Saving the news media industry one iPad at a time
Who should be paying the professional content providers? News media players know they have to be online, generations are abandoning traditional papers by the thousands. So traditionally this means abandoning the subscription mindset and this income channel. Ironically cruel is the delay in online advertisers jumping on board. Naturally this process is occurring gradually.
Thankfully, distribution is cheaper online, no printing presses here or trucking tones of trees throughout the city. But wait consumers themselves are now a threat. Who would have thought that an individuals daily activities would become news in sites like Facebook and Twitter. This news is not only relevant, it’s personal and this is a powerful and addictive attention grabber.
So who Is getting paid? Downstream the ISP controls the tap and they are technically getting paid for the service but really for content. The grand filters such as Google, Bing, Yahoo etc have carefully managed advertising models that ensure they get their piece of the pie as users are in transit. So again technically they are getting paid for content. Unfortunetly, the media content provider is at the end of this sales cycle and it shows. Whats the answer?
One option is to move closer to the start of the cycle cutting out the intermediaries. NZherald are developing closer relationships with consumers thanks to sexy applications on the likes of new devices like the Ipad. Here the relationship is simpler and the journey more consistent with traditional brand loyalty equations. Delivery of content is fast, direct and potentially controllable. This is where I see the greatest benefit for news media at this time and the expansion of news ready handheld devices will drive rapid growth.
So dear news media you have served us well, and while we may be excited about sharing our own personal news and views it’s not the end as long as you can see the potential in mobile devices and the new web 2.0 interface. Now if only we can convince the service providers to give us the data.