The Straits Times' conversion rate

The Straits Times has an article of it's ST Happening application.

Given that it now has 5,300 users downloading the application and a average daily circulation of 355,700, the print to digital conversion rate is at 1.49%.

This is a better conversion than online which is at 0.01%, but is it cost effective for a newspaper ad which is in the ten of thousands than online which a good media buy could only cost hundreds?

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