TheJournal.ie & The Future of Journalism for the IIEA

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  • Both offline and online\n
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  • 5%-6% per annum for the decade\n
  • 2014, smart phone usage exceeds desktop\n
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  • Remember, they have unlimited access to FREE content, so why pay?\n NYT operates the world most successful general news paywall\n
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  • - Super low overheads\n- new collaborative journalistic methods coupled with old fashioned news gathering\n- death of print != death of journalism\n
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  • The internet has opened up collaboration\n
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  • TheJournal.ie & The Future of Journalism for the IIEA

    1. 1. The online news businessWhat I’ve learned over the last 18 months and why i’m optimistic about the future @brianfallon, CEO, TheJournal.ie
    2. 2. A quick introduction...
    3. 3. # Site Name Unique Users (‘000) # Site Name Unique Users (‘000)1 Google 2,293 11 Independent.ie 8412 Facebook 1,821 12 Federated Publishing 8283 Microsoft Sites 1,717 13 BBC Sites 8254 Yahoo Sites 1,519 14 New York Times Sites 8025 Distilled Media 1,422 14 Apple 7886 Glam Media 1,226 16 Irish Times Group 7877 RTE.ie 1,121 17 VEVO 7758 Ask Network 991 18 Viacom 7079 Wikipedia 982 19 Eircom 65010 Amazon 957 20 eBay 649
    4. 4. Irish Online News Market Traffic By Publication (000’s of unique users)900675450225 0 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Source: ComScore TheJournal.ie Independent.ie IrishTimes.com RTE.ie IrishExaminer.com BBC DailyMail.co.uk
    5. 5. 2 major trends in the news business right now...
    6. 6. 1. Readers are moving online...
    7. 7. Newspaper circulation is falling...20000015000010000050000 0 Jan 2005 Jun 2009 Dec 2011 Jun 2014 Dec 2016 Jun 2019 Dec 2021 Source: ABC Island of Ireland Report, Internal Projections Irish Independent Irish Times Irish Examiner
    8. 8. Internet usage is exploding... Irish Internet Usage (% of population)100755025 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: EuroStat, Red C Decoding Digital Trends, Internal Projections Desktop Internet usage Smartphone/Tablet Usage
    9. 9. But is that good news for online publications?
    10. 10. ...not necessarily...
    11. 11. Online readers have instantaccess to unlimited free content...
    12. 12. And the majority are not reading content produced in Ireland Percentage of Irish internet traffic that landed on Irish publishers 9% 91% Irish Publisher Non-Irish Publisher Source: ComScore Key Measures Ireland
    13. 13. And they don’t really want to pay for news either• The New York Times expects a upper bound of 5% of online readers to convert to online subscription
    14. 14. 2. Advertisers are (slowly) moving online
    15. 15. Online ad Spend is the only ad sector growing Online Ad Spend Ireland (% of total spend)16.00%12.00%8.00%4.00% 0% 2009 2010 2011
    16. 16. ..but not as fast at it should! The Entitlement Gap % Time Spent vs % Ad Spend by medium50% 46% Entitlement Gap worth38% ~€200m per annum 33% 33% 28%25% 23%13% 14% 11% 7% 3%0% 0% TV Radio Print Internet Mobile Time Spent Ad Spend
    17. 17. ...and advertisers have unlimited choice too
    18. 18. So is it possible to earn enough money online to pay for journalism?
    19. 19. Let’s do some(beermat) maths...
    20. 20. First, what’s the size of the audience we can sell/sell to...• Top 3 Irish Sites are tied: • ~700k users per month • ~35m page impressions per month
    21. 21. 1. Advertisers• Potential revenue from advertising: €3.8m • 35 million pages/month with 3 ads per page gives 105 million ad impressions/month or 1.26 billion per annum • News sites can earn at least €2 to €4 per 1000 ad impressions. Taking the average, this adds another €3.8m of revenue • Note: does not include revenue from mobile advertising
    22. 22. 2. Subscriptions• Potential revenue from subscriptions: €3.3m • 3% of 700,000 unique users is 21,000 paying users • Using the NYT entry level subscription of $195/annum (€155) gives annual revenue of €3.3 million (or €5.4 if 5% conversion)
    23. 23. Total Revenue: €7.1m (or if optimistic €10m+)
    24. 24. How much journalism can you afford with that?
    25. 25. Here’s THE reason I’m not worried about the future of journalism• If TheJournal.ie had revenue of €7m we could afford a newsroom of approx 80 journalists!
    26. 26. 5 reasons i’m optimistic about the future
    27. 27. 1. Online is due a lot of growth (And as our growth continues, we’ll be able to hire a lot more journalists)
    28. 28. 2. Journalists have more sources for stories than ever before (Open & Collaborative Journalism)
    29. 29. 3. Journalists can tell stories in exciting new ways (Interactive Multimedia)
    30. 30. 4. People have never beenmore engaged in the news (Social & Mobile are changing the game)
    31. 31. 5. Lots of change = lots of opportunity!
    32. 32. Finally, what public policy do we need?
    33. 33. Public Policy Changes:• Defamation reform for user generated content• Open Government: • Open Data • Open Courts • Open RTÉ
    34. 34. Questions?

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