SlideShare a Scribd company logo
Becoming The Economist
of Metro Newspapers
&
The Pursuit of the Tablet
Audience
Jim Moroney
April 2012
WHAT IS THE SAME
The goal of journalism:
An informed public
that can make
wise decisions
to govern itself.
WHAT IS NOT THE SAME
2007
$42.2M
2011
$20.6M
WE ARE NO LONGER PUBLISHING
FOR A MASS AUDIENCE
WE ARE PUBLISHING FOR
“THE MASS INTELLIGENT”
As The Economist labels it.
DEMOGRAPHICS
MARKET SIZE
BIGSMALL
ELITE MEDIA
MASS
INTELLIGENCE
MASS
MEDIA
AUDIENCE:
THE MASS INTELLIGENT
AUDIENCE:
THE MASS INTELLIGENT
THE ECONOMIST
THE NEW YORKER
THE ATLANTIC
HBO
ART GALLERIES
LIVE THEATER
CLASSICAL CONCERT
People who read/watch/attend
at least two of…
PEOPLE MAGAZINE
US WEEKLY
THE OPRAH MAGAZINE
SPORTS ILLUSTRATED
ESPN
FAMILY GUY
THE SIMPSONS
SATURDAY NIGHT LIVE
AMERICAN IDOL
39%
[ SOURCE: MRI, FALL 2007 ]
We do not believe
that dumbing down
our content is how
we will succeed.
There is a sufficient
audience for intelligent
reporting, curating and
aggregating of news
and information.
Harry Potter
HBO
“The Lion King”
“The King’s Speech”
The Economist
The New York Times
Our writing will remain
the core of what we
and all other clever publications
reaching clever people do.
[John Micklethwait, Editor-in-Chief, The Economist]
VALUE OF CONTENT
Relevance
Value
Differentiation
WHO, WHAT,
WHEN & WHERE
ARE COMMODITIES
is table stakes.
Consumers expect you to have
it, yet you can’t win at it.
TODAY
the value of reporting lies in
& WHAT
HOW, WHY
IT MEANS TO
ME
PICA
Perspective
Interpretation
Context
Analysis
PICA means
Beat reporters.
Columnists.
Subject matter experts.
A focus on certain
categories of local
coverage where you can go
deep and own education,
economy, government,
sports, arts, etc.
 Print advertising revenue will no longer
support high-end journalism
 For local media, ad revenue derived from
digital publishing will not pay for the cost
of creating relevant and differentiated
content that attracts a ‘mass intelligent’
audience
 You will need to cross-subsidize your
journalism beyond advertising.
THE FINANCIAL MODEL CHALLENGE
LEAN BACK
THE FIRST AGE:
LEAN-BACK PRINT
RITUAL PLEASURE
OF READING
THE SECOND AGE:
LEAN-FORWARD WEB
SNACKING AND RESEARCH,
COMMUNITY SHARING
THE THIRD AGE:
LEAN-BACK DIGITAL
LEAN-BACK
ONLY BETTER
O
I have gradually become used
to dividing my reading into two
zones: The work, laptop, info
zone; and the chill, relaxing,
leisurely read of the tablet.
[Andrew Sullivan, The Sunday Times]
IMMERSED IN THE CONTENT:
42% OF TABLET NEWS READERS REGULARLY READ IN-DEPTH
NEWS ARTICLES. ANOTHER 40% SOMETIMES DO THIS.
THEY ARE THREE TIMES AS LIKELY TO REGULARLY
READ IN-DEPTH ARTICLES AS TO WATCH NEWS VIDEOS.
[ SOURCE: PEW Project for Excellent Journalis
[ SOURCE: PEW RESEARCH (US) IN ASSOCIATION WITH THE ECONOMIST GROUP, OCTOBER 2011]
NOT A ZERO-SUM GAME:
TIME SPENT WITH NEWS NOW COMPARED
WITH BEFORE OWNING A TABLET
Share of US Traffic:
Class web
91.8%
Mobile web:
5.2%
Tablets
2.5% Other
0.5%
WE AREN’T ABANDONING THE WEB
BUT OUR DEVELOPMENT RESOURCES
ARE FOCUSED ON THE TABLET
[ SOURCE: GARTNER, Emarketer ]
2
1
SUMMARY
Content derives value
from its relevance and its
differentiation.
For local media
organizations, this means
covering local news.
It is the most relevant and
differentiating reporting
you can do.
There is very little value
in W,W,W,W, reporting.
It’s undifferentiated and a
commodity.
You can’t charge for
commodity content.
We are working to put
more PICA into our
reportIng in order to
differentiate it and build
value for it.
In order to do this, we
are working to build
more subject matter
expertise in our
newsroom and through
affiliations, particularly
area universities.
3
4
5
6
8
7
SUMMARY
PICA combined with scales
says “you can’t get this kind
of reporting any other place”
This means differentiation.
PICA and “intelligent”
reporting is not a mass
audience strategy
We are focused on a
smaller audience that will
pay for high-end, quality
journalism
9
10
11
We believe this audience
and this kind of journalism
will rapidly be building a
news reading habit on
tablets – and for now, that
means the iPad.
The one catch:
We must preserve the
scale of our newsroom
to be successful with
this strategy and to do
this, we must develop
sources of revenue
other than advertising.
Moroney

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Moroney

  • 1. Becoming The Economist of Metro Newspapers & The Pursuit of the Tablet Audience Jim Moroney April 2012
  • 2. WHAT IS THE SAME The goal of journalism: An informed public that can make wise decisions to govern itself.
  • 3. WHAT IS NOT THE SAME 2007 $42.2M 2011 $20.6M
  • 4. WE ARE NO LONGER PUBLISHING FOR A MASS AUDIENCE
  • 5. WE ARE PUBLISHING FOR “THE MASS INTELLIGENT” As The Economist labels it.
  • 6.
  • 8. AUDIENCE: THE MASS INTELLIGENT THE ECONOMIST THE NEW YORKER THE ATLANTIC HBO ART GALLERIES LIVE THEATER CLASSICAL CONCERT People who read/watch/attend at least two of… PEOPLE MAGAZINE US WEEKLY THE OPRAH MAGAZINE SPORTS ILLUSTRATED ESPN FAMILY GUY THE SIMPSONS SATURDAY NIGHT LIVE AMERICAN IDOL 39% [ SOURCE: MRI, FALL 2007 ]
  • 9. We do not believe that dumbing down our content is how we will succeed. There is a sufficient audience for intelligent reporting, curating and aggregating of news and information. Harry Potter HBO “The Lion King” “The King’s Speech” The Economist The New York Times
  • 10. Our writing will remain the core of what we and all other clever publications reaching clever people do. [John Micklethwait, Editor-in-Chief, The Economist]
  • 12. WHO, WHAT, WHEN & WHERE ARE COMMODITIES
  • 13. is table stakes. Consumers expect you to have it, yet you can’t win at it.
  • 14. TODAY the value of reporting lies in & WHAT HOW, WHY IT MEANS TO ME
  • 16. PICA means Beat reporters. Columnists. Subject matter experts. A focus on certain categories of local coverage where you can go deep and own education, economy, government, sports, arts, etc.
  • 17.  Print advertising revenue will no longer support high-end journalism  For local media, ad revenue derived from digital publishing will not pay for the cost of creating relevant and differentiated content that attracts a ‘mass intelligent’ audience  You will need to cross-subsidize your journalism beyond advertising. THE FINANCIAL MODEL CHALLENGE
  • 18. LEAN BACK THE FIRST AGE: LEAN-BACK PRINT RITUAL PLEASURE OF READING THE SECOND AGE: LEAN-FORWARD WEB SNACKING AND RESEARCH, COMMUNITY SHARING THE THIRD AGE: LEAN-BACK DIGITAL LEAN-BACK ONLY BETTER O
  • 19. I have gradually become used to dividing my reading into two zones: The work, laptop, info zone; and the chill, relaxing, leisurely read of the tablet. [Andrew Sullivan, The Sunday Times]
  • 20. IMMERSED IN THE CONTENT: 42% OF TABLET NEWS READERS REGULARLY READ IN-DEPTH NEWS ARTICLES. ANOTHER 40% SOMETIMES DO THIS. THEY ARE THREE TIMES AS LIKELY TO REGULARLY READ IN-DEPTH ARTICLES AS TO WATCH NEWS VIDEOS. [ SOURCE: PEW Project for Excellent Journalis
  • 21. [ SOURCE: PEW RESEARCH (US) IN ASSOCIATION WITH THE ECONOMIST GROUP, OCTOBER 2011] NOT A ZERO-SUM GAME: TIME SPENT WITH NEWS NOW COMPARED WITH BEFORE OWNING A TABLET
  • 22. Share of US Traffic: Class web 91.8% Mobile web: 5.2% Tablets 2.5% Other 0.5% WE AREN’T ABANDONING THE WEB
  • 23. BUT OUR DEVELOPMENT RESOURCES ARE FOCUSED ON THE TABLET [ SOURCE: GARTNER, Emarketer ]
  • 24. 2 1 SUMMARY Content derives value from its relevance and its differentiation. For local media organizations, this means covering local news. It is the most relevant and differentiating reporting you can do. There is very little value in W,W,W,W, reporting. It’s undifferentiated and a commodity. You can’t charge for commodity content. We are working to put more PICA into our reportIng in order to differentiate it and build value for it. In order to do this, we are working to build more subject matter expertise in our newsroom and through affiliations, particularly area universities. 3 4 5 6
  • 25. 8 7 SUMMARY PICA combined with scales says “you can’t get this kind of reporting any other place” This means differentiation. PICA and “intelligent” reporting is not a mass audience strategy We are focused on a smaller audience that will pay for high-end, quality journalism 9 10 11 We believe this audience and this kind of journalism will rapidly be building a news reading habit on tablets – and for now, that means the iPad. The one catch: We must preserve the scale of our newsroom to be successful with this strategy and to do this, we must develop sources of revenue other than advertising.