The New Media Economy And Thestar V3
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The New Media Economy And Thestar V3 Presentation Transcript

  • 1. The New Media Economy and thestar.com J.Sims June 2009
  • 2. Media 1.0 Media 2.0
  • 3. Scarcity Abundance
  • 4. Online Newspaper Visit: 10 Mins Print Newspaper: 40 Mins TV Show: 30 – 60 Mins Avg Youtube video: 3.5 Mins Twitter Post : 140 characters Blog Post: 3-10 Paragraphs
  • 5. Scarce Media Abundant Attention
  • 6. Abundant Media Scarce Attention
  • 7. Basic Supply and Demand Price Quantity Supply Demand
  • 8. Media 1.0 Supply and Demand Price 2 Quantity Supply Demand Demand 2 Price
  • 9. Umair Haque Media 1.0 = The Age of the Blockbuster
  • 10. Media 2.0 Supply and Demand Price Quantity Supply Demand Media 2.0 Supply Media 2.0 Demand Media 2.0 Price HYPERDEFLATION
  • 11. Media 2.0 = the End of the Blockbuster Age.
  • 12. And the beginning of the Age of Snowballs.
  • 13. Snowballs = Micro Content
  • 14. Aggregators Micro-platforms Re-constructors
  • 15. Blog Post YouTube Video Star Article Influential Blogger Aggregator High Traffic Site
  • 16. Blockbuster Growth Value Output Cinema DVD TV Consumer Goods
  • 17. Blockbuster Growth Value Output The Star Metro Thestar.com Email marketing, etc.
  • 18. Snowball Growth Value Output Micro Content Blogger Aggregator High Traffic Site
  • 19. Micro Content coolhunting Nypost.com Nytimes.com Bloggers
  • 20. Micro Content Influential Blogger Digg Today Show Amazon
  • 21. The growth of snowballs requires user engagement and community.
  • 22. Clay Shirky
    • Digital Natives Expect to:
    • Interact with
    • Contribute to
    • Organize
    • and Share
    • the media they interact with .
  • 23.  
  • 24.  
  • 25. The Snowball Economy Snowball Price Quantity A growing number of snowballs pushes the demand curve up Media 2.0 Supply Media 2.0Demand Media 2.0 Price Lower Demand for Blockbusters
  • 26. This seems like chaos.
  • 27. Steven Johnson: News Ecosystem
  • 28.  
  • 29.  
  • 30. Smart Aggregator Reconstructor Entry Entry Entry Microplatform Blog Blog Blog Comment Personal Cast Personal Cast Personal Cast Entry Entry Entry Entry Entry Entry Selected Micromedia Selected Micromedia Selected Micromedia Entry Entry Entry Blog Blog Personal Cast Entry Blog Comment
  • 31. Media 1.0
    • Closed
    • Dominant
    • Portal
    Media 2.0
    • Open
    • Economies:
    • distribution
    • coordination
    • production
  • 32. Sources of Competitive Advantages in Media 2.0 Quantity: Aggregate more than competitors. Quality: Micro-differentiate more narrowly than competitors.
  • 33. 2 Roles for News Organizations in the Media 2.0 Economy Curate the News Ecosystem Create vertical content sites
  • 34. Revelation – what’s good?
  • 35. Aggregation – elegant organization
  • 36. Plasticity – let me make it my own RSS Feeds
  • 37. For the Star to thrive in the Media 2.0 world, we will need to make some key strategic changes.
  • 38. Inside Out Outside In
    • Star staff are the only voices on the site
    • One-way conversations
    • “ Authority”
    • The site as a community
    • Listen well to our users
    • Users and editors collaborate to create the site experience
    • Commenting, discussion, polling, user suggestions on story ideas, questions for interviewees, etc.
  • 39.  
  • 40.  
  • 41.  
  • 42.  
  • 43.  
  • 44.  
  • 45.  
  • 46.  
  • 47.  
  • 48. Ownership Curation
    • All content on the site is produced by Star editors and freelancers
    • Bring elegant organization to info on the web
    • Finding what’s good requires excellent knowledge of our users, what they want and what works online
    • Stop paying for content that the web is already generating for us
    • Do what we do best and link to the rest
  • 49. Closed Ecosystem
    • Us against them mentality with other sites
    • Linking to competitors, community bloggers, government sites, data and map sites
    • Working with smaller local sites and blogs to form advertising networks
  • 50.  
  • 51. Product Service
    • Stories and articles professionally produced and packaged for delivery to an audience
    • Data, tools, links and content serve as a platform for discussion and interaction
    • Applications are created to allow for the syndication and distribution of the content across the web
  • 52. Mass Niche/ Vertical
  • 53. Why Verticals?
    • Smart aggregators will consolidate horizontally and fragment vertically.
    • - Umair Haque
  • 54. Separate brands enable us to attract new audiences and to expand the verticals nationally.
  • 55. The verticals are designed to be the ultimate resources for homes, health and parenting information in the GTA.
    • News and information
    • Blogs
    • Data
    • Listings
    • Local, national and classified advertising
  • 56.  
  • 57. Advertisers prefer contextual environments because they provide a higher return on investment.
  • 58. Featured Advertiser Text Link Home Page of the Star: 0.02% CTR Parentcentral: 0.17% CTR
  • 59. Display Ad thestar: 0.08% CTR Parentcentral: 0.16% CTR
  • 60. Catfish Ad Toronto.com: 0.5% CTR Yourhome: 4.3% CTR
  • 61. On average, revenue from the verticals is 115% higher than revenue attributed to the living section of thestar.com On average, TDC national revenue is 367% higher than revenue attributed to the entertainment section of thestar.com
  • 62. In short:
  • 63. The economics of media have shifted.
  • 64. Scarcity and abundance have flipped.
  • 65. Where mass was once king, now we see a mass of niches on the web.
  • 66. This has caused hyperdeflation in media value and the end of the blockbuster age.
  • 67. Hyperdeflation is countered by the snowball effect.
  • 68. Snowballs are pieces of micro-content.
  • 69. The old media blockbuster economy was built on exclusion.
  • 70. The new snowball economy is built on being open to aggregators, micro-platforms and re-constructors.
  • 71. And by capitalizing on economies of distribution, coordination and production.
  • 72. As curators of the news ecosystem, we can provide three kinds of value.
  • 73. Revelation – What’s good? Aggregation – Elegant organization Plasticity – Let me customize your content to meet my needs
  • 74. This new economy requires radically different product strategies.
  • 75. Letting the outside in. Curation rather than ownership. Becoming part of the ecosystem. Viewing the site as a service rather than a product. Moving from mass to vertical.
  • 76. www.simsblog.typepad.com
  • 77. Want More?
    • Here Comes Everybody – Clay Shirky
    • What Would Google Do – Jeff Jarvis
    • Grown Up Digital – Don Tapscott
    • Crowdsourcing – Jeff Howe