Lessons learned while building the Fastest Growing Media family City Digital

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Lessons I have learned while building the fastest growing media family in Finland.

Digitalization is then new standard.

Bloggers and models will be new media stars.

Media fragmentation creates new business mo

Ilkka O. Lavas
serial entrepreneur
www.citydigital.fi

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Lessons learned while building the Fastest Growing Media family City Digital

  1. 1. Lessons learned while transforming legendary CITY Magazine to the fastest growing media family City Digital Serial entrepreneur Ilkka O. Lavas 15.10.2013
  2. 2. Media Digitalization: City Digital How did we jump to Finnish top10 list in 11 months Transformation from suffering print magazine into Growing and Successful City Digital Media Family
  3. 3. Ilkka O. Lavas • Started 1st company 17 years old • 2 books about entrepreneurship • Partner, board member, investor – Portfolio of 15 businesses – 10+ aquisitions done – 3 exits • Young Entrepreneur of the year 2009 in ’Southern Finland’ • 34years, 2 boys, 1 wife, 1343 fb connections, 1236 linkedin conns, twitter @lavas • ”Guy Kawasaki of Finland”
  4. 4. Portfolio Скидки круглый год
  5. 5. 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
  6. 6. Lesson 1# • Never underestimate how digitalization 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 suggesting and linking
  7. 7. Earlier in history 1900- business process: Press –> Delivery –> Consumer Digitalization 2000-: JOURNALIST –> CONSUMER Media fragmentation is on our side Photo: Inside Australia, sculptures by Antony Gormley, Lake Ballard, Western Australia
  8. 8. What is City Digital ?
  9. 9. What City Digital is? City Digital is family of medias, focusing on quality journalism, City –life and phenomenons. City Digital reaches Finnish digital elite 20-45years, who spend all of their money and free time in themselves. City users are active and trendy.
  10. 10. City Digital sites:
  11. 11. We need new thinking. Blue ocean strategy: We are family. Media family. Growing Media Family is stronger together. We learn from each others.
  12. 12. Business model transformation • • 1985-2012 Business: print magazine • • • • • • • Area: Helsinki, Tampere, Oulu, Vaasa, Local Customers: Locals, Finnish Advertisers Circulation 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 Advertisers, Global Advertisers Circulation: 1100k / Magazine Visitors on web: 500k/week Content creators/journalists: 150
  13. 13. City Digital visitors • Weeks 37-40/2013 avg (TNS Metrix) • Uniques visitors 427 789 • Unique browsers 509 819 • Page views 1 778 858
  14. 14. Lessons #2 Bloggers are new media stars. • Journalists have to learn how people are consuming media • Power of traditional media is shrinking, #fashion trends are arising from blogs and on streets • Single blog post can sell more than front page of the biggest national traditional newspaper
  15. 15. in 11 months Transformation from suffering print magazine into Growing and Successful City Digital Media Family
  16. 16. 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
  17. 17. City Digital Cross Media Marketing Mix Online-Offline-Ra Live-Print-Venu
  18. 18. Lesson #4 We don’t need traditional TV anymore to create phenomenas. • Online video consuming is growing • Videodisplay advertising is more popular • Biggest TV ”channel” is Youtube
  19. 19. City Digital Organizing Movie nights and great Parties
  20. 20. We reinvented the process of creating 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 Printing 1.000.000 pcs of printed mags
  21. 21. Co-operation w/ SummerUP festival 30000 guests
  22. 22. New ways for journalism Journalism becomes more visual • We have notices 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 titles, i.e. instagramjournalists, hashtagjournalists, twittercurators and Facebook managers, Community managers • The more and more media fragments, the more we need curators • Amount of freelancer bloggers is growing • Amount of professional bloggers is growing
  23. 23. We trust in power of the people and wisdom of crowds. Think Digi-first. Digitalization is on our side.
  24. 24. Media Digitalization is global opportunity www.citydigital.fi www.ilkkaolavas.com Ilkka.lavas@city.fi Twitter: @lavas Facebook: IlkkaLavas Gsm +358 400 997969 www.city.fi/profiilit/lavas/blogi http://www.linkedin.com/in/ilkkaolavas

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