Date

Thu - 21.09.2017


business model

The Press Complaints Commission, the British regulatory body for newspapers and magazines, announced it has noticed a lapse in the accuracy of reporting as journalism heads online, with a record number of complaints in 2008, according to Press Gazette. The Commission is also wary of the affects recent cutbacks at newspapers will have on journalistic standards.

As part of its annual report, the PCC published the details of its 4,700 complaints for 2008, an 8 percent increase from the year before. For the second year running, online stories were the source of a majority of the gripes.

According to Press Gazette, departing PCC Chairman Sir Christopher Meyer noted, "We've noticed some wobble in standards in areas of online reporting where it's clear the pressure of time and the 24-hour news cycle may have led people to put up stories which haven't been thoroughly vetted."

Meyer also attributed the record number of complaints to the success of self-regulation. He noted the success of the transition of the PCC into a multi-faceted department for public information on the media. "We have morphed from being purely a complaints service to be a citizens' advice bureau on the media," he said.

Author

Leah McBride Mensching

Date

2009-03-18 09:33

The Pew Research Center's Project for Excellence in Journalism today published its annual report on the State of the News Media labelling 2009 as the "bleakest" it has seen since the group began doing annual studies six years ago, AFP reported. The report describes U.S. newspapers as "perilously close to free fall" and in desperate need of an economically viable business model to survive in a digital world.

The report offers insight into the business lives of newspapers, online media, network, cable and local television news as well as news magazines, radio and the ethnic press.

Weekly news magazines and daily newspapers are in the most trouble, according to the report. "The newspaper industry exited a harrowing 2008 and entered 2009 in something perilously close to free fall," stated the report's authors, according to AFP. "But the deep recession already threatens the weakest papers. Nearly all are now cutting so deeply and rapidly that simply coping with the economic downturn has become a major distraction from efforts to reinvent the economics of the business."

Author

Leah McBride Mensching

Date

2009-03-16 20:07

Publishers and media groups that started restructuring their businesses before the economic downturn will be able to better weather the economic storm, and be better equipped to adapt to new challenges in the future, according to a new study by advisory firm Ernst & Young, journalism.co.uk reported Wednesday.

"Advertisers will be quicker to increase adspend during the recovery this time around," the report stated. "With advertising rates expected to fall throughout 2009, with the recovery, many advertisers will see some traditional platforms as good value for money."

The report predicts national titles and niche consumer magazines will do well, while regional newspapers, commercial TV and radio would be most affected, as they are more likely to rely on more traditional advertising.

The report added that investing in digital media will be key to survival. However, with the economic downturn affecting digital media as well, investing in an online business at an "offline" price may be the way to go, the report states, according to journalism.co.uk.

B2B titles in particular will benefit from subscription-based models, but it remains to be seen whether they can maintain these revenues in 2009 2010, according to Ernst & Young, which added that titles specialising in retail, construction, finance and automotive sectors will see the most difficulty.

Author

Leah McBride Mensching

Date

2009-02-11 18:54

The New York Times on Tuesday published a "battle plan" for newspapers to survive the migration of advertisers and readers to online, a problem made even worse by the current financial downturn.

Daily newspapers are looking for ways to survive in the short term, and envisioning what business will be like the the future. Experts in varying parts of the industry wrote opinion pieces for The Times laying out their best ideas.

Below is a list of contributors. For the complete version, visit the article on The New York Times Web site:

Nicholas Lemann, dean of Columbia Journalism School: Newspapers need a support system, and it's essential that "we be precise about the social function we need to strengthen, and create and non-doctrinaire about how to strengthen it."

Joel Kramer, chief executive and editor of MinnPost.com: "Rely much more on revenue from readers. Publish a newspaper worth $2 a day, the price of a cup of coffee, and $5 on Sunday. Raise the quality. Make it more in-depth, more analytical, to complement the immediacy of your free Web site, and do not make that deeper, more insightful coverage available for free on the web."

Steven Brill, founder of The American Lawyer magazine, Court TV and Brill's Content: "... papers have to find a way back to being paid."

Author

Leah McBride Mensching

Date

2009-02-10 22:40

Beginning in May, U.S. news magazine Newsweek will undergo a major makeover, including a new design, changes in its content, targeting a wealthier audience and higher subscription fees, The New York Times reported Sunday.

Newsweek Chief Executive Tom Ascheim said this core segment constitutes 1.2 million subscribers who will pay around US$50 per year, compared to what all subscribers currently pay, which is less than $25 per year.

Newsweek's current mass audience is shrinking, and a "move toward not just analysis and commentary, but an opinionated, prescriptive or offbeat take on events" is hoped to boost readership, according to The New York Times. The news magazine also plans to bank more heavily on big-name writers like Christopher Hitchens, Fareed Zakaria and George Will. By making itself a niche magazine, Newsweek will be competing with other niche titles, such as The Economist, The Atlantic Monthly and the New Yorker.

The decision to revamp Newsweek has been welcomed by parent organisation the Washington Post Company, as well as industry analysts, as plummeting circulation and advertising have caused the magazine to become unprofitable

Author

Leah McBride Mensching

Date

2009-02-09 23:10

MySpace has launched an advertising strategy that positions overlays at the bottom of music video clips, permitting users to either purchase the songs they listen to or proceed to the artist's Web site, Tech Crunch reported Friday.

The project stems from the social network's partnership with Auditude, a content detection and management firm which offers advertising relevant to rights-protected material that it detects.

Previously, music clips were employing "banner ads and static text links to music stores for monetization," the Tech Crunch article stated. The overlay ads may be successful because they may not resemble ads per se, but offer information about the song or artist.

Last week, MySpace saw a 1.2 percent click-through-rate within 24 hours for an overlay ad used in a clip of My Chemical Romance, which is "significantly higher than rates on typical banner ads," according to Tech Crunch.

Google's YouTube launched an advertising initiative of a similar nature less than a month ago, allowing users to include overlays in videos. Click-through-rates are enhanced when ads are embedded in content, a YouTube representative pointed out.

Author

Alisa Zykova

Date

2009-02-09 20:04

The year 2009 will be one of reckoning for the newspaper industry, as it will have to come up with a new plan of action, Walter Isaacson, president and CEO of the Aspen Institute, said in a speech on Wednesday. In the past, newspapers relied on newsstand sales, subscriptions and advertisers, he said, and as the new business model relies only on the latter, it "makes for a wobbly stool even when the one leg is strong. When it weakens, the stool is likely to fall."

Newspapers that are solely dependent on ad dollars, instead of on readers, will also begin to cater to the advertisers, instead of serving the readers, Isaacson pointed out in his speech. This will lead to newspapers creating a lot of sections about "gardening and home improvement," while cutting other sections, such as book reviews.

"When a man knows he is to be hanged in a fortnight, Dr. (Samuel) Johnson said, it concentrates the mind wonderfully. Those fortnights are upon us, and I suspect that 2009 will be remembered as the year that newspapers, followed by magazines and other content creators, realised that further rounds of cost-cutting will not stave off the hangman," Isaacson said in his speech, posted on the Aspen Institute Web site.

Author

Leah McBride Mensching

Date

2009-02-06 18:12

As the U.S. government bails out banking institutions and the automotive industry, Tim Rutten states in his Los Angeles Times column that the government should help newspapers too. Not in the form of a bailout, but through an antitrust exemption.

As demand for quality journalism increases, the ability of newspapers to fund that journalism is spiralling, yet newspapers are unable to charge for their content online as long as some are still running free sites.

"That's where the antitrust exemption would come in: It would allow all U.S. newspaper companies - and others in the English-speaking world, as well as popular broadcast-based sites such as CNN.com - to sit down and negotiate an agreement on how to scale prices and, then, to begin imposing them simultaneously," Rutten wrote in his LA Times opinion piece.

If newspapers and other news outlets were able to begin charging for content at the same time, they would then be able to turn to other matters, such as negotiating fees with news aggregators such as Google and Yahoo!.

Author

Leah McBride Mensching

Date

2009-02-04 22:26

One option to ease the financial pain the newspaper industry is experiencing, and perhaps even make newspapers stronger, is to turn them into "nonprofit, endowed institutions," New York Times opinion contributors David Swensen and Michael Schmidt wrote Tuesday.

So far, actions taken by newspapers, such as refinancing debt, selling off assets and cutting staff have been "short term solutions to a systemic problem, Band-Aids for a gaping wound," according to Swensen and Schmidt.

As many, if not most, newspapers are pulled down by debt, all while circulation falls and a profitable business model can not be found for online, Swensen and Schmidt state that newspapers will "find no refuge from their financial problems" as long as they remain for-profit businesses, The New York Times column states.

If newspapers go the endowment route, however, much like public universities, they would be more stable and independent, Swensen, the author of "Pioneering Portfolio Management" and chief investment officer at Yale univerisy, and Schmidt, financial analyst at Yale, believe.

"Aside from providing stability, an endowment would promote journalistic independence. The best-run news organizations insulate reporters from pressures to produce profits or to placate advertisers. But endowed news organizations would be in an ideal situation -- with no pressure from stockholders or advertisers at all," The New York Times opinion piece states.

Author

Leah McBride Mensching

Date

2009-01-28 22:31

The Financial Times has unveiled a new mobile Web site, but has not yet decided on a business model for the new site, paidContent UK reported Tuesday.

Although users accessing the site via their personal computers must subscribe to read more than 20 articles, like the old FT mobile site, the new one allows readers to view everything but one column for free "for the time being," according to FT.

"We've integrated the site with Bango to identify users as they come through. We're keeping our option open in terms of business model - we could go down the micropayment route, we could keep the content free or we could do ad-supported," Steven Pinches, FT product manager, told paidContent UK.

Currently, the FT mobile site, m.ft.com, runs banner ads. However, advertisers are seeking integrated PC/mobile packages, Pinches said, paidContent UK reported.

Author

Leah McBride Mensching

Date

2009-01-28 22:12

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