It’s no secret that media properties—newspapers, in particular—are facing disruptive challenges today. These include the physical cost of newsprint, the explosion of the Internet for information consumption, falling revenues from classified advertising, the loss of print advertising to the web and a general uncertainty of the future of print. This impact has been significant in the U.S. and Europe with ad revenues down 30 percent and job cuts and wage freezes being the norm for the past few years.
The most dramatic of these challenges has no doubt been the uncertainty caused by the shift in consumer attention from print to the online content. This has required media groups worldwide to investigate and experiment with new business models and content strategies aimed at retaining their audience while finding ways in which to effectively monetize their content assets.
With consumers expecting content to be accessible across a myriad of devices (smartphones, the iPad, laptops etc.) it’s vital for media businesses to engage their customers as individuals across all touch points. They must also support the demand of both corporate and user-generated digital content in growing communities – faster, efficiently and more consistently.
Today’s news properties compete aggressively online for the attention of consumers and are compelled to move beyond their traditional news delivery capabilities to support this rapid transition to online content consumption and communication. News outlets are now required to offer a trustworthy engaging community-driven experience with the delivery of personalized content, offers and promotions, in order to increase readership and create new revenue opportunities. [Read more…]