The Media Minute 07.23.2019

By this point, the phrase “fake news” has become as ubiquitous in newsrooms as “election night pizza.”

Looking for ways to monetize your content? Think outside the “repurpose box” with these top 10 ideas pulled from the Niche Stash o’ Awesome!

Opensignal, a mobile analytics company, recently released its analysis of 5G performance in eight countries. According to the report, “5G boosts the maximum real-world download speed by up to 2.7 times 4G users’ top speeds.”

In 2017, Business Insider’s top executives used their pitch at the NewFronts to talk about its short-form video know-how, which could create lines around the block for everything from rainbow bagels to oversized blocks of gooey cheese.

I recently received a fantastic email from a single title B2B publication that I work with: “As of today, we are on track for $452,380 in digital revenue alone. This is a 66% increase over last year’s digital revenues of $271,798!”

A Q&A with Kate Hathaway Weeks on the steps she took to turn the regional magazine into a national media company.

 

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The Media Minute 07.16.2019

When it comes to supporting content, Facebook is the do-it-all platform. From pictures to videos to external links— you can count on Facebook. Before going through some techniques to make your Facebook page stand out, let’s go over some basic terminology of the platform that I’ll use in describing the best practices.

It can be tempting to give in to the summer ad sales slump. It happens with a lot of companies because advertisers go dark as they’re out on vacation or busy with their kids.

The past few years have seen the launch of several news rating services that measure the trustworthiness of news organizations. They have grown amidst increasing concerns over fake news negatively affecting trust levels in news media.

As Prime Day continues to expand — the shopping extravaganza will last 48 hours this year, up from 36 hours last year and 30 hours the year before that — publishers continue to devote more energy to it.

Millennials are forcing marketers to rethink the way they promote products and services. Content marketing speaks to them the best.

While we celebrated our nation’s 243rd year of independence last week, many also mourned the death of a nearly 70-year-old American institution—Mad magazine.

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The Media Minute 07.09.2019

On average, people read ten online reviews before trusting a business. What if you don’t have ten reviews or those ten reviews aren’t the best? How can you get more?

Today we’ve got another Million Dollar Idea for you from our most recent CEO Summit in Denver. Kevin VanGundy shared his tips for focusing your revenue growth strategy no matter the size of your publication.

How often do you hear the line “I’m your regular/loyal reader”, after meeting someone and saying that you work for a certain newspaper? Probably a lot, right?

When it comes to content, The Economist takes the view that value trumps volume, a view that extends to its email newsletters.  That’s why it has honed design and content changes to its two flagship newsletters so they act as standalone editorial products that suit the readers’ needs, rather than launching additional email newsletters.

Many legacy publishers are struggling for the same reasons that traditional, non-digitally native retailers did when DTC brands like Bonobos, Casper, and Warby Parker emerged.

This didn’t take a ton of capital. It just took a lot of willingness on the part of a lot of different folks to collectively figure out what we should do, where are the gaps, and how we can fill them.

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The Media Minute 07.02.2019

My grandparents love to reminisce about the days before the television where everyone would attentively gather around the stereo and listen to a show host entertain through storytelling.

Sales. Selling. Not for everybody. Thick skin required. Every sales rep has their tricks – the little things they do that gives them an edge over others. But the big secret may actually be time, or more specifically, time to close. The faster you can get a yes, the higher your output, and the more money you make.

When it comes to improving profits at print magazines, there’s a tendency to focus on new ways of driving revenue. But while keeping a close eye on expenses can also have a significant impact on the bottom line, today’s environment often calls for a balancing act.

Local TV is trusted and is still the preferred method of getting news (thanks mostly to people 50 and up). But viewership for local TV news continues to decline, according to research released by Pew this week.

With its headquarters in California and sales office in New York, WowYow sits at the intersection of media, advertising and technology.

Media companies are increasingly turning to subscriptions and membership products to rely more on readers and less on advertising revenue.

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The Media Minute 06.25.2019

Licensing can be a source of substantial revenues for publishers. Several publishers have created a sustained revenue stream by entering into licensing relationships with manufacturers and retailers, and extending their brands across a variety of products.

Memberships are hot. And not just in publishing. According to an analysis of Google Trends data, memberships are 33% more popular today than they were just two years ago.

Successful businesses know their customers. Customers’ tastes and preferences dictate the direction of the business in more ways than one. However, many businesses may unintentionally stray away from the requests of their customers simply because they have difficulty in organizing, analyzing and acting on the data customers provide.

Email newsletters are one of the best tools you have at your disposal, but many publications just don’t recognize their potential. Newsletters are one of the top ways to keep your audience engaged with your brand. They drive attention to your website, your social pages, and your legacy platforms. In fact, newsletter readers spend 80% more time on your site.

Who said there’s no money in journalism? Sure, maybe the old ad model is decaying, and maybe hundreds of newspapers are on death watch — but the work-chat app Slack has been able to build a multi-billion-dollar business at least in some tiny part based on its remarkable uptake in newsrooms around the world.

There’s an old Spanish saying – “the belly rules the mind” which is why you have so many business luncheons and corporate dinners! The restaurant business is all about making people happy.

 

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The Media Minute 06.18.2019

For publishers and newsrooms, figuring out how to stay trustworthy, respect your readers and preserve integrity, yet manage to earn enough money to keep the business afloat – remains a great challenge.

Software mogul, golf equipment manufacturer, movie-streaming service, mattress maker, actress, social media behemoth: It seems everyone wants to get into the magazine-publishing business these days. Everyone, that is, except for “real” magazine-media publishers.

As adoption rates continue to increase, so do the number of effective strategies for audio platforms.

I often encounter advertisers who think digital advertising is less expensive than print. Then I spend some time explaining how it’s not an “either-or” mindset.

Welcome to the Digiday Cannes Briefing. Each morning this week, we will bring you the highlights, lowlights and oddities of the Cannes Lions. The Digiday version of the Cannes lion will make his own journey.

There was a huge decrease in gaming industry TV ad spend from April to May, down to an estimated $9.3 million from the previous $29.4 million. Nintendo led with 45.6% of spend, while previous chart-topper PlayStation had 26.8%.

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The Media Minute 06.11.2019

If you were to travel back in time about a half decade and inform news publishers that, within a few short years, they’d be pouring significant resources into growing their email newsletters, many wouldn’t believe you.

Migrating to a new email service provider (ESP) can be one of the most tedious, frustrating, and unappealing pursuits a publisher or email marketer can undertake.

Media companies have figured out that in order to sustain a healthy business model, it’s all about distributing their unique, niched-out content through various channels.

We have reached a point at which paid subscription growth, for many media companies, feels unattainable. I both vehemently disagree and, sadly, agree.

Years ago, a great portion of readers sought out newspapers because they were filled with coupons, job listings and apartment ads. Now, a majority of readers are searching online for those needs.

While some influencers, publishers and brands have access to a feature where users can swipe-up on snaps to buy products directly within the app, this new tool allows select accounts to have a store within Snapchat.

 

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The Media Minute 06.03.2019

Germany’s biggest publishing houses including, Axel Springer, Funke Mediengruppe, RTL Groupe and Gruner+Jahr have come together to form an advertising alliance, reports Digiday.

For the longest time I resisted calling website visitors anything but readers. After decades as an editor and publisher, I pushed back on calling them “users.” I still don’t like the sound of it, but resistance is futile.

A slew of publishers, both new and established, are investing in print magazine launches. We asked three of them why.

Years ago, a great portion of readers sought out newspapers because they were filled with coupons, job listings and apartment ads. Now, a majority of readers are searching online for those needs.

Five years ago, Time Out Group launched a Time Out-branded food hall in Lisbon, Portugal to further diversify away from advertising revenue. Starting this month and through the rest of 2019, the events and culture news publisher will be putting that market concept at the center of its business.

Social media teams who focus on content and content distribution have found themselves a little stymied by Instagram, at least if our data is any indication.

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The Media Minute 05.28.2019

In recent years an increasing number of publishers have been focusing on driving revenue from subscriptions. The most recent one to make the plunge being Quartz which recently announced that it would be putting up a paywall.

Hey Niche Publishers! Who would like to add $378K to their annual revenue?
Rachel Winner-Eberhardt, Advertising Director of Pittsburgh Magazine, posed just this question to attendees at our Super Niche event in Nashville in March. She shared tips on how her magazine maximizes their digital space. (These ideas can easily work for B2B and Associations too.)

If you ask an Amazon Echo how to monetize a voice assistant or smart speaker, it will tell you, “Sorry, I don’t know that one.” Many publishers are in the same boat.

DTC marketers, looking for a more diversified marketing mix, are focusing on direct mail. But for these digitally native brands that have grown up on a diet of Instagram and Facebook, adjusting to a medium with far fewer analytics is proving to be difficult.

It’s hard to go a month these days without seeing yet another report decrying the lack of trust readers have in everyday journalism.
There is no question that the relationship between journalists and the public is on shaky ground.

Walmart has released two very affordable 8 and 10 inch Android tablets, which fall under Walmart’s consumer electronics private brand, Onn. The new tablets rolled out in stores last week and will be available soon on Walmart.com.

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The Media Minute 05.21.2019

Events are one of the many sources of revenue that publishers can tap to create a sustainable business. John Wilpers, Senior Director of Innovation Media Consulting writes in the FIPP Innovation in Media 2019-2020 World Report that most publishers have almost everything required to run a successful event.

Decades of historical precedent suggest that, now that the shortages and price increases of 2018 have ended, publishers should soon benefit from lower paper costs. But don’t hold your breath waiting for history to repeat itself.

Are you being as assertive as you need to be on sales calls? Hmmm, do any of these approaches sound familiar?

“Did you get the media kit?”
“Hi, I’m just calling to check in……”
“Is this a good time to talk?”

Traditional TV viewership may be in decline, but TV ad dollars are not necessarily going away. TV remains a pretty efficient way for advertisers to reach a lot of people.

Meredith Corp. execs touted what they saw as encouraging signs for both print and digital advertising as well as a significant uptick in consumer-driven revenue on an earnings call Friday reporting the company’s performance in the third quarter of 2019 (Meredith’s fiscal years start in July and end in June).

With layoffs, bankruptcies, and fire sales emanating from the digital publishing industry on an almost daily basis, there’s constant debate about whether online media outlets deserve the blame for being out-maneuvered by the tech platforms that destroyed their business models.

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