Lessons learned while building the Fastest Growing Media family City Digital

Lessons learned while transforming legendary

CITY Magazine to the fastest growing

media family City DigitalSerial entrepreneur

Ilkka O. Lavas15.10.2013

Media Digitalization: City DigitalHow did we jump to Finnish top10

list in 11 months

Transformation from suffering print magazine into Growing and Successful City Digital Media Family

Ilkka O. Lavas• Started 1st company 17 years old• 2 books about entrepreneurship• Partner, board member, investor

– Portfolio of 15 businesses– 10+ aquisitions done– 3 exits

• Young Entrepreneur of the year 2009 in ’Southern Finland’

• 34years, 2 boys, 1 wife, 1343 fb connections, 1236 linkedin conns, twitter @lavas

• ”Guy Kawasaki of Finland”

Скидки круглый год

Portfolio

It all started when we got

research* results that we already reach large age-scale of people

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Lesson 1#• Never underestimate how digitalization affects to

the media culture.• Even your grandmother may be using iPad• Media usage is fragmented• We read curated media rather than single medium• We follow and consume sites that our friends are

suggesting and linking

Earlier in history 1900- business process: Press –> Delivery –> ConsumerDigitalization 2000-: JOURNALIST –> CONSUMER

Media fragmentation is on our side

Photo: Inside Australia, sculptures by Antony Gormley, Lake Ballard, Western Australia

What is City Digital ?

What City Digital is?

City Digital is family of medias, focusing on quality journalism, City –life and phenomenons.

City Digital reaches Finnish digital elite 20-45-years, who spend all of their money and free time in themselves. City users are active and trendy.

City Digital sites:

We need new thinking. Blue ocean strategy: We are family. Media family.

Growing Media Family is stronger together. We learn from each others.

Business model transformation

• 1985-2012• Business: print magazine

• Area: Helsinki, Tampere, Oulu, Vaasa, Local• Customers:

Locals, Finnish Advertisers• Circulation 200k-450k

• Visitors on web site 100k• Content creators/journalists: 20

• 2012-2013 (11 months)->• Business: Media Family

”the record company of web sites”• Area: Finland, w/ Global startups• Customers:

Local brands, Finnish Advertisers, Global Advertisers

• Circulation: 1100k / Magazine• Visitors on web: 500k/week• Content creators/journalists: 150

City Digital visitors• Weeks 37-40/2013 avg

(TNS Metrix)• Uniques visitors 427 789• Unique browsers 509 819• Page views 1 778 858

Lessons #2

Bloggers are new media stars. • Journalists have to learn how people are consuming

media• Power of traditional media is shrinking, #fashion trends

are arising from blogs and on streets• Single blog post can sell more than front page of the

biggest national traditional newspaper

in 11 months

Transformation from suffering print magazine into Growing and Successful City Digital Media Family

Lessons #3

Anyone can be a mediastar• Anyone can start new media business in minutes• Innovators and entrepreneurs are new

mediamoguls• Need for Media Families ”the record companies

of fragmented media ages” arise

City Digital

Cross MediaMarketing

MixOnline-Offline-Radio-

Live-Print-Venue

Lesson #4

We don’t need traditional TV anymore to create phenomenas. • Online video consuming is growing• Videodisplay advertising is more popular• Biggest TV ”channel” is Youtube

City Digital

Organizing Movie nights

and great Parties

We reinvented the process of creating City –print Magazine

Online journalismWe publish everything first in our online medias. We measure everything. Likes, shares, comments

to know what people want to read.

500k weekly

On demandPrinting1.000.000 pcs ofprinted mags

Co-operation w/ SummerUP festival30000 guests

New ways for journalism

Journalism becomes more visual• We have notices that ”old-school” journalism is not working for everybody. We

need new ways for touching people:• Feelings journalist, creates stories that makes you feel something• Videojournalism is growing fast• Need for new job titles, i.e. instagramjournalists, hashtagjournalists,

twittercurators and Facebook managers, Community managers• The more and more media fragments, the more we need curators• Amount of freelancer bloggers is growing• Amount of professional bloggers is growing

We trust inpower of the people

and wisdom of crowds.

Think Digi-first. Digitalization is on our side.

Media Digitalization is global opportunity

www.citydigital.fiwww.ilkkaolavas.com

Ilkka.lavas@city.fiTwitter: @lavasFacebook: IlkkaLavasGsm +358 400 997969www.city.fi/profiilit/lavas/blogihttp://www.linkedin.com/in/ilkkaolavas