Let's start with a given: Traditional advertising no longer keeps the lights on. The strategic imperative for newsmedia companies is one of revenue diversification. Of course, revenue diversification can – and does – assume many shapes and sizes.
But for the moment at hand, consumer monetization is in the crosshairs of many publishers as the primary source of untapped revenue. Specifically, it is in persuading consumers to pay for digital content that, heretofore, has been available at zero or nominal cost.
Challenging? Of course.
While we might cut our way to short-term viability, Tom Ratkovich of LEAP Media Solutions says we can't cut our way to long-term prosperity. And the sometimes chaotic efforts to rapidly become "digital first" – rather than "customer first" – led to the disastrous customer experiences and privacy concerns that have, in turn, been manifested in ad blockers and, frighteningly, digital revenue declines at some highly visible publishing companies.
At first blush, content monetization seems a reasonable pursuit. Such pursuit has taken many forms, but two of note include (1) the broad domain of "paywalls" or metering of digital content, and (2) aggressive pricing actions for both print and digital content.
Why does Ratkovich say reasonable "at first blush?" Read this article to find out -- and then learn more at the News Industry Summit!MORE
This is the subject of much discussion and debate, but one dimension of strategy that is universal is time. A true strategy cannot achieve ambitious objectives in the short-term. A strategy is essentially a plan to bring about a desired future and, therefore, requires a long-term, sustained focus.
So why do so many audience marketers look at a short-term metric like cost per order (CPO) to determine whether or not their audience strategy is working?MORE
America's Newspapers – the association formed from the merger of the Inland Press Association and Southern Newspaper Publishers Association – was ceremonially launched October 6 at its inaugural annual meeting in Chicago.
Dean Ridings will be its chief executive officer, effective Nov. 11.
America's Newspapers unites two of the oldest press associations to form one of the industry's largest advocates for newspapers and the many benefits to their communities, civil life, freedom of expression and democracy.
"Newspaper journalism provides a voice for the voiceless, challenges elected officials, shines a light on government, calls for change when change is needed, and exposes corruption and injustice," said Chris Reen, the president and publisher of The Gazette in Colorado Springs who will serve as the first president of America's Newspapers.More
A new association formed by the consolidation of SNPA and the Inland Press Association was officially launched today. The name of the new association will be announced on Oct. 6 at the association's first annual meeting in Chicago.
Edward VanHorn, SNPA's executive director, said that the merger unites two of the country's oldest press associations into a progressive new organization that will use its bigger and more powerful voice to be an unapologetic advocate for newspapers.More