Hyperlocal profitability, national ads and learning from startups
In this week's Futures Lab update we learn why small information websites may be the future of profitable news, how local news websites might attract more national ads, and what consumer brands can teach us about working with startups.
PART 1: Hyperlocal revenue models
Hyperlocal news and information sites may play a big role in the future of financially sustainable news, according to Pekka Pekkala, a former journalist and now visiting scholar at the University of Southern California. He and a group of colleagues looked at various online news business models from around the world. We hear more from him about the direction in which news business models may be headed.
PART 2: National advertising on local sites
As vice president of digital strategy for Novus Media, a unit of the global ad giant Omnicom, Ron Blevins helps guide the local media strategy of national advertisers. He also helps local publishers increase the value of their advertising inventory. RJI spoke with Blevins about what smaller news sites could do to attract more national ads.
PART 3: Consumer brands and startups
One thing news organizations might learn from consumer brands is to look outside their own walls for research and development by turning to startups. So says digital innovator Kim Garretson, co-founder of Ovative/Group and a current Reynolds Fellow.