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Future of media is here today. Lessons learned while turning City Magazine into Digital Era
 

Future of media is here today. Lessons learned while turning City Magazine into Digital Era

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Lessons learned while transforming legendary CITY Magazine to fastest growing media family. ...

Lessons learned while transforming legendary CITY Magazine to fastest growing media family.
Media Digitalization and City Digital : How did we jump to Finnish top10 list in 11 months.

Transformation from print magazine into Growing and Successful City Digital Media Family.

Never underestimate how digitalization affects to the media culture.

City Digital
Serial Entrepreneur
Ilkka O. Lavas
13.10.2013

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    Future of media is here today. Lessons learned while turning City Magazine into Digital Era Future of media is here today. Lessons learned while turning City Magazine into Digital Era Presentation Transcript

    • Lessons  learned  while   transforming  legendary     CITY  Magazine     to  the  fastest  growing   media  family  City  Digital   Serial  entrepreneur   Ilkka  O.  Lavas   15.10.2013  
    • Media  DigitalizaFon:  City  Digital   How  did  we  jump  to  Finnish  top10   list  in  11  months   TransformaFon  from     suffering  print  magazine            into        Growing  and  Successful  City  Digital  Media  Family  
    • Ilkka  O.  Lavas   •  Started  1st  company  17  years  old   •  2  books  about  entrepreneurship   •  Partner,  board  member,  investor   –  PorQolio  of  15  businesses   –  10+  aquisiFons  done   –  3  exits   •  Young  Entrepreneur  of  the  year  2009  in   ’Southern  Finland’   •  34years,  2  boys,  1  wife,  1343  Y  connecFons,   1236  linkedin  conns,  twi[er  @lavas     •  ”Guy  Kawasaki  of  Finland”  
    • PorQolio   Скидки  круглый  год  
    • Ikäryhmä It  all  started   when  we  got   research*  results        OK,       normal   that  we  already       reach  large  age-­‐ WOOT!  {   scale  of  people   Kaikki vastaajat AGE   0 alle 15 vuotta 3 15 - 19 vuotta 7 {   16 20 - 24 vuotta 8 26 25 - 29 vuotta 8 21 30 - 34 vuotta 8 23 35 - 44 vuotta 16 8 45 - 54 vuotta 16 2 55+ vuotta 36 0 *   10 20 30 40 50 % 60 70 80 90
    • Lesson  1#   •  Never  underesFmate  how  digitalizaFon  affects  to   the  media  culture.   •  Even  your  grandmother  may  be  using  iPad   •  Media  usage  is  fragmented   •  We  read  curated  media  rather  than  single   medium   •  We  follow  and  consume  sites  that  our  friends  are   suggesFng  and  linking  
    • Earlier  in  history  1900-­‐  business  process:  Press  –>  Delivery  –>  Consumer   DigitalizaFon  2000-­‐:  JOURNALIST  –>  CONSUMER   Media  fragmentaFon  is  on  our  side   Photo:  Inside  Australia,  sculptures  by  Antony  Gormley,  Lake  Ballard,  Western  Australia  
    • What  is  City  Digital  ?  
    • What  City  Digital  is?   City  Digital  is  family  of  medias,     focusing  on  quality  journalism,  City  –life  and   phenomenons.     City  Digital  reaches  Finnish  digital  elite  20-­‐45-­‐ years,  who  spend  all  of  their  money  and  free   time  in  themselves.  City  users  are  active  and   trendy.  
    • City  Digital  sites:  
    • We  need  to  new  thinking.  Blue  ocean   strategy:  We  are  family.  Media  family.   Growing  Media  Family  is  stronger  together.  We  learn  from  each  others.      
    • Business  model  transformaFon   •  •  •  •  •  •  •  1985-­‐2012   Business:  print  magazine     Area:  Helsinki,  Tampere,  Oulu,  Vaasa,  Local   Customers:   Locals,  Finnish  AdverFsers   CirculaFon  200k-­‐450k     Visitors  on  web  site  100k   Content  creators/journalists:  20   •  •  •  •  •  •  •  2012-­‐2013  (11  months)-­‐>   Business:  Media  Family   ”the  record  company  of  web  sites”   Area:  Finland,  w/  Global  startups   Customers:     Local  brands,  Finnish  AdverFsers,  Global   AdverFsers   CirculaFon:  1100k  /  Magazine   Visitors  on  web:  500k/week   Content  creators/journalists:  150  
    • City  Digital  visitors   •  Weeks  37-­‐40/2013  avg     (TNS  Metrix)   •  Uniques  visitors  427  789   •  Unique  browsers  509  819   •  Page  views  1  778  858    
    • Lessons  #2   Bloggers  are  new  media  stars.     •  Journalists  have  to  learn  how  people  are  consuming   media   •  Power  of  tradiFonal  media  is  shrinking,  #fashion  trends   are  arising  from  blogs  and  on  streets   •  Single  blog  post  can  sell  more  than  front  page  of  the   biggest  naFonal  tradiFonal  newspaper  
    • in  11  months   TransformaFon  from     suffering  print  magazine            into        Growing  and  Successful  City  Digital  Media  Family  
    • Lessons  #3   Anyone  can  be  a  mediastar   •  Anyone  can  start  new  media  business  in  minutes   •  Innovators  and  entrepreneurs  are  new   mediamoguls   •  Need  for  Media  Families  ”the  record  companies   of  fragmented  media  ages”  arise    
    •   City  Digital     Cross  Media MarkeFng   Mix   Online-­‐Offline-­‐Ra Live-­‐Print-­‐Venu  
    • Lesson  #4   We  don’t  need  tradiFonal  TV   anymore  to  create  phenomenas.     •  Online  video  consuming  is  growing   •  Videodisplay  adverFsing  is  more  popular   •  Biggest  TV  ”channel”  is  Youtube  
    •   City  Digital     Organizing     Movie  nights and  great     ParFes    
    • We  reinvented  the  process  of  creaFng     City  –print  Magazine   Online   journalism   Printed   City   Magazine   We  publish  everything  first   in  our  online  medias.  We   measure  everything.  Likes,   shares,  comments  to  know   what  people  want  to  read.   Print  has  limited  space.     Stories  in  print  are   shortened.     Read  more  online   www.city.fi  /  uniqueurl   500k  weekly   On  demand   PrinFng   900.000  pcs  of   printed  mags  
    • Co-­‐operaFon  w/  SummerUP  fesFval   30000  guests  
    • New  ways  for  journalism   Journalism  becomes  more  visual   •  We  have  noFces  that  ”old-­‐school”  journalism  is  not  working  for   everybody.  We  need  new  ways  for  touching  people:   •  Feelings  journalist,  creates  stories  that  makes  you  feel  something   •  Videojournalism  is  growing  fast   •  Need  for  new  job  Ftles,  i.e.  instagramjournalists,  hashtagjournalists,   twi[ercurators  and  Facebook  manager   •  The  more  and  more  media  fragments,  the  more  we  need  curators   •  Amount  of  freelancer  bloggers  is  growing   •  Amount  of  professional  bloggers  is  growing  
    • We  trust  in   power  of  the  people   and  wisdom  of  crowds.     Think  Digi-­‐first.     DigitalizaFon  is  on  our  side.    
    • Media  DigitalizaFon     is  global  opportunity   www.citydigital.fi   www.ilkkaolavas.com    Ilkka.lavas@city.fi   Twi[er:  @lavas   Facebook:  IlkkaLavas   Gsm  +358  400  997969   www.city.fi/profiilit/lavas/blogi   h[p://www.linkedin.com/in/ilkkaolavas