Longtime newspaper analyst Lauren Rich Fine joins Mark Andreesen in suggesting the newspapers and magazines need to be more aggressive about moving online and away from print. Noting the recent moves by the Christian Science Monitor and U.S. News and World Report to cut publishing frequency in favor of an online strategy, Fine writes on PaidContent:
If major brands push consumers online more heavily–i.e., it's this or nothing–there might really be a business there. ... If enough publications really push, maybe others will be brave enough to follow. Maybe more advertisers will take notice and join them. This could be good. It could add years to papers' respective lives.
Andreesen and Fine are coming at this from slightly different angles, but the net result is the same: Moving entirely online accepts the inevitable–and probably hastens its success. Andreesen's argument is that 100 percent focus on online will force these organizations to find ways to solve the ad revenue and business model problems that are currently the main drawback of online publishing, especially when only a fraction of corporate and management resources are currently focused online. Fine's argument is that the shift online will force readers and advertisers to recognize the advantages of online over print, and contribute to solving those business model issues while eliminating the cost drag of print production and distribution.
These are big arguments in favor of an enormous leap of faith. But it's an inevitable leap. The Monitor and U.S. News, while desperate for change for their own reasons, are in the vanguard of a revolution that I think we're going to start seeing more of in the coming months. It's not going to be the right move for every publication, at least not short- or medium-term. But to the dismay of many traditionalists, it's the direction that print media needs to be following. The future is online.
I think this is a huge leap, but Fine is right that having both options (print daily and online) makes it harder to push advertisers to a better digital solution.
I wonder whether the optimal mix would be:
- A free daily tab, with a light gloss on the news. Much like DC's Express or Redeye or b in Baltimore. Keep the page-count capped to build scarcity-pricing for the available print ads.
- A weekly local summary and analysis of news and trends. Newsweek on a local level, either on broadsheet or magazine.
- An aggressively staffed and updated 247 digital news operation, optimized for mobile, web and syndication to other media in town (TV/radio).
Posted by: Tim Windsor | November 06, 2008 at 01:01 PM
Butch: What's the matter with you?
Sundance: I can't swim.
Butch: (Laughs) Are you crazy? The fall will probably kill you.
Posted by: Mark Stencel | November 09, 2008 at 08:28 AM