Category Archives: Revenue

In Jacksonville, a new business model for the local editorial voice

Downtown Jacksonville, Fla., straddles the St. Johns River. (Times-Union photo)

Back in April, I lamented the steady decline in commitment to local editorials across the shrinking newspaper industry with this post: “Editorials: Headed for extinction?”

It’s a sad story. As ad revenues tumble and newsrooms shrink, so, too, are owners’ commitments to strong, impactful local comment in editorial pages.

Editorials lack any clear business model, so they’re vulnerable to cuts. Never mind that a strong, community-leading editorial voice can be a hallmark of our local brand and a reason we are seen as essential in the community.

In April, I hinted that I would blog on this subject again soon. One of the Morris publishers, Mark Nusbaum at the Florida Times-Union in Jacksonville, was working on an entirely new way to amplify his paper’s editorial voice and build a bold new business model around it. But it was still in development.

Last week it hit homes and businesses in Jacksonville. Read the rest of this entry

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The next media disruption tool: Predictive analytics

Yeah, sure — Big Data. We get it, right?

We all know that the digital age is producing huge amounts of data about consumers and their behavior. And, sure, we know that anybody who’s in the marketing and advertising business — like local media companies — needs to get good at it. Right?

Hand drawing Lead Generation Business Funnel concept with white chalk on blackboard.

Not that we’ve quite learned how to do it yet. But surely we know — don’t we?  — that we simply must master it to benefit both ourselves and our customers? And we’re working on it, right?

Well, I am. I hope you are, too.

Why? Because somebody is going to bring Big Data to Main Street. If it’s not us, Big Data will be the next big wave of disruption in our advertising and marketing business. It’s guaranteed to whittle down our local media ad revenues still further. Read the rest of this entry

Can local media find a new home in real estate?

Ah, real estate. It used to be such a wonderfully profitable sweet spot for newspapers, back in the dear, now-dead days before the Web. And now it’s just a shadow of its former self.

The real estate business itself is doing okay these days, although it always has its ups and downs. It’s print real estate advertising in newspapers that’s been deeply and permanently disrupted.

The question I’m trying to answer these days is, isn’t there another model through which local media companies can play key roles in the real estate market? Read the rest of this entry

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

Local media need to think bigger about the Big Data opportunity

Data, data, data. From every direction lately, I’m being hit with urgent reminders about the imperative for local media companies to master data.

Every day, I’m more convinced: This is the next wave of threat — or opportunity — for local media companies. That’s how disruptive innovation works — you either grab the opportunity, or you are overrun by it.

As Big Data marches down upon us, I’m reminded of Longfellow’s poem, “The Midnight Ride of Paul Revere.” It tells how, on the eve of the American Revolution, patriots gave warning of the British Army’s advance by hanging lanterns in the belfry of Boston’s Old North Church:

“One if by land, two if by sea.”

I’m hanging out three lanterns. Big Data is bearing down on us right now — by land, by sea and from every other direction. Read the rest of this entry

10 years later: Seven disruption lessons from Newspaper Next

In the fall of 2006, as the Internet was devastating the newspaper industry in earnest, the American Press Institute unveiled a new program to push back against the disruption.

We called the project Newspaper Next, and its first report was called Blueprint for Transformation.

Ten years later, what did it accomplish? And what should we still remember from that body of work? 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

See Big Data and glimpse the future of advertising

I’ve been getting a series of demos from Big Data providers as we at Morris Publishing Group work to figure out how we will offer Big Data services to local advertisers.

Just lately, we’ve been getting down into the details. For me, this brought a profound leap in comprehension.

It was like staring  into a crystal ball and seeing a monumental event that’s about to change your life. 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

How legacy media reps can — and must — sell more digital

How can we sell more digital? In traditional media, that question has been pounding us for years.

It’s in our heads, in our meetings, in our training, in our budgeting. Few of us are growing our digital revenues at rates anywhere near the growth rate of digital spending.

And one of the toughest challenges has been getting our core sales reps to present digital advertising and marketing solutions effectively to their existing customers.

Read the rest of this entry