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MASTERING THE NEW
EDITORIAL LANDSCAPE
Or, it’s scary out there, but not impossible
Chris Roush, croush@email.unc.edu
June 26, 2015, Charlotte, NC
Alliance of Area Business Publications
INNOVATION IN BIZ JOURNALISM
 Yes, the media industry is struggling to change itself these days.
 But I see innovation and unique ideas.
 I also see money being made.
INNOVATION IN BIZ JOURNALISM
 We’ll discuss the following:
1. New delivery formats;
2. New revenue streams; and
3. New ways of reporting business news.
 All of this from a journalist’s perspective, not a publisher or ad
director’s perspective.
QUARTZ
 Launched by Atlantic Media in 2012.
 Reporters don’t have beats, but areas of interest.
 Stories are very short – or very long.
 Has launched sites in India and Africa.
 Had 10 million unique visitors in December 2014.
QUARTZ
 Funded by advertising/sponsors.
 Ad revenue was $10M to $12M in 2014.
 Developers and reporters work side by side.
 Developers report to editorial, not business.
 Not among top 15 biz/financial news sites,
but gaining.
WHAT CAN WE LEARN?
 Putting developers in the news room works.
 Focus on technology first – how is the news
delivered.
 Quartz recently upgraded browser, navigation
bar and story page.
 Readers do love in-depth content.
 Readers love content they can’t get anywhere
else.
BUSINESS INSIDER
 Launched in 2009 by former Wall Street analyst Henry Blodget.
 Sub sites include Silicon Alley Insider and Clusterstock.
 Business news with an attitude.
 Entertainment and sports news.
BUSINESS INSIDER
 The No. 2 business/financial website as of April 2015.
 Up 70% in past year.
 Expanded to Europe and Australia.
 Ping pong table in the newsroom.
 Doing more long form.
 Recent videos include staffers tasting Taco Bell breakfast.
WHAT CAN WE LEARN?
 Will post a loss this year.
 Closed a $25 million round of funding
in January.
 Consumer tech site coming later this
year.
 Sixty percent of visits/uniques from
mobile.
RE/CODE
 Launched by WSJ’s Walt
Mossberg and Kara Swisher in
early 2014.
 Tech news for the tech junkie.
 An estimated 1.5 million page
views/month.
RE/CODE
 Launched conference business that was bread and butter of All
Things D.
 Struggled to build audience.
 Sold to Vox Media in May 2015.
WHAT CAN WE LEARN?
 You can’t grow readership on brand name business journalists.
 Business journalists are not good business builders.
 Partnering with The Verge will allow Swisher and Mossberg to do
what they do best.
THE INFORMATION
 Launched by WSJ reporter Jessica
Lessin in 2013.
 Subscription costs $400.
 Has a staff of nine.
 Breaks huge stories: Google’s
Dropcam acquisition, Amazon’s deal to
buy Twitch and an inside look at Disney’s
move to buy Maker Studios.
THE INFORMATION
 Doesn’t try to cover all tech news.
 Revenue based solely on subscribers.
 Strategy: “Focusing on writing for readers we think are
underserved: professionals in technology and in industries being
upended by it.”
WHAT CAN WE LEARN?
 Niche strategies can
work.
 High-end readers can
fund an operation.
 Staff must not grow
faster than the business.
SEEKING ALPHA
 All content comes from
contributors.
 They’re paid based on page views.
 Primary focus is public companies
not covered well by biz news media.
 Also covers widely held stocks.
SEEKING ALPHA
 Credibility is an issue as some post under pseudonyms.
 Launched premium service in April.
 Top writer hit $200K annualized in first month.
 Has 4 million registered users.
 Dropped content from Yahoo Finance in 2014.
 Raised $7 million in funding in 2009.
WHAT CAN WE LEARN?
 Certain content
can get a ton of
views.
 You don’t need a
full-time editorial
staff.
 Have to deal with
litigation.
24/7 WALL ST.
 Launched in 2006 by former
Financial World editor.
 Content is also republished on MSN
Money, Yahoo Finance, Aol’s
DailyFinance, MarketWatch, Comcast
and The Huffington Post.
24/7 WALL ST.
 Readers are high-end investors.
 Posts 30 articles a day.
 Profit margin of more than 50%,
from numbers shared by co-founder.
 For first half of 2014: Revenue rose
61 percent to $1.455 million, and profits
rose 102 percent to $950,000.
WHAT CAN WE LEARN?
 Advertising, which accounts for about 85 percent of revenue, can
fund a strong editorial model.
 No videos, no apps, no multimedia.
 Draws as much traffic as Barrons.com.
NERDWALLET
 Launched in 2010 and based in New
York.
 Raised $64 million in funding earlier
this year.
 Personal finance site used by 30
million people in 2014.
NERDWALLET
 Makes money from fees earned by
matching consumers with financial
products.
 It is profitable.
 The company helps consumers
understand how to pick the best personal
finance products.
WHAT CAN WE LEARN?
 Match editorial content
with data that readers
want.
 Personal finance is a
growth industry.
 Find a funky name that
will attract the curious.
REORG RESEARCH
 Founded in 2012 and covers
distressed debt.
 Charges tens of thousands of
dollars for content.
 Posts about 20 stories a day.
 Has opened offices in London and
Puerto Rico.
REORG RESEARCH
 Covers stories few others pay
attention to.
 Subscribers are hedge funds and
investment banks.
 Pairs journalists with attorneys and
analysts.
 Can download documents from
site.
WHAT CAN WE LEARN?
 If the news content is valuable to
someone, people will pay a lot of
money.
 Niche news works if it can be broad
geographically.
 An expertise in reporting goes a
long way.
THE DISTANCE
 Launched in November 2013.
 Online magazine and podcast.
 Funded by software company Basecamp but
editorially independent.
 Writes about private companies that are at
least 25 years old.
THE DISTANCE
 Doesn’t write about Basecamp
customers.
 Editor is former Chicago Tribune
business journalist.
 She is only full-time person.
 Syndicated on Chicago Tribune,
Quartz and Gizmodo.
WHAT CAN WE LEARN?
 Content can be sliced very
narrowly and still have appeal.
 Don’t need big staffs.
 Helps to find a Sugar Daddy.
BIZWOMEN.COM
 Launched in 2014 by American
City Business Journals.
 News for women business leaders.
 Full-time editor and staff writers.
 Some content comes from ACBJ
papers.
BIZWOMEN.COM
 Light on fluff and heavy on takeaways.
 Believe it or not, women want different business news than men.
 Backed by big company, so doesn’t need to be profitable right
away.
WHAT CAN WE LEARN
 Sponsored content pages by
companies: UPS Store, Fidelity and
PNC.
 Mentoring Monday events in 40 cities
across the country.
 Businesswoman of the Year in 40
cities.
WSJ LOGISTICS COVERAGE
 Wall Street Journal page launched in May.
 Sponsored by UPS.
 Some sponsored content, some of which was written by WSJ
Custom Studios, its native ad unit.
WSJ LOGISTICS COVERAGE
 CFO Journal launched in 2011.
 CIO Journal, Risk & Compliance Journal in 2013
 Marketing-focused CMO Today in 2014.
 WSJ Logistics Report has editorial staff of five.
WHAT CAN WE LEARN?
 Sponsored content can fund independent editorial content.
 All industries like to be catered to with content.
REUTERS TV
 Television news service designed
specifically for watching on phones.
 Two viewing options: Live feeds of
global events, and a news show called
“Reuters Now” that can last anywhere
between 5 and 30 minutes.
 “Reuters Now” is customized to
viewer’s location and interests.
REUTERS TV
 Free for first 30 days.
 After that, charge $1.99 per month
through the iTunes store.
 Meets customers “where they are.”
WHAT CAN WE LEARN?
 The phone is becoming the
dominant way that many people receive
their business news and information.
 Video is growing exponentially.
 More and more outlets are charging
for what was previously free content.
OTHER THINGS
 The Financial Times has
launched cost-per-hour
advertising on its website.
 If it catches on, how does
that affect how much you
change or update your online
editorial content?
OTHER THINGS
 TheStreet announced that it is adding four new shows to its video
content.
 Some weekly, some monthly.
 Can you pull off similar video content?
 Do you have the tech capability?
OTHER THINGS
 TheStreet’s Real Money content going behind a metered paywall
similar to what is used by The New York Times and the Financial
Times.
 Real Money will be available for $3 per week.
 Real Money Pro, which includes a daily trading diary by Doug
Kass and aimed at the advanced trader, costs $16 per week.
OTHER THINGS
 GrowthSpotter started by Orlando
Sentinel in May.
 Subscriber-only digital publication
(one month is $20, and one year is
$156) that offers “insider” intelligence
for Central Florida’s business
community.
OTHER THINGS
 One of my biggest student success
stories: Founder of RichmondBizSense.com.
 Has now expanded to Denver with
BusinessDen.com.
 RichmondBizSense.com is now
profitable.
 Examine your geographic markets and
what is lacking.
MY FINAL THOUGHTS
 Editorial content is valuable. Charge for it.
 Find ways to segment your content to specific audiences that will
pay extra.
 Focus on technology from an editorial perspective.
 Sponsored content is not an evil thing.
QUESTIONS?

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Mastering the New Editorial Landscape

  • 1. MASTERING THE NEW EDITORIAL LANDSCAPE Or, it’s scary out there, but not impossible Chris Roush, croush@email.unc.edu June 26, 2015, Charlotte, NC Alliance of Area Business Publications
  • 2. INNOVATION IN BIZ JOURNALISM  Yes, the media industry is struggling to change itself these days.  But I see innovation and unique ideas.  I also see money being made.
  • 3. INNOVATION IN BIZ JOURNALISM  We’ll discuss the following: 1. New delivery formats; 2. New revenue streams; and 3. New ways of reporting business news.  All of this from a journalist’s perspective, not a publisher or ad director’s perspective.
  • 4. QUARTZ  Launched by Atlantic Media in 2012.  Reporters don’t have beats, but areas of interest.  Stories are very short – or very long.  Has launched sites in India and Africa.  Had 10 million unique visitors in December 2014.
  • 5. QUARTZ  Funded by advertising/sponsors.  Ad revenue was $10M to $12M in 2014.  Developers and reporters work side by side.  Developers report to editorial, not business.  Not among top 15 biz/financial news sites, but gaining.
  • 6. WHAT CAN WE LEARN?  Putting developers in the news room works.  Focus on technology first – how is the news delivered.  Quartz recently upgraded browser, navigation bar and story page.  Readers do love in-depth content.  Readers love content they can’t get anywhere else.
  • 7. BUSINESS INSIDER  Launched in 2009 by former Wall Street analyst Henry Blodget.  Sub sites include Silicon Alley Insider and Clusterstock.  Business news with an attitude.  Entertainment and sports news.
  • 8. BUSINESS INSIDER  The No. 2 business/financial website as of April 2015.  Up 70% in past year.  Expanded to Europe and Australia.  Ping pong table in the newsroom.  Doing more long form.  Recent videos include staffers tasting Taco Bell breakfast.
  • 9. WHAT CAN WE LEARN?  Will post a loss this year.  Closed a $25 million round of funding in January.  Consumer tech site coming later this year.  Sixty percent of visits/uniques from mobile.
  • 10. RE/CODE  Launched by WSJ’s Walt Mossberg and Kara Swisher in early 2014.  Tech news for the tech junkie.  An estimated 1.5 million page views/month.
  • 11. RE/CODE  Launched conference business that was bread and butter of All Things D.  Struggled to build audience.  Sold to Vox Media in May 2015.
  • 12. WHAT CAN WE LEARN?  You can’t grow readership on brand name business journalists.  Business journalists are not good business builders.  Partnering with The Verge will allow Swisher and Mossberg to do what they do best.
  • 13. THE INFORMATION  Launched by WSJ reporter Jessica Lessin in 2013.  Subscription costs $400.  Has a staff of nine.  Breaks huge stories: Google’s Dropcam acquisition, Amazon’s deal to buy Twitch and an inside look at Disney’s move to buy Maker Studios.
  • 14. THE INFORMATION  Doesn’t try to cover all tech news.  Revenue based solely on subscribers.  Strategy: “Focusing on writing for readers we think are underserved: professionals in technology and in industries being upended by it.”
  • 15. WHAT CAN WE LEARN?  Niche strategies can work.  High-end readers can fund an operation.  Staff must not grow faster than the business.
  • 16. SEEKING ALPHA  All content comes from contributors.  They’re paid based on page views.  Primary focus is public companies not covered well by biz news media.  Also covers widely held stocks.
  • 17. SEEKING ALPHA  Credibility is an issue as some post under pseudonyms.  Launched premium service in April.  Top writer hit $200K annualized in first month.  Has 4 million registered users.  Dropped content from Yahoo Finance in 2014.  Raised $7 million in funding in 2009.
  • 18. WHAT CAN WE LEARN?  Certain content can get a ton of views.  You don’t need a full-time editorial staff.  Have to deal with litigation.
  • 19. 24/7 WALL ST.  Launched in 2006 by former Financial World editor.  Content is also republished on MSN Money, Yahoo Finance, Aol’s DailyFinance, MarketWatch, Comcast and The Huffington Post.
  • 20. 24/7 WALL ST.  Readers are high-end investors.  Posts 30 articles a day.  Profit margin of more than 50%, from numbers shared by co-founder.  For first half of 2014: Revenue rose 61 percent to $1.455 million, and profits rose 102 percent to $950,000.
  • 21. WHAT CAN WE LEARN?  Advertising, which accounts for about 85 percent of revenue, can fund a strong editorial model.  No videos, no apps, no multimedia.  Draws as much traffic as Barrons.com.
  • 22. NERDWALLET  Launched in 2010 and based in New York.  Raised $64 million in funding earlier this year.  Personal finance site used by 30 million people in 2014.
  • 23. NERDWALLET  Makes money from fees earned by matching consumers with financial products.  It is profitable.  The company helps consumers understand how to pick the best personal finance products.
  • 24. WHAT CAN WE LEARN?  Match editorial content with data that readers want.  Personal finance is a growth industry.  Find a funky name that will attract the curious.
  • 25. REORG RESEARCH  Founded in 2012 and covers distressed debt.  Charges tens of thousands of dollars for content.  Posts about 20 stories a day.  Has opened offices in London and Puerto Rico.
  • 26. REORG RESEARCH  Covers stories few others pay attention to.  Subscribers are hedge funds and investment banks.  Pairs journalists with attorneys and analysts.  Can download documents from site.
  • 27. WHAT CAN WE LEARN?  If the news content is valuable to someone, people will pay a lot of money.  Niche news works if it can be broad geographically.  An expertise in reporting goes a long way.
  • 28. THE DISTANCE  Launched in November 2013.  Online magazine and podcast.  Funded by software company Basecamp but editorially independent.  Writes about private companies that are at least 25 years old.
  • 29. THE DISTANCE  Doesn’t write about Basecamp customers.  Editor is former Chicago Tribune business journalist.  She is only full-time person.  Syndicated on Chicago Tribune, Quartz and Gizmodo.
  • 30. WHAT CAN WE LEARN?  Content can be sliced very narrowly and still have appeal.  Don’t need big staffs.  Helps to find a Sugar Daddy.
  • 31. BIZWOMEN.COM  Launched in 2014 by American City Business Journals.  News for women business leaders.  Full-time editor and staff writers.  Some content comes from ACBJ papers.
  • 32. BIZWOMEN.COM  Light on fluff and heavy on takeaways.  Believe it or not, women want different business news than men.  Backed by big company, so doesn’t need to be profitable right away.
  • 33. WHAT CAN WE LEARN  Sponsored content pages by companies: UPS Store, Fidelity and PNC.  Mentoring Monday events in 40 cities across the country.  Businesswoman of the Year in 40 cities.
  • 34. WSJ LOGISTICS COVERAGE  Wall Street Journal page launched in May.  Sponsored by UPS.  Some sponsored content, some of which was written by WSJ Custom Studios, its native ad unit.
  • 35. WSJ LOGISTICS COVERAGE  CFO Journal launched in 2011.  CIO Journal, Risk & Compliance Journal in 2013  Marketing-focused CMO Today in 2014.  WSJ Logistics Report has editorial staff of five.
  • 36. WHAT CAN WE LEARN?  Sponsored content can fund independent editorial content.  All industries like to be catered to with content.
  • 37. REUTERS TV  Television news service designed specifically for watching on phones.  Two viewing options: Live feeds of global events, and a news show called “Reuters Now” that can last anywhere between 5 and 30 minutes.  “Reuters Now” is customized to viewer’s location and interests.
  • 38. REUTERS TV  Free for first 30 days.  After that, charge $1.99 per month through the iTunes store.  Meets customers “where they are.”
  • 39. WHAT CAN WE LEARN?  The phone is becoming the dominant way that many people receive their business news and information.  Video is growing exponentially.  More and more outlets are charging for what was previously free content.
  • 40. OTHER THINGS  The Financial Times has launched cost-per-hour advertising on its website.  If it catches on, how does that affect how much you change or update your online editorial content?
  • 41. OTHER THINGS  TheStreet announced that it is adding four new shows to its video content.  Some weekly, some monthly.  Can you pull off similar video content?  Do you have the tech capability?
  • 42. OTHER THINGS  TheStreet’s Real Money content going behind a metered paywall similar to what is used by The New York Times and the Financial Times.  Real Money will be available for $3 per week.  Real Money Pro, which includes a daily trading diary by Doug Kass and aimed at the advanced trader, costs $16 per week.
  • 43. OTHER THINGS  GrowthSpotter started by Orlando Sentinel in May.  Subscriber-only digital publication (one month is $20, and one year is $156) that offers “insider” intelligence for Central Florida’s business community.
  • 44. OTHER THINGS  One of my biggest student success stories: Founder of RichmondBizSense.com.  Has now expanded to Denver with BusinessDen.com.  RichmondBizSense.com is now profitable.  Examine your geographic markets and what is lacking.
  • 45. MY FINAL THOUGHTS  Editorial content is valuable. Charge for it.  Find ways to segment your content to specific audiences that will pay extra.  Focus on technology from an editorial perspective.  Sponsored content is not an evil thing.