Category Archives: Revenue
In the local media business, whatever hurts retailers hurts us, too. They’re feeling a big hurt right now, and we need to help them fight back.
That big hurt is a steady and continuous decline in store traffic. This means loss of sales, and that leads nowhere good for them — or for local media.
- Figuring out how the business has to change.
- Changing behaviors in the organization to get the new things done.
As most people in the newspaper industry can testify, both of these are difficult and relentless. There’s no “one and done” in a disruption as massive as the digital revolution.
And, unfortunately, success at No. 1 is no guarantee of success at No. 2.
Over last three years, I’ve blogged frequently about No. 1. This time let’s look at No. 2. Read the rest of this entry
What does the local media company of the future look like?
At this point, the answer is pretty clear. There will be two kinds of media companies:
- Those that continue to focus on their traditional media channels — newspaper, broadcast television channel, radio station(s) — and therefore shrink along with the advertising spending on those media.
- Those that morph into local media houses that can connect any advertiser with any audience, through platforms, technologies and channels they own or don’t, to win dollars that are moving into digital advertising and marketing.
“I want my ad to go right here,” Jerry Coolman said. He pointed at the middle two columns at the top of the newspaper page — right in the middle of an article. He wanted his ad for lawn tractors to hit readers smack between the eyes.
“Jerry, we can’t do that,” I said. “That’s the reader’s space — we can’t plunk an ad down in the middle of it.”
That was 1983. Now, 30 years later, it turns out we can plunk an ad down in the reader’s space. It’s being done more and more, and it’s being called by a new name: “native advertising.” Read the rest of this entry
About five years ago, on a weekend, Derek May — then publisher of the St. Augustine (FL) Record — was doing what many publishers were doing at the time: Trying to figure out the steep decline in advertising revenue he was seeing in his unit’s financials.
What was the main cause of the decline? The recession was the driver, of course, but was it mainly hitting certain categories of advertising? Certain types of advertisers? Big advertisers? Small advertisers? Read the rest of this entry
To someone who only has a hammer, everything looks like a nail. In the newspaper industry, the hammer we have is news. And right now, the new nail is mobile.
With mobile usage exploding, our industry is determined to pound that nail with news as hard and fast as we can. It looks like a must-do, a matter of survival, and — we hope — a new opportunity to reach people, sell advertising and make money. But mobile is not the nail we think it is. Read the rest of this entry
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
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