East Coast vs. West Coast: Newspapers in Flux
March 4th, 2009Author: John Ratcliffe-Lee
With news breaking this week that the Old Gray Lady is dipping her toe in the lucrative hyperlocal news market and looking to breathe new life into a business that is being squeezed from all sides, Mike Davidson paints a completely different picture out in Seattle with the Post-Intelligencer grasping for air.
While the Times is hopefully heading in the right direction (towards turf that Baristanet and Patch are vying for as well), Mike points out some great ways any news service can become more relevant:
Getting smaller and staying local
Many privately held businesses and all publicly held ones require growth. It isn’t enough to turn a healthy profit every year. If your business isn’t growing, your management is questioned and your stock declines. The first step in keeping local news viable is realizing that it may not be much of a growth business, and it may be quite a bit smaller of a business than it has been in the past. These two factors do not bode well for the prospects of publicly held local news companies in the future. Imagine the P-I as something more along the lines of what Cory Bergman has built with his network of neighborhood blogs like My Ballard. I would argue a fully built-out neighborhood blog network like this is more valuable than what the P-I currently has. Nothing against the P-I’s website… it’s great… but it doesn’t pull me in as a citizen of my neighborhood. It’s a conventional mix of local stories that usually aren’t that local to me along with national stories I prefer to read on sites like msnbc.com instead.
Local news companies need to concentrate on creating communities of people who talk to each other, not just people who read the news and leave. Where you can connect people, you can make money.
Make something that’s worth paying for again
I may not pay for every author I happen to read on a daily basis, but there exists a collection of more than a few people on my blogroll who I would pay $5 a month to read, if it were exclusive. I’ve always been bearish on paid content as a model, mainly because you could usually do better with advertising, but with CPMs dropping through the floor, I’m not convinced that is necessarily the case anymore. What I’d like to see attempted is positioning a publication as more of a “discussion club”. Heck, maybe you even can read the content for free, but in order to join the discussion, you need to be a paid club member. With membership also comes social events around town, swanky garb, and other niceties to help you rationalize your modest membership fee. I always thought the New York Times should have done this with Times Select.
Bear in mind, I’m not suggesting just throwing up a pay wall. That would not work. The idea is creating bits of value — in addition to content — that people would gladly pay several bucks a month for.
Partner with your people
As a great business, your customers should be your best partners. In the case of news agencies, this doesn’t need to stop at readers evangelizing your publication for you. In many cases, they are actually willing to help you run it. Why have a staff of 150 when you can have a staff of 15 and engage your community to help produce a lot of the content? People like doing things that benefit their community. Make sure your business is seen as a way to do that.
The future of journalism may be in pro-am publishing
Be sure to click over and read Mike’s entire post. Lots of great insight and comments not just on ways to “save the news” but also why this is happening in the first place.
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Tags: Hyperlocal, News, Newspapers, Publishing
