Newspapers have a big number, small number problem, says Jim Moroney.
Moroney, CEO and publisher of The Dallas Morning News, says the big number problem is print advertising – let's say 85 percent of overall revenue declining at 5 percent a year. The small number is digital advertising revenue. Even if a publisher has achieved a comparatively strong 15 percent of overall revenue in the segment growing at 10 percent a year, it will take 10 years for digital ad growth to exceed print revenue decline.
"It's hard to outrun that when you're starting with a big piece of your revenue declining in that way," Moroney told publishers at the Key Executives Mega-Conference, a joint meeting of the Inland Press Association, Southern Newspaper Publishers Association and Local Media Association, on Wednesday.
Even though what's coming out of their businesses is faster than what's going in, publishers need to stop cutting expenses, and a big part of that is sticking to their seven-day print schedules, he stresses.
BuzzFeed's Eric Harris and Quartz's Jay Lauf conveyed the lessons the success of their outlets holds for local newspapers, including importance of native advertising and honing in on readers' obsessions. “There are hard choices that need to be made," Lauf says of overhauling newspapers. "Don’t …read more
Having paid and free websites for each of its newspapers may not be enough for Cox Media Group. Mark Medici, SVP of audience strategy and group lead for The Atlanta Journal-Constitution and Cox Media Group, says the audiences coming to the paid and free sites for each of the company's four papers …read more
Nobody can accuse Jim Brady of not putting his money where is mouth is. Literally, now.
Brady, whose last major gig was as editor in chief of Digital First Media, launched his Philadelphia-based civic news startup Billy Penn last October to much media fanfare. After all, Brady is himself a much …read more
Newspapers will need to invest in “relation newsonomics,” or “deep, wide, data-laden relationships with customers” that focus on knowing and producing products that their customers actually want in order to reclaim their place as a vital part of their readers' lives, says media analyst Ken …read more
Sixty-six percent of media sales managers and executive managers surveyed for the 6th annual State of Media Sales survey did not make their goals in 2014, C. Lee Smith said Monday at the Key Executives Mega-Conference in Atlanta. Smith, president and CEO of Sales Development Services and publisher …read more
In the never-ending quest by newspaper and other media organizations to find new sources of revenue, one of the most overlooked happens to be right outside their front door – SMBs: small and medium businesses.read more
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