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Abstract
The closure in mid-2001 by Singapore Press Holdings (SPH) of its experimental tabloid newspaper, Project Eyeball, after less than 1 year of publication, was popularly attributed to a pair of market factors: its 80-cent cover price and competition from a pair of free tabloids that entered the market hot on its heels. Although pricing and competition were doubtless important contributing factors to Project Eyeball's rapid demise, a pair of additional economic concepts emerges on closer examination of the newspaper's brief history and may provide additional clues to its failure. One is the principle of relative constancy, which held, until it was disproved in the 1980s, that the level of expenditures on media remained fairly constant as a percentage of the overall economy. The other is the influence on management practices of share prices of publicly traded newspaper companies, into which category SPH falls. Considering these factors in addition to price and competition helps to better explain the rapid demise of Project Eyeball.