Ken Doctor, media analyst and President at Newsonomics recommends that publishers continue to develop reader revenue while print advertising continues to fade. He spoke during a session at the Media Innovation Tour seminar held at the Poynter Institute in St. Petersburg on March 9.
Reader revenue is the new source of revenue for most newspaper companies, but the boost from paywalls has now hit a bump. Newsrooms, he said, now need to “earn their way back to the community.”
The particular focus should be on the number of loyal customers who are paying for subscriptions or news apps for access, Doctor said. The future of news business lies in “relationships with community,” so news organizations should focus their attention converting their readership from “users – to readers – to subscribers – to members.”
That requires reconnecting with the community and becoming part of their news. Read more