Rethinking everything – products, platforms, customer acquisition strategies, revenue streams, etc. is key to success. Confronting and responding to industry challenges is also essential. A panel of publishers shared their thoughts on a variety of topics related to the news media in an interactive discussion facilitated by NMA Chairman Michael Klingensmith.
- Successful non-traditional revenue generating streams include book publishing, digital obituaries, full-service advertising agency, digital marketing agency, and events – including the ticketing portion.
- Top business concerns include the ability to hire and retain good staff, and the future of insert business.
- Competition includes effective streaming services, startups from recent college grads, Nextdoor app, and sites like “The Athletic” that provide a high-quality user experience.
- The news media industry has many strengths including recognizable branding and strong reputation, meaningful relationships with the community, and the large number of readers who access our products through a variety of platforms.
- Business opportunities include the pursuit of former advertisers and lapsed subscribers, B2B clients, and non-profit organizations.