Adapting News Media for the Digital Age

presented by Laura Rich, CEO, Street Fight CMBAM 2016

Denver

Who Am I: Laura Rich

• 8 years in print news publishing

• 7 years in digital news publishing

• Adweek, New York Times, Condé Nast, Inc.com, Fast Company, The Industry Standard

• 7 years as media entrepreneur

CEO/Co-founder,Street Fight

streetfightmag.com @streetfightmag

@laurarich

Who Am I: Street Fight

• Launched in 2011

• Industry audience

• Well-known, well-regarded digital property

• Three-legged revenue approach

• Little emphasis on digital revenue

Who We Are: Street Fight

• “Inside the business of hyperlocal”

• Local media coverage

• Analysis of new digital marketing strategies

• Mission: To put a spotlight on the winningest business models

… where the most exciting ideas and best business strategies in local digital marketing converge

Our goal is to be the premier digital resource for all news, information, events and community pertaining to the practice of local marketing

Who We Are: Street Fight

Overview

• State of news publishing approaches

• Trends encroaching on current models

• Countering and conquering the trends

• Making changes

• Brainstorming adaptation strategies

State of News Publishing:Declining Print Readership

Source: New York Times Innovation Report, 2014

State of News Publishing:Declining Print Readership

Source: New York Times Innovation Report, 2014

State of News Publishing: Local Print & Digital Lags in Revenue

State of News Publishing: Declining Print Dollars

State of News Publishing:Increasing Digital Spending

State of News Publishing:Advertising Offerings

Source: HubSpot, “Digital Publishing Benchmarks Report,” 2015

State of News Publishing: Revenue Streams

Source: HubSpot, “Digital Publishing Benchmarks Report,” 2015

State of News Publishing:Pricing

Source: HubSpot, “Digital Publishing Benchmarks Report,” 2015

State of News Publishing:A Move to Mobile

State of News Publishing:A Move to Mobile

State of News Publishing: Breaking on Twitter

Countering & Conquering the Trends

Source: HubSpot, “Digital Publishing Benchmarks Report,” 2015

State of News Publishing: Revenue Streams

Source: HubSpot, “Digital Publishing Benchmarks Report,” 2015

Trend: Ad Blocking

Trend: Ad Blocking

Countering & Conquering the Trends: Ad-Blocking

• Charge money

• Ask to “whitelist” your site

• Block users who block you

• Change the code

Countering & Conquering the Trends: Ad-Blocking

Countering & Conquering the Trends: Consider Your Assets

• Strong brand • Strong relationships • Talented writers

Countering & Conquering the Trends: Increasing Engagement

• Get in the social game or go home • Make sure you’re on mobile • Create newsletters (build your list) • Send news alerts to your email list • Allow comments • Actually read the comments

Countering & Conquering the Trends: Events, Events, Events

“Tribune, Utah Media Group, Emmis Communications and more are seeing profit margins up to 50% and revenue well into the

seven figures. It is a no-brainer (but can’t be handled by existing staff.) Billy Penn, the digital start up in Philly, built events into their

business model from day one. Events account for more than 50% of their revenue. This is a must-do for local media companies.”

— Nancy Lane, president, Local Media Association,

interview on Street Fight, February 2016

Countering & Conquering the Trends: Events, Events, Events

Source: HubSpot, “Publisher Events: The Future of Media Revenue?”, 2016

Countering & Conquering the Trends: Go Social & Mobile or Go Home

Countering & Conquering the Trends: Long Live Long-form Journalism

Source: New York Times Innovation Report, 2014

Countering & Conquering the Trends: Packaging

• Creates a broader and stickier experience • Gives new life to older material • Great opportunity for sponsored content offerings

Countering & Conquering the Trends: Millennials May Be the Answer

Source: Media Insight Project, 2015

Countering & Conquering the Trends: Consider Digital Video

Countering & Conquering the Trends: Consider Digital Video

Transforming Your Organization

• Mission & Metrics Increase goals around new revenue streams Evolve mission to emphasize community and communication

• Staffing Sales staff conversant across a range of channels Versatile editorial staff Consider in-house events staff

• Budgeting Invest in longform journalism, events, video, sponsored content Decrease spend on print products

• Mindset Spokes on a wheel Know the hub of your wheel

Brainstorming/Group Session

• Pick one area to implement • (Why it’s the right one for your organization) • Elevator pitch on the idea • Resources you need • Metrics/goals for success • Revenue targets - sponsors, students, etc.

Thanks!

CEO/Co-founder,Street Fight

streetfightmag.com @streetfightmag

@laurarich laura@streetfightmag.com