News Startups & Innovators Panel | Mark Potts, Newspeg | Journalism Interactive

Media StartupsA Love Story

Mark PottsJournalism Interactive ConferenceApril 4, 2014

“Why do you keep doing this?”

Two Things to Know About Media Startups

1. They’re very easy to do

2. They’re very hard to do

Why Media Startups Are Easy

•Cheaper than ever to get started• Off-the-shelf technology

•Business tools for dummies• Quickbooks, etc.• Collaboration tools

•Marketing head start• Social media• Media covering media

Why Media Startups Are Hard

• You have to find an audience and get traction• In search of the hockey stick

• You have to have a sustainable business model• Advertising usually isn’t enough

• You have to make money• PS: Non-profit is a tax-status, not a business model

• You have to raise money

• Most startups FAIL

•A “pop-up startup”

•Startup costs: <$1,000, volunteer labor

•Marketing via social media, press

•Collaboration with Reynolds Journalism Institute

•“Pinterest for news”•Saving, sharing news stories

• Social news curation

•Emphasis on headlines, news brands• Potential for publisher partnerships

•Business model: Ads, data, partnerships

Member Profile Page

Pegging a Story

Newspeg Bookmarklet

Now the Hard Part

•Fine-tuning the product

•Building the audience

•Proving Newspeg can be a business

•Finding partners

•Raising money

“Why do you keep doing

this?”•It’s a great challenge

•The chance to create something new

•The ability to call your own shots

•The (slim) chance to make a lot of money

•It’s (mostly) great fun

Media StartupsA Love Story

Mark PottsJournalism Interactive ConferenceApril 4, 2014