media - SCMP: unfazed by its upcoming collapse

In the good old days, before the handover in 1997, the South China Morning Post was a good read for its continious row of stories on China's upcoming collapse. Willy Wo Lap Lam was in the 1990s the master of the collapse stories, but it was a threat that earned the paper much readers. Of course, we all noticed it never happened, but it was a good read anyway.
Now it is time to reverse the story and talk about the upcoming collapse of the South China Morning Post. I linked earlier to the quotes of the publisher of the New York Times, who sees that the time span of the print-edition of his paper is limited. Compared to the New York Times, the South China Morning Post is like a dinosaur who has not noticed the world has changed.
Doug Crets builds on the NYT story (h/t Simon World)and wonders how Asia is doing in the Asia Sentinel.
Asia seems to be running behind the developments in the US, but everywhere preparation for China, forced by free dailies and a high connectivity, is forcing publishers into action.
But not at the offices of the South China Morning Post, where a growing revenue stream has been like opium, preventing a good outlook on reality:

In Hong Kong, where broadband penetration is among the highest in Asia (73 percent), if there was a threat of a bloodletting, the dominant English language paper seems unfazed. The South China Morning Post (SCMP) is not turning towards the acquisition of online classifieds sites and management says they haven’t been threatened by the free dailies which dealt blows to the Chinese daily industry...Meanwhile, SCMP’s own online platform, which is subscription-based and offers no free content is likely to undergo a revamp as management looks to target higher monetization. SCMP.com saw revenue contract by 10 percent during 1H 2006 due to a 21 percent drop in content syndication fees and the postponement of a number of advertising campaigns. The site’s paid user base remains flat at around 20,000.