Public Relations & Social Media Insight
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Public Relations & Social Media Insight
Social media, PR insight & thought leadership - from The PR Coach
Curated by Jeff Domansky
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Newspapers Get Slammed Again: Ad Print, Digital Revs Dip

Newspapers Get Slammed Again: Ad Print, Digital Revs Dip | Public Relations & Social Media Insight | Scoop.it

To paraphrase Oscar Wilde: “The only thing worse than transitioning from a print to digital advertising model, is not transitioning from a print to digital advertising model.”
OK -- Oscar’s version was a lot pithier. But the paradox pretty well sums up the predicament faced by newspaper publishers, who not only must contend with declining print circulation and ad woes, but also face disappointing returns on the digital ad side, per the Pew Research State of the News Media Report.

According to Pew, U.S. newspaper publishers’ total advertising revenue sank 8% in 2015 compared to the prior year, with most of this decline due to continuing drops in print ads, which still make up 75% of total ad revenues, and fell 10% last year.

However, digital, long touted by publishers as the future of the industry, isn’t even close to making up for these drops: Digital advertising actually sank by 2% as well.

(Pew’s estimates for ad revenue are based on its analysis of results from seven large, publicly-traded newspaper publishers; Pew notes that the Newspaper Association of America stopped reporting official revenue figures for the industry back in 2013)....

Jeff Domansky's insight:

Newspapers continued their seemingly irreversible decline in revenue according to the latest Pew research.

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How Amazon CEO Jeff Bezos reinvented The Washington Post, the 140-year-old newspaper he bought for $250 million

How Amazon CEO Jeff Bezos reinvented The Washington Post, the 140-year-old newspaper he bought for $250 million | Public Relations & Social Media Insight | Scoop.it

A lot of people were surprised when Amazon CEO Jeff Bezos bought The Washington Post for $250 million in 2013.

At the time, The Post was a legacy media company facing years of decline, while Bezos had no prior experience in the newspaper business.

But in less than three years, Bezos has completely changed the outlook of the 140-year-old newspaper. Its readership has exploded, and its content has become more suitable for the digital world.

Here's a look back at how Bezos revitalized The Washington Post since taking over less than three years ago....

Jeff Domansky's insight:

So maybe we shouldn't write off traditional/legacy media so quickly after all?

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rodrick rajive lal's curator insight, May 19, 1:22 AM
I guess print is still in, and a lot can be done to re-invent traditional media!
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College Newspaper Drops Print, First to Operate Primarily on Publishing Platform Medium

College Newspaper Drops Print, First to Operate Primarily on Publishing Platform Medium | Public Relations & Social Media Insight | Scoop.it

Student editor's response: "I’m so scared and excited I could pee my pants."


Medium now has Substance. The popular publishing platform recently started hosting Substance, a new student publication at Mt. San Antonio College that doubles as a totally reinvented version of The Mountaineer  campus newspaper.


It is the first college media outlet to operate primarily on Medium. Substance adviser and MSAC j-prof extraordinaire Toni Albertson  describes the arrangement as nothing less than “the perfect merge of tech and college journalism.


In a bravura announcement yesterday about the merger, Albertson explained that the impetus behind it was two-fold — mounting staff frustration at the print production routine and growing reader ennui toward the print edition....

Jeff Domansky's insight:

It seems like an obvious move for college newspapers. What's most surprising about this story is that so many still produce a print version of their college newspaper. Expect things to change very fast and notice the sponsorship model for revenue.

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The Independent launches hybrid ‘digital newspaper’ app for a unique reading experience

The Independent launches hybrid ‘digital newspaper’ app for a unique reading experience | Public Relations & Social Media Insight | Scoop.it

The Independent has unveiled a unique app based on reader feedback that combines the best of newspaper design with digital interactivity, making the most of tablets or smartphone technologytechnology


... Christian Broughton, Digital Editor at The Independent, said: “Most apps make do with a fairly static main edition. If they offer rolling news, it’s usually hidden away in a separate area. We’ve built breaking news into the very core of The Independent app. Our readers want and deserve breaking news, and they want multimedia too. But they also tell us that they like the feel and texture of a newspaper – nothing is simpler than flipping through pages. In geek-speak, that’s the ultimate intuitive UX! This app gives readers the best of both worlds.”

Jeff Domansky's insight:

The future of newspapers? A great app from The Independent but it's only free to download and try. The subscription model still costs you.

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Marta Filipe's curator insight, February 21, 2014 9:44 AM

O jornal do futuro.

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Okay, Here's The Real Reason Why Jeff Bezos Bought The Washington Post

Okay, Here's The Real Reason Why Jeff Bezos Bought The Washington Post | Public Relations & Social Media Insight | Scoop.it

The question that still remains is why: Why would a technology entrepreneur invest in a stodgy media outlet in a declining industry? Was the motive for the move sentimental altruism or profit?


I think Henry Blodget at Business Insider hit the nail on the head in his piece when he said that:"Content and commerce companies have long dabbled with combining the two experiences, but no one has really nailed it. Given Amazon’s expertise in affiliate marketing and advertising, it’s not hard to imagine that the Washington Post could quickly become a laboratory for the next generation of integrated content and commerce."...

Jeff Domansky's insight:

Content marketing strategy behind Washington Post acquisition? This is a good look at some of the possible reasons why Bezos  acquired the newspaper institution. what's going to be interesting in the future, is how he experiments with digital journalism, whether the journalists and others at the Washington Post will follow his lead or whether he'll simply flip it when it becomes more successful.


Between newspaper acquisitions by Warren Buffett, Bezos and other billionaires, something is up with newspapers which look much more attractive to investors.

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Why Warren Buffett Bought A Newspaper

Why Warren Buffett Bought A Newspaper | Public Relations & Social Media Insight | Scoop.it

Does this strike you as strange? Everything I read and hear keeps telling me that newspapers are a dying industry. Circulation is way, way down. Everyone's getting information online nowadays. No one (besides me) reads newspapers any more.


So why, in the face of all this negative opinion about print media, would one of the world's most well-known and admired investors invest money in print media? I've never met Warren Buffett or had the opportunity to interview him for this column. I'm not privy to the details of this deal. And for all I know there may be a treasure chest of gold buried underneath the offices of the Press of Atlantic City.


But assuming that's not the case, I can think of a few good reasons why he would do this--reasons that have little to do with the newspaper business, but have a lot to do with business in general....

Jeff Domansky's insight:

What Buffet subscribes to: There's money to be made everywhere. Even in a shrinking industry. Just ask Warren Buffett.

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Reflections of a Newsosaur: How TV could suffer the fate of newspapers

Reflections of a Newsosaur: How TV could suffer the fate of newspapers | Public Relations & Social Media Insight | Scoop.it

In pivoting aggressively from print to local TV, Gannett Inc. and Tribune Co. are embracing a legacy media model that could be headed for the same audience fragmentation and economic dislocation as the newspaper businesses they are trying to escape.


As detailed here yesterday, the two iconic publishing brands have announced parallel, billion-plus acquisitions that will boost their local broadcast holdings at the same time they reduce their exposure to the fraying newspaper empires on which both companies were built. Going further, Tribune is seeking buyers for some or all of a publishing portfolio that includes such prominent brands as the Chicago Tribune and the Los Angeles Times.


The long-time newspaper publishers can’t be blamed for being attracted to broadcasting. Television generated a record $49.7 billion in local and national advertising sales in 2012, while newspaper advertising revenues – which have been sliding relentlessly for seven years – ended 2012 at less than half the all-time high of $49.4 billion hit in 2005.


Though the transactions planned by Gannett and Tribune clearly reflect their confidence in the continued health of broadcasting, a look at the collapse of the once-indomitable newspaper business suggests that TV, in due course, could suffer a similar fate. We’ll review the accumulating evidence in a moment. First, here is a quick review of what happened to newspapers:...

Jeff Domansky's insight:

Interesting comparison of local TV acquisitions with previous integrations that doomed newspapers.

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Cheezburger’s Ben Huh: Weingarten is confusing journalism with the business of newspapers

Cheezburger’s Ben Huh: Weingarten is confusing journalism with the business of newspapers | Public Relations & Social Media Insight | Scoop.it
Ben Huh, CEO of online humor destination, Cheezburger, offers his take on why Gene Weingarten’s recent column was wrong about journalism.

 

Journalism still has much to learn about timeliness when an oft-awarded columnist like Gene Weingarten is 34 days late to a story. Journalism still has much to learn about reporting when the writer of the story was actually never present at the event. Journalism still has much to learn about the audience it supposedly serves when it continues to ignore the wants of its readership.

 

It pains me to watch how much obstructionism blocks the progress of some well-meaning journalists, regardless of the humorous nature of Gene’s column....

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There are now more Americans working for online-only outlets than newspapers

There are now more Americans working for online-only outlets than newspapers | Public Relations & Social Media Insight | Scoop.it

As of March, there were 197,800 Americans working in the “internet publishing and broadcasting” sector versus 183,200 people working for U.S. newspapers.

The BLS data goes back to 1990, and since then employment at newspapers has fallen by nearly 60 percent, having peaked in June 1990 at 457,800 people. The number of newspaper jobs has fallen consistently since then.

Digital publishing, meanwhile, has grown considerably. Throughout much of the early 1990s there were around 30,000 online publishing jobs, though that figure grew to 112,000 by 2000. Then the dot-com bubble burst and the number of jobs shrunk by about half....

Jeff Domansky's insight:

This chart pretty much says it all when it comes to traditional newspapers versus digital media jobs and trends.

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write, edit, blog: Why old media still smashes it when things really matter

write, edit, blog: Why old media still smashes it when things really matter | Public Relations & Social Media Insight | Scoop.it

So these young men and women, who are highly savvy when it comes to new media, and how to spread news using it, had no idea that you can buy space for a personal announcement in a print product and its online equivalents.


I suspected that they'd see me as a media dinosaur for feeling it was important to mark such an important life event in print. But they didn't. In fact, they all thought it was really cool.


So Bea hung fire on the Facebook update until The Times announcement was published, and then did a screen grab from The Times iPad app that became her Facebook post. Then she bought five copies of the paper.


Of course, many more people saw that Facebook announcement than heard of the engagement from The Times.


But I learned that it really mattered to these new-media natives that the first announcement came in the paper-of-record environment of the Times....

Jeff Domansky's insight:

Remember print? Andy Bull shows why print still matters with a personal anecdote.

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rodrick rajive lal's curator insight, January 2, 6:58 AM

Old media still works, that is print media at least in the form of printed newspapers, billboards and hoardings, banners and leaflets. It might be surprising for many to know that information technology has yet to  reach millions of people in rural areas, and many developing countries. The old world charm of seeing a marriage announcement in a newspaper beats anything that appears on electronic media. In many cases, the hard copy of a document is better than the soft copy! 

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Five Key Takeaways from The New York Times' Innovation | Social Media Insider

Five Key Takeaways from The New York Times' Innovation | Social Media Insider | Public Relations & Social Media Insight | Scoop.it

For a moment, let’s not focus on the delicious irony of Buzzfeed breaking the second biggest news about The New York Times this week. The site -- which many a Times staffer probably sniffs derisively at -- uploaded the paper-of-record’s entire 91-page “Innovation Report” that calls for de-emphasizing print in favor of a more sophisticated approach to digital. If you’re in digital, it’s even more intriguing than the news on Wednesday that executive editor Jill Abramson had been unceremoniously shown the door


More than anything else, the report points to the Times’lackluster, scattershot approach to digital innovation, particularly in audience development, an imperative when so much content and readership comes from the act of sharing. In one of its many trenchant-but-obvious observations, it points out  that “our digital content needs to travel on the backs of readers to find new readers.”...

Jeff Domansky's insight:

I wonder if this is the final nail in the coffin for newsprint? it certainly is symbolic! We really are at a stage of technology where we can read anything and  enjoy the interactive nature of news stories more on a tablet or other device.

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