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Burns

ISOJ 2008

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Burns

  1. 1. A Look At EmergingA Look At Emerging Business ModelsBusiness Models
  2. 2. Emerging Business ModelsEmerging Business Models Traditional media are struggling to adapt their old business models to respond to the devastating effects of disruptive, digital technologies, while a new generation of media companies is creating fresh, innovative new models. Will those efforts result in profitable businesses that would finance journalism as it happened during the last century? • Chair: Neal Burns, Professor, Advertising Department, UT Austin, • || Richard Anderson, President and CEO, Villagesoup.com • || Staci Kramer, Co-Editor of ContentNext Media/PaidContent.org • || Ken Riddick, Vice President, Digital Media, Hearst Newspapers • || Michael Smith, Executive Director, Media Management center, Northwestern University
  3. 3. Traditional Media: What WasTraditional Media: What Was • Broadcast networks – Limited in number – Virtually monopolistic • Categorical Separation – Radio/Press/TV • Balkanization of New Media (lack of interoperability)
  4. 4. Traditional Media: NowTraditional Media: Now • Traditional media operators are concerned -- losing customers, losing ad revenue . . . Yet, raising prices while delivering fewer eyeballs and ears. • Banks and investors look at these operators with a bit of a jaundiced eye. • As alternative media platforms and resources come into play -- and gain customers/traction -- less market capital for traditional media.
  5. 5. The Market: Then and NowThe Market: Then and Now • There were dozens of markets with millions of persons in each. • Now there are millions of markets and about a dozen persons in each. • It’s not about execution or creative excellence -- now its about relevance.
  6. 6. Convenience, Control, Choice (CConvenience, Control, Choice (C33 )) • Shifting from interruption to engagement • Watch what they want, when they want … and where they want. • C3 shows up in – media usage • In the 90’s > 7 hrs/d • 2008 > 10.5 hrs/d – Spending on alternative media hit $73.43 billion in 2007, a 22% increase over 2006.
  7. 7. Plague on Both HousesPlague on Both Houses • Google and broadcast networks have a problem over which they can both commiserate: declining use numbers. • Google’s slower growth in paid clicks -- growing 37% monthly six months ago, grew only 3% in February and showed no growth in January. It’s an abrupt halt to Google’s meteoric growth trajectory.
  8. 8. Key TrendsKey Trends • Top 10 news Web sites have a larger share of audience than legacy media. • News is shifting from being a product to becoming a service. • News consumption is continual (e.g., screen banners), periodically engaging -- analytical and interpretive finished news ‘product’ not done.
  9. 9. ““at the end of the day . . . fromat the end of the day . . . from our panelists . . .our panelists . . . • Good sense of current status • Likely outcomes in the near term • Can we monetize news today ? • Should professional news organizations sponsor co-creation (CGC)? • Any models for strategic and executional leadership?
  10. 10. ““at the end of the day . . . fromat the end of the day . . . from our panelists . . .our panelists . . . • Good sense of current status • Likely outcomes in the near term • Can we monetize news today ? • Should professional news organizations sponsor co-creation (CGC)? • Any models for strategic and executional leadership?

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