Thursday, June 29, 2006
Digital Dreams for Newspapers
By Alyce Lomax
The Motley Fool
Published: June 27, 2006
Excerpt:
Surprise, surprise:
Dow Jones has hired a new executive in charge of spearheading a more in-depth
approach to digital ventures. I'm sure a lot of us have already heard
that newspapers have been struggling with circulation, while the good news
has been focused on their online ventures. There's plenty of rumbling
going on that the future is definitely online, and while many of us
have felt that the writing is on the wall, it seems clear that the
newspaper industry gets it.
Dow Jones has hired a former Viacom executive, Ann Sarnoff, to help it expand into new markets and woo new
customers. Dow Jones owns several well-known news sources that operate
well on the Internet, including The Wall Street Journal, Marketwatch.com, and part of Smart Money.
Interestingly, Poynter Institute's journalism site Poynter Online
recently posted an article pertaining to newspaper execs' attitudes at
the Mid-Year Media Review conference from the Newspaper Association of
America. Among the interesting observations reporter Rick Edmonds made
was that many of the newspaper executives at the meeting were not
focusing so much on their core, traditional newspaper operations, but
on the great opportunity they see in their online properties and
initiatives.
Indeed, the sense is that online revenues will reach 25% of all
newspaper revenues by 2011, compared with an average of 6% now. And
Edmonds' article points out that there's excitement brewing as
companies try to think up ways to capitalize on what looks like a huge
opportunity; he pointed out that many of the participants didn't even
mention old-school newspapers until well into their presentations. One
presenter supposed that once newspapers really gear up their efforts, Google and Yahoo! might face bigger problems on the Internet than might have previously been considered.
More of this article...
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