Category Archives: Consumer revenue

Is the events business right for media companies?

Croud at exhibitionMany local media companies are viewing events as a great way to bring in new revenues and support the future of journalism.

And the industry has seen some notable successes. Jason Taylor’s energetic advocacy has lit up many a convention stage since he started as president of the Chattanooga Time Free Press in 2007. And Brent Low, CEO of Utah Media Group in Salt Lake City, has made events a cornerstone of his diversified revenue model since he was publisher in St. George, Utah, more than a decade ago. Read the rest of this entry

Thought experiments can put us ahead of the media disruption curve

Let’s try some thought experiments, in the best tradition of Albert Einstein.

The hypothesis we’ll explore is this: That the large, lucrative revenue stream that newspaper companies have enjoyed from major/national advertisers will decline to something approaching zero.

Our thought experiments will examine what we should do about that. Read the rest of this entry

Take a disruption lesson from Procter & Gamble

PGPhaseLogoWhat could disrupted legacy media companies possibly have in common with Procter & Gamble — the huge and perennially successful consumer goods manufacturer?

One thing we have in common is that we both need to recognize and plan for the continuous loss of revenue from declining products.

We don’t think of P&G as needing to cope with fading products as an endemic part of its business. But 10 years ago, when I was leading the Newspaper Next project for the American Press Institute, I learned that part of their success lies in the careful planning they do to offset those declines.

We in the media business can take an important lesson from P&G’s approach. Read the rest of this entry

Local retailers need e-commerce, so let’s give it to ’em

The 2015 Top 500 Guide, now in its 12th edition, ranks the 500 leading web merchants in the U.S. and Canada by 2014 online sales and other key metrics. (PRNewsFoto/Internet Retailer)

A recent email from Internet Retailer grabbed my attention.

Its purpose was to plug their new annual Top 500 Guide — a huge directory packed with stats on who’s big in e-commerce, who’s growing market share and who’s not.

But what caught my eye was their take on what’s new in the data.

For years, it said, previous guides had shown big-box stores getting drubbed in e-commerce sales by web-only e-tailers.

“But,” the email said, “…that began changing in 2013, when the chains closed the gap by growing their online sales by 16.7%, taking market share away from manufacturers and catalogers…. Read the rest of this entry

Recruitment can be a land of opportunity

Say the word “recruitment” and most newspaper executives groan. Over the last seven or eight years, our revenue in this space has shrunk to a fraction of its former size, and it’s still slipping.

At Morris Publishing Group, we’ve been looking hard at this vertical for several months. We’ve been trying to figure out two things: How can we do better at what’s left of our existing business, and how can we create new wins in this space?

We’re beginning to see path ahead, so it’s a good time to share some of what we’ve learned. Read the rest of this entry

Four huge takeaways from Borrell’s “The Future of Legacy Media”

When your industry is undergoing massive disruption, getting a glimpse of the future is priceless. The more you know about where things are going, the smarter you can be about what to do right now.

For that reason, the report released earlier this month by Borrell Associates — “The Future of Legacy Media” — should be required reading for everyone responsible for the health and sustainability of any legacy media business in the United States and Canada. Read the rest of this entry

Desperately needed: More innovation on the audience side

Just how disrupted is the old newspaper business model — the model that’s centered on providing news to a geographic market?

A lot more disrupted than many people in the news media think.

The local media industry is scrambling to innovate around sales. This is seen, for example, in the race to create new digital sales teams and agencies selling digital marketing solutions to small and medium businesses. And the industry is innovating around costs by consolidating, outsourcing and otherwise whacking at the high costs of producing and distributing its products.

But I don’t see a lot of innovation happening around the content model that’s been the basis of the newspaper business for the last 100 — even 200 — years. Read the rest of this entry

Price hikes on content — and then what?

As more and more newspaper companies charge more and more for their content, it’s important to ask — how are they using the money?

Read the rest of this entry