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Moroney

ISOJ 2008

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Moroney

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  2. 2. 2 The decade of 2002 – 2012 will be recorded as the most transformational period of time in the history of the U.S. newspaper industry.
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  17. 17. 17 Making the Transformation Short Term Actions to Take 1. Decide on what is an acceptable and lower margin. Manage to it. 2. Get rid of unprofitable circulation. We can’t afford it. 3. Monetize surplus capacity, especially in printing and distribution. We don’t have the luxury of idle assets. 4. Model price elasticity for home delivery. Raise prices where there is opportunity. 5. Lower advertising rates if it will proportionally raise volume. You’ll improve customers’ ROI. 6. Outsource where you can improve profitability and/or productivity, while maintaining acceptable service levels.
  18. 18. 18 Core Newspaper: What the Future Holds De-emphasize one-size-fits-all characteristics; find ways to position its ability to target. Think Mass Targeting More context, perspective, analysis, subject matter experts. Less who, what, when, where, more why. Think The Economist or The Week Originate local and aggregate/edit everything else. Think “back to the future” when local was all newspapers did
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  20. 20. 20 Making the Transformation Long Term Essential Actions 1. Build a culture that embraces change. 2. Build a strategy based on super-serving local niche audiences. 3. Reorganize the company to execute #2.
  21. 21. 21 Making the Transformation Long Term Essential Actions 1. Build a culture that embraces change. 2. Build a strategy based on super-serving local niche audiences. 3. Reorganize the company to execute #2.
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  23. 23. 23 Strategy: The Three Basic Questions 1. What are our core competencies? 2. How do we create value for consumers using our core competencies? 3. How can we have a sustainable competitive advantage using our core competencies to create value for consumers?
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  25. 25. 25 Core Competencies Originating and editing news and information that attracts audiences Monetizing the value of audiences for companies who want to sell goods and services to those audiences
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  27. 27. 27 Value Creation for News & Information Value Relevancy Differentiation Local National International
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  29. 29. 29 Competitive Advantage The SCALE of newspaper newsrooms is its competitive advantage. If used correctly, it is sustainable.
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  31. 31. 31 Scale At The Dallas Morning News, we employ more reporters than all the local television stations in Dallas/Ft. Worth combined.
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  33. 33. 33 The Maginot Line
  34. 34. 34 D-Day
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  36. 36. 36 Focus on Local The Dallas Morning News What we stopped doing:  Closed foreign bureaus except Mexico City  Reduced size of Washington D.C. Bureau  Eliminated Technology section  Eliminated three general-interest Lifestyle sections  Reduced size of Religion section  Reduced Sports travel to games without local/regional teams  Eliminated circulation outside 100 mile radius, except for Austin
  37. 37. 37 Focus on Local The Dallas Morning News What we started doing:
  38. 38. 38 Focus on Local The Dallas Morning News
  39. 39. 39 Focus on Local The Dallas Morning News
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  42. 42. 42 Focus on Local The Dallas Morning News
  43. 43. 43 Focus on Local The Dallas Morning News
  44. 44. 44 Focus on Local The Dallas Morning News
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  46. 46. 46 Focus on Local The Dallas Morning News
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  48. 48. 48 What’s Next? Choose local categories to own Reorganize the company to own these categories
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  50. 50. 50 “The liberties of a people never were and ever will be secured when the transactions of their rulers may be concealed from them. That’s why they guaranteed in the Bill of Rights that the government could not abridge the free press.” -- Patrick Henry
  51. 51. 51 “Our liberty as a free press is meant to insure the protection of all the liberties constitutionally guaranteed.” -- John Adams
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  53. 53. 53 BACK UP DO NOT SHOW
  54. 54. 54 Content Coverage Strategy Relevancy Differentiation Weather National Economy Editorials My Neighbor- hood News “Go & Do” Local Gov’t Local “Deals” Local Economy Local Crime Local Investigative Not included
  55. 55. 55 Focus on Local The Dallas Morning News  What we started doing:  Launched five live zoned editions of our Metro section  Launched zoned opinion pages corresponding to Metro zones  Launched 16 consumer generated media weekly tabs focused on local neighborhoods  Launched over 50 micro-sites under same brand  Launched a live daily arts and entertainment section  Launched a weekly high school sports tab  Launched a high school sports website under same brand  Added to our investigative/enterprise team and focused on local/regional stories  Added to our education team and focused on local/regional stories
  56. 56. 56 Relevancy of News Bomb explodes in Baghdad Bomb explodes in Boise Bomb explodes in your hometown
  57. 57. 57 Newspapers / Websites Less like a newspaper online, more like a website in the post search, web 2.0 era. Much, much, much easier to find what you want. Much faster. Video supports every significant story where it makes a difference. Do it or risk becoming irrelevant to the online news consumer.
  58. 58. 58 DallasNews.com Video Stream 2006 – 2007 0 50 100 150 200 250 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 ThousandVideoStreams Dec-07 KHOU WFAA
  59. 59. 59 Newspapers / Websites Less like a newspaper online, more like a website in the post search, web 2.0 era. Much, much, much easier to find what you want. Much faster. Video supports every significant story where it makes a difference. Do it or risk becoming irrelevant to the online news consumer. Open source where appropriate. Let 10,000 maniacs do the work.
  60. 60. 60 Our Business Transformation Complete the cultural and strategic transformation from a newspaper company to a news and information company. Create a single database of our news, sports, entertainment and information that can be delivered to any device anytime and anywhere the customer wants it. Think publish once, distribute many times Niche, niche and niche some more.

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