"What were some digital lessons you learned last year, and how should newspapers approach digital in 2018?".
In 2017, it seemed that our industry and lots of other companies that built their revenue model based on digital advertising were rethinking their dependence on this source of revenue.
Many companies are now recognizing that digital advertising will never be a sufficient source of revenue to rebuild a sustainably profitable business model. Frankly, this is good news. It's past time for our industry to recognize that local and regional news publishers are never going to drive the scale of audience necessary to support their businesses through digital advertising revenue.
Presently, there is no other way for publishers to more quickly build meaningful profitability than through digital subscriptions. The caveat: This opportunity will only be open to publishing companies that have not already so significantly downsized their newsrooms that they can no longer publish a sufficient amount of original and relevant local news and information each day that is needed to convert audiences to paid digital subscribers.
I hope 2018 brings more examples of more ways publishers can learn from one another about ways to diversify their sources of revenue and get closer to getting ahead of the print related declines in revenue.
Jim Moroney is the publisher and CEO of the Dallas Morning News.
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||Wise Advice|
|Publication:||Editor & Publisher|
|Article Type:||Brief article|
|Date:||Mar 1, 2018|
|Previous Article:||innovation OF THE MONTH.|
|Next Article:||Des Moines Register Temporarily Blocked From Publishing Court Records.|