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How to Drive Online News Revenue

Posted on Mar 28, 2012 in Newspaper Revenue | 1 comment

It breaks my heart when I read articles like a recent one by Michael Wolff of The Guardian describing the news industry’s “imploding business model” and “portending, once again, the end of the world as we know it.” (http://bit.ly/HiLIk3) His article describes why the growing trend toward mobile news is going to kill the news industry, because it will further erode revenue from CPM (impression-based) banner advertising. As if banner ads were a viable model for news regardless. I suppose I shouldn’t be too surprised by the report; last month John Paton (CEO of Digital First Media, the second-largest media company in the US) said “And for God’s sake stop listening to newspaper people. We have had since the mid-90s to get this right and clearly we are no good at it. Put the digital people in charge – of everything. They can take what we have built and make it better. It is so very important we get this right – not just for the industry and investors – but for our communities.” (http://jxpaton.wordpress.com/) As one of those “digital people” I’ve been working to transform the news industry by introducing digital media innovation, both on the newsroom and the sales revenue side. I generally work with clients to help them tailor a sales strategy that will work with their market and their editorial focus, but I thought I had better discuss in this blog some of the tangible options that a newsroom can bring to bear. And none of them are banners or paywalls! If there is one thing I have learned from 20 years working in Silicon Valley, it’s that you have to follow the money: in this case, you have to analyze where businesses are spending their ad budgets. And so that’s where I started, by looking at business advertising spend. For the past 3 years I have focused on local and specialty news outlets: those news and magazine publishers whose target demographic is either geographically local or psychographically tuned to both their audience and their advertisers. (In other words, where the advertisers are targeting, in the publication’s readership, a highly qualified demographic of consumers.) So if my suggestions below seem too focused...

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From Newspapers to Digital Media: Follow John Paton

Posted on Feb 16, 2012 in Future of News | 0 comments

I have to take a short break from my SEO series to comment on an article that appeared this past Saturday in the Irish Times: “Narrowing the gap between old and new media is the future.” This article compares and contrasts “old media traditionalist” Alan Crosbie, chairman of Thomas Crosbie Holdings (Irish Examiner and the Sunday Business Post) against “new media messiah” John Paton, CEO of Digital First Media (the second-largest U.S. media chain). The Irish Times article is unrelentingly harsh in its portrayal of Alan Crosbie, who does have a few legitimate reasons for his fear and loathing of new media and the Internet. After all, TCH hasn’t been that effective in tapping into digital revenue, and free online news without a revenue model can undermine the value of print newspapers. But Crosbie’s concerns seem to be more directed at preserving quality reporting and what he calls “provenance,” which I call the responsibility and accountability expected of journalists, especially in terms of unbiased reporting and fact-checking. It reminds me of the book by Andrew Keen, The Cult of the Amateur: How Today’s Internet is Killing Our Culture. In an interview on the PBS News Hour, Keen said: “The key argument is that the so-called ‘democratization’ of the Internet is actually undermining reliable information… with user-generated content, we’re actually doing away with information, high-quality information, … and replacing it with user-generated content, which is unreliable, inane, and often rather corrupt.” (18 September 2007) The Irish Times reporter Shane Hegarty goes on to extol the approach taken by John Paton, who has gained a reputation not only for embracing digital media, but for inviting the barbarians–citizen journalists–into the keep. Paton is a remarkable figure, and is a likely hero in the drama that pits traditional print against new media. His blog Digital First documents his progress in the turnaround of Journal Register Company (and now Digital First Media) over the past year, and provides candid, transparent insights into his thoughts and approach. It is a remarkable journey well worth reading by anyone in the newspaper industry. I very much admire Paton: his fearless dash into the digital world, his unflinching belief in online news revenue, his...

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