News publishers’ problems adapting...• Not good at identifying trends; not in their DNA• Didn’t innovate enough!• Preferred follow the leader (herd mentality)• Low R&D investment compared to other industries• Difﬁcult to innovate when you have to put out a daily news product• Missed early investment opportunities (Google, Netscape, eBay, AOL -- oops!)• Didn’t create new online/digital services -- replicated news product online• Bob Kaiser (Washington Post) in 1992: suggested computer game with serious (news) purpose ... Still not much done with news games• Missed obvious threats: Craigslist, eBay, Monster.com• Digital evangelists on staff not given much power by top management
Do you think these would have succeeded? Millions of these were given away in 2000 ... The company raised $185M from investors!e.g., Sitting at your PC whilereading print magazine; scan printcode, extra content or ad shows e.g., perfume adup on PC online; consumer smells it I wonder why this 2001 product never made it out of prototype stage?!
New today: Fad? Or will it succeed? (Brad Feld investment)
Ongoing problem: Little time spent on news sites Average user: 423 minutes/month (Dec. 2011) Top 25 newspaper websites: Average user: 12 minutes/month