the newspaper was selling at previously.
The price reduction now means that the Standard is currently the cheapest mainstream newspaper in Kenya. Its rivals, the Daily Nation and the Star sell at Sh. 60 each.
Nonetheless, The People Daily which is owned by Deputy President William Ruto’s MediaMax, circulates as a free newspaper. Despite being a free newspaper, The People Daily has fallen short of gaining sizeable market traction.
“From December 6 grab a copy of The Standard newspaper at Ksh. 10 less as we say thank you for all you have done for us. As we seek to provide our loyal readers with the quality they deserve, we are giving you your ten back,” reads a notice published in the newspaper.
Mainstream media in Kenya is currently facing stiff competition from digital channels that have made it easier for consumers to access and process information in real time online. As result, a number of mainstream newspapers are currently reporting reduced circulation numbers.
The move to slash its prices goes against the norm in Kenya’s media industry. Previously, media houses have been known to develop newspaper pricing consensus that has seen newspaper prices shoot from Sh. 30 to the current range of Sh. 60. It now remains to be seen whether the Standard shall maintain its current pricing in the long term and how rivals shall react.