Below is a short, edited video with some highlights from the paper I presented with Jameson Hayes on a modified news micropayment for the Social Web at the International Symposium on Online Journalism in Austin, Texas:
AUSTIN, TEXAS_ Newspapers have to adapt to the “age of micro media” in which every unit of content must have value, INMA chief Earl Wilkinson told attendees Friday morning at the International Symposium on Online Journalism.
Determining their content’s value should be a top priority for newspapers, because content value can serve as a proxy for engagement in the Digital Age, Wilkinson said during a fiery, impassioned presentation.
Even if newspapers never charge for content, segmenting “content platform, audiences” forces a market approach to growth and places them in the context of today’s “abundance of information,” Wilkinson said.
The traditional business model will not survive, Wilkinson said.
“We clearly have reached a point where we need alternative funding sources,” he said.
Advertising will account for a smaller portion of a newspapers’ revenue, but won’t disappear entirely, Wilkinson said. The pure value of content, however, keeps changing. Newspapers must find ways to monetize content, which will require significant leadership and industry collaboration, Wilkinson said.
The global recession accelerated changes to the news industry.
“It’s transformed our business models and we’re never going to go back,” Wilkinson said.
Newspapers are going through transformation and evolution, but they’re not going to die, Wilkinson said.
The future media landscape will consist of less advertising and smaller companies, Wilkinson said. There will be less journalists, but more editors as print complexity is replaced by a digital one. According to Wilkinson, newspapers should invest more in sales, marketing and research, while focusing on product development and speedy delivering of news enhanced through social media.
Wilkinson says that “Value= Audience + content + platform”
I found myself often nodding in agreement during Wilkinson’s presentation because, in my humble opinion, he “gets it.” His presentation, more than any other, has me fired up to present my paper proposing a new business model tomorrow.
The future of media may well be in your hands. I’m talking, of course, about mobile devices.
For a variety of reasons, consumers and businesses alike appreciate the new opportunities mobile either offers, or will offer, distributors and consumers of media content.
Mobile devices offer users personalization, portability and constant connectivity, the ability to socialize and share content, interactivity, participation, and engagement. Mobile devices offer media distributors the ability to provide these features to users, but also the potential to provide unique, geo-targeted, local, community-focused, monetizable content for all of its clients (readers/viewers/listeners and advertisers).
With mobile devices poised to be a “game changer” for news and entertainment industries in the near future, there was little surprise that “mobile” was a focal point of discussions at the National Association of Broadcasters’ annual convention and the Broadcast Education Association conference, both held last week in Las Vegas, Nevada.
I attended many sessions where mobile was front and center. Mobile offers exciting new areas for entertainment (Mobile DTV, smartphone apps), as well as newspapers, radio and television news, and for advertisers.
I’ll report a few highlights from some of the managerial-oriented sessions, where business models, monetization and strategy were key themes.
“The mobile device has the opportunity to reset the revenue models because the ability to do the transactions on a mobile device is very seamless, it’s very easy,” said Greg Philpott, president and founder of mDialog, which has built an ad platform to monetize HTML-5 videos.
Mobile gives individuals the ability to have their own screen wherever they are, Philpott said.
Mobile devices will allow content owners to charge advertisers a higher CPM that’s trackable, actionable and measurable, Philpott predicted.
Bob Hildeman, CEO of Streambox, said that said media outlets still face a challenge getting consumers willing to pay for content.
Media outlets are still grappling with how to do so, but many believe consumers are better conditioned to pay for content on their phone, than they are online.
“We’re growing this audience but we’re not monetizing it,” said Lance Richard, Entercom Communications’ vice president of digital sales for over 110 radio stations and their Web sites in 23 media markets. “We’ve got to figure that piece out… A lot of our focus is figuring out how to monetize that stream.”
Advertising revenue should grow on mobile devices, said Tom Kenney, president of Verve Wireless, which designs mobile news applications for many leading news agencies.
“Mobile advertising now is starting to take off,” Kenney said. ” The thesis behind Verve is that the mobile Web is a new medium and could potentially be the most important medium in a few years and ultimately it’s a local (emphasis mine) medium.”
The idea of consuming digital media with your hands is such a transformation from the norm that providing similar experiences on multiple platforms is going to be key for media outlets going forward, said Kinsey Wilson, senior vice president and general manager of digital media for the not-for-profit NPR.
NPR’s Web site won a prestigious Peabody Award (housed at my University I might add!) for general excellence this year and their app for the iPhone and iPad are constantly ranked by users as being one of the best smartphone apps for news. Mobile devices allow for media outlets to strategically shift their offerings from platform to platform. While NPR does offer live streams of their radio programs on the apps, written breaking news headlines are the most popular feature, Wilson said.
Overall, media outlets face a shifting environment in which smartphones will outpace the sales of desktops by 2011, according to IT firm Gartner.
Futurist Tomi Ahonen posits that mobile is the 7th medium following print, recordings, cinema, radio, TV, and Internet.
At the end of 2009, two thirds of the world’s population were using mobile phones, according to the European Information Technology Observatory.
There are now more mobile devices in the world than there are TVs, radios, and computers.
While there are many remaining questions about the mobile strategies media outlets will choose to implement, one thing is clear. The future of media is one you can hold onto.
Whether you love Dr. Cornel West or hate him, agree with his message or not, there’s no denying that the Princeton professor exudes one quality— passion.
The self-proclaimed “bluesman in the life of the mind” weaved together his usual themes of faith, family, philosophy, love and service with discussion of jazz, blues and soul during a sold-out lecture Thursday at the University of Georgia.
His message of the importance of education, and embracing the un-deodorized funk of life while continuing to fight the fight for equality, resonated with the Athens, Ga. audience. Moving from Socrates and the pursuit of Paideia to Hamlet, N.C.’s jazz great John Coltrane, West’s hour and a half speech and question and answer session covered a lot of ground and topics. Too much to adequately recap here and do justice to the talk.
While the modern day philosopher dispensed much knowledge and offered much intellectual fodder to ponder, there are at least two lessons I took away that have relevance for the fields of communication. The two points that students and practitioners of journalism and communication should heed when practicing their crafts are passion and delivery.
The two are related and feed one another. Dr. West conveys passion for his subject matter with every word he speaks. He speaks rhythmically, methodically and at times in rapid fire. He gets fired up from time to time, depending on the topic. There’s no denying the enthusiasm for what he talks about. He truly believes every word he says. With Dr. West, you get the sense that he’s driven by a calling to lecture, write, speak and teach. He loves what he does and you can tell it. You get the sense that the man could talk for hours, regardless of the audience. Don’t believe it? Watch Asra Taylor’s excellent documentary, The Examined Life in which Dr. West spends 15 minutes comparing philosophy to jazz and the blues while riding in a taxi weaving through the streets of Manhattan.
Communicators should channel their own Dr. West when choosing topics to cover, areas to specialize in or even the careers they pick. I give my journalism students flexibility in choosing what beats they cover for their beat blogs because I want them to write about and follow a subject they are interested in. Passion flows through their writing when they find the subject matter compelling. You can’t fake passion. Passion fuels excellence.
When you’re passionate about what you do, you convey that passion through your words and actions. This is where the second point comes in. Delivery. Sometimes what you say can be lost in how you say it. Your message can be lost when you fail to adequately deliver it. If you deliver a tired, boring message don’t expect it to resonate. If you can’t muster excitement for your subject matter, why would you expect your audience to do so?
Again, Dr. West is masterful here. Whether it’s standing in front of a podium delivering a lecture before a university crowd, preaching before the pews in a Baptist church or sitting in a taxi in Manhattan, West is a dynamic personality who captivates your attention. You get the sense that West can hold court and be comfortable in just about any setting, from the barrios to the boardrooms.
Whether it’s a wave of an arm, the stomp of a foot or the tenor and reflection in his voice, Dr. West gets his points across.
Dr. West delivers passion. Communicators should do the same.
I was thrilled to hear Pulitzer Prize winning journalist Deborah Blum’s advice to Grady journalism students last week.
One of her main messages was the importance for journalism students to develop a national following writing about and to a specialized audience, primarily through the use of a blog. This has been a recurrent theme I’ve echoed throughout my introductory to news writing and reporting labs over the past year.
One of the largest assignments that the students work on throughout the semester are specialized beat blogs. Students identify a niche topic they’re interested in, then follow other bloggers and write blog posts on their specialized beat. They are also expected to promote their work and to build an audience to follow their work. You can see last semester’s work under the “Resources” tab. My current students’ beat blogs are a work in progress but they all should be active now. Feel free to read, comment and follow along on topics ranging from women’s liberation to cancer awareness. Their blogs are below:
Venir como adqua de mayo_ Melanie
VolunteerChangetheWorld_Christina D
Recession Trickling All the Way Down_ Alison
Women’s Libber_ Kyle
Campus Candy_ Christina S
I Beat Cancer, You Can Too_ Kaylea
Journalism students should embrace a specialty niche and success will surely follow. That was the message a Pulitzer Prize -winning science journalist delivered last week at her alma mater.
“We’re in an age where journalistic specialists thrive in a way that generalists don’t,” Deborah Blum told Grady students during a pizza lunch in the school’s Drewry Room.
Niche publications are doing quite well right now, Blum said. Journalism students can, and should, build an audience writing about a specialized topic that strikes their interests.
“Journalism is very communal and writing is very communal,” Blum said. ” If you’re working in a specialty you can start building a national community while you’re in college.”
Blum, past president of the National Association of Science Writers, recommended students join an organization with common interests. The Council of National Journalism Organizations lists a variety of specialized organizations, many of which offer discounted student memberships.
Blum advised students to:
Blum, who maintains two of her own blogs and blogs for a true crime Web site, said that blogging allows students to hone their craft while attracting a national following. Blogs allow students to write classic journalism mixed in with some of their own voice.
If this were a news article, would you pay to read it?
If so, under what conditions would you consider it? Does it matter what brand is presenting the news or the source of information when weighing your willingess to pay for content online? How much would you be willing to pay?
These are just a few of the questions I’ve been studying in recent months. Regardless of whether you think you should pay for news content on the Web, a majority of newspaper executives plan to start charging online in the next year.
As a result, the debate over implementing micropayments, where a user pays a small fee per article, has resurfaced in recent months. As a journalism scholar, I’ve been examining micropayments from many angles.
First, I’ve been working with colleagues of mine in the Grady College to gauge consumer willingness to pay for online content through a series of surveys and experiments.
Earlier this month, my co-author Amy Sindik presented findings of one of our studies at the Association of Educators in Journalism and Mass Communication Mid-Winter conference in Norman, Oklahoma.
The findings of our study, “Newspaper Micropayments and Millennial Generation Acceptance: A Brand Loyalty Perspective” are quite promising for The New York Times, which plans to charge for content next year.
The Times website is a trusted brand, and that brand trust has a statistically significant relationship to willingness to pay for Times’ content online. Overall, The New York Times itself is a powerful brand that fosters consumer loyalty and gratifications. Overall, The New York Times clearly appears to be the most strategically poised brand name newspaper to implement a paid system. Given that consumers are more willing to pay for online content from the Times than any other newspaper, the implication might be that if doesn’t work for The New York Times, it can’t work for anybody.
On the flip end, our study suggests that local newspapers may have a tougher time nudging consumers toward a willingness to pay for online news. Only 3% of respondents indicated a willingness to pay for content from the local newspaper.
Regardless, local newspapers will want to watch with interest as The New York Times’ foray into online content plays out over the next year. As an industry leader, and arguably the most viable and credible newspaper brand, the success or failure of The New York Times payment effort could be a harbinger for the rest of the industry. Our study suggests that readers are more likely to pay for online content from the Times than any other local, regional or national newspaper.
The plan from the Old Gray Lady, however, is a “metered” model, not a micropayment model. There are many experts who believe micropayments will never work. I’m not convinced. Under the right circumstances, micropayments could succeed. I’ll outline how next month in Austin.
Along with my co-author, Jameson L. Hayes, I’ll present The Case for a Modified News Micropayment Model on the Social Web at the International Symposium on Online Journalism.
In the meantime, feel free to start a conversation and join the discussion on the future of online news payments.