- Several major media companies have reported their 2nd quarter figures, so what did we learn?
Nothing new at the New York Times, says Peter Kafka: print and digital ad revenue are declining; paywall-fueled subscription revenue is increasing. And Gannett reported that advertising demand has been “choppy.”
PaidContent’s Robert Andrews says that while traditional media companies are frustrated by the slow, uneven growth of digital ad revenue, that’s only because they had grown accustomed to the huge margins of print advertising. Younger companies don’t have the same bias:
Twitter, Tumblr, Facebook, Foursquare and others are embarking on an ad-funded trip for the first time, finding it to be laced with ever-growing returns. As new outfits, they have no memories of analogue ad boom days to recollect, only dreams of milking what, to them, looks like the onset of a new boom.
Not-quite-legacy AOL, meanwhile, touted that its revenue is declining slower (congrats?) and announced changes to Patch that will emphasize listings and social networking:
“You could call it community networking,” [CEO Tim Armstrong] responded. As for the listings business, he was asked if Patch was trying to build a competitor to Craigslist. “Craigslist and other companies like that that sell used merchandise haven’t really scaled into communities,” he said. “They’ve been very metro-focused. One of the opportunities for Patch…is the ability for us on the commerce side to offer the people the ability to do listings and other things like that locally.”
- Magazine publishers released their September ad counts this week:
While some titles â€” Elle and InStyle â€” crowed this week of breaking their own records for the all-important September issues, other publishers are contending with advertising figures for the month that are much softer than expected â€” and certainly shy of their halcyon prerecession days. For publishers, it was another stark reminder to put a premium on digital sales â€” and also e-commerce, licensing and tablets.
- BuzzFeed CEO Jonah Peretti shared his thoughts on respecting readers, among other topics, in an email to employees and investors. What’s the lesson here?
Even the Buzzfeed guy thinks you’re an asshole for publishing so many slideshows. cdixon.org/2012/07/24/buzâ€¦
— Ben Welsh (@palewire) July 26, 2012
One way of showing respect for readers, says BuzzFeed editor-in-chief Ben Smith, is to rethink the traditional wire story:
The old model, where wire stories run 2-8 paragraphs with varying degrees of fresh reporting, doesnâ€™t work when people are exposed to so much information on a continued basis, Smith said. â€œThereâ€™s no audience for â€˜Hereâ€™s this thing you just heard and Iâ€™m going to say again,â€™â€ he said.
Journalism has always been about speed and precision, but as the place for that has shifted from stories to blog posts and now social media, Smith said journalists have to be more creative in the ways they deliver vital information. They also have to make better decisions. Living and writing in the current news environment means calculating the costs and benefits of working on a â€œsecond-rate aggregated version of what someone wrote 20 minutes ago,â€ versus pursuing an original story, Smith said.
- What will the future of online video look like? The publishers of several major media companies share their thoughts.
- What about the future of advertising? Megan Garber reports on a Dunkin Donuts campaign which used fragrant ads, and confirms that “the future of advertising smells like delicious, delicious coffee.”
- Gannett’s Greenville News is trying to lure readers back after its paywall drove them away.
- Can Kickstarter crowdfund journalism? Maybe. Maybe not.
- The new app JReporter says it can help local news orgs get cheap content from citizens, which can then be monetized.
- The New York Times will no longer support its apps for BlackBerry and Palm Pre.
- Less people are opening your email newsletter.
- 4 strategies for news companies as mobile ads displace desktop exposure.
- The new mobile ad platform Moasis has the ability to target ads within an area as small as two city blocks, potentially convincing a consumer to visit the coffee shop around the corner.
- You suck at infographics, BTW.
- And finally, “When I hear a writer say that they ‘put in a call,’ I want to pull my hair out,” says New Yorker editor David Remnick:
As he describes the profession, reporting often means “making the same phone call over and over and over again until you’re so irritating that the person you’re calling makes the calculation that it’s better to give you the time that you need rather than have to endure the constant assaults of your phone calls and emails.”