Turning ideas into dollars: The search for new business models
The closing session of the 2013 News Industry Summit will include a report on the Pew Research Center's search for new business models. The study ranged from sales force restructuring to rebranding the print product to Web consulting for local merchants. Case studies will be presented.
|Mark Jurkowitz||Steve Falk|
This session will be led by Mark Jurkowitz, associate director of the Pew Research Center's Project for Excellence in Journalism, and Steve Falk, president and CEO of Sonoma Media Investments, which operates The Press Democrat.
As part of a revamped business plan, The Press Democrat (circulation 53,292) developed the Media Lab, a sophisticated digital agency that provides a full range of online marketing services to merchants. In its first year, the lab accounted for roughly 25 percent of the paper's digital revenue and is expected to grow revenues by about 60 percent this year.
Jurkowitz, who wrote the Pew report, will present the case studies of the other three newspapers that participated in the study:
- The Naples (Fla.) Daily News (weekday circulation 44,876). After the publisher and his managerial team overhauled the composition of the sales force and its operating philosophy, the paper saw overall revenue growth in 2011 and 2012 – with print revenue a key part of the success story. The paper's leadership calculates that the sales reorganization is responsible for about a 10 percent increase in ad revenue.
- The (Salt Lake City) Deseret News (circulation 91,638). Former Harvard Business professor Clark Gilbert engineered a major reorganization of the Deseret Media properties, building a digital company, creating a new – and more narrowly focused – editorial identity for the newspaper and unveiling a weekly national print edition. Digital revenue has been growing at over 40 percent a year since 2010, while daily and Sunday circulation jumped about 33 percent and 90 percent respectively from September 2011 to September 2012.
- The Columbia (Tenn.) Daily Herald (circulation 12,744). This small, but aggressive daily in an economically hard-hit Tennessee community rolled out more than a half dozen new revenue ideas in 2012 alone, some in print, but most in digital. The resulting growth in online revenues allowed the paper to keep overall annual revenue losses well below the national average – about 2 percent in 2012.
Set for Oct. 13-15 in Sarasota, Fla., this conference is a must attend for newspaper publishers, key staff, corporate executives and companies whose customers are newspapers.
The Summit opens on Sunday, Oct. 13, at 2 p.m., with a keynote address on strategies for navigating in an industry that won't stop changing.
For full conference details, click on the links below: