1 / 41

A New Future of Journalism

A New Future of Journalism . By: Matt Couto , Yuko Inoue, Sarah Spitz, Megan Stacey and Dan Taekema. DEVELOPMENT. Source. Source. HOW DID WE GET HERE?. Street corner and messenger model Advent of the Internet Acceptance of a “digital age” Movement of content to online spheres

ophira
Download Presentation

A New Future of Journalism

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. A New Future of Journalism By: Matt Couto, Yuko Inoue, Sarah Spitz, Megan Stacey and Dan Taekema

  2. DEVELOPMENT Source Source

  3. HOW DID WE GET HERE? • Street corner and messenger model • Advent of the Internet • Acceptance of a “digital age” • Movement of content to online spheres • Revenue via digital advertising • Fall of online ads • Alternate revenue streams • Reader subscription

  4. PAYWALL MODELS IN THE INDUSTRY

  5. A BRIEF RUNDOWN...

  6. HARD-PAYWALL MODEL

  7. HARD-PAYWALL MODELEXAMPLE: THE WALL STREET JOURNAL

  8. Case Study: • One of the first news organization to set up a paywall. • Hard style paywall. Readers pay to access all content. • Daily access costs £1 (about $1.66 CDN) • Paywall has been considered a failure by many. • Described as “too harsh” and “alienating to readers” -Krashinsky, Susan. "Website pay wall drops Times of London readership." The Globeand Mail. http://www.bandbassociation.org/

  9. Case Study: Results: • Lost over 4 million online readers • Page views dropped by 90-per-cent -Erik Schonfeld, "The Times UK Lost 4 Million Readers to its Paywall Experiment.” TechCrunch.com • Statistics from 2013 show approximately 2,100 subscribers are joining per month - Patrick Smith, "Three years on: Has the Times digital subscription project worked?.” The Media Briefing. http://www.bandbassociation.org/

  10. Case Study: Reasons for failure: • Too harsh of a paywall, people can find same stories elsewhere online for free • Loss of readers kills advertising potential which leads to further losses in subscription revenue. -Phillip Crawley, September 26, 2013, phone. http://www.bandbassociation.org/

  11. METERED-PAYWALL MODEL

  12. METERED-PAYWALL MODELEXAMPLES: NEW YORK TIMES, NATIONAL POST, GLOBE AND MAIL, OTTAWA CITIZEN

  13. CASE STUDY: • Established a metered paywall in March 2011 • Options range from $3.75 per week to $8.75 per week depending on what you want access to • 10 complimentary articles per month • Considered by many to be the most successful paywall to date -Sulzberger, Arthur. "A Letter to Our Readers About Digital Subscriptions." The New York Times. http://goo.gl/wUv5Ii

  14. CASE STUDY: Results: • As of August 2013 The New York Times has 699,000 online subscribers • Approximately 100, 000 subscribers are joining each year • The paywall brings in $150 million each year -Ryan Chittum, "The NYT's $150 million-a-year paywall." Columbia Journalism Review. http://goo.gl/wUv5Ii

  15. CASE STUDY: . Why has the paywall been such a success? • The New York Times has an international audience • It’s “elite journalism” high quality journalism that many readers consider worth paying for –Dinah Metah, "Newspaper Paywalls Canada: If you Build it Will They Pay?.” Huffington Post. http://goo.gl/wUv5Ii

  16. CASE STUDY: • Toronto based news corporation that owns numerous papers including the National Post, Montreal Gazette and the Ottawa Citizen. • Instituted a metered paywall in 2012 • 15 free articles per month • Initial online access costs 99 cents per month • Rises to $9.95 per month (or $99.50 per year) -Tencer, Daniel. "PostmediaPaywall: National Post, Ottawa Citizen, Vancouver Province and Vancouver Sun Enact 'Metered' Paywall System." Huffington Post. - http://goo.gl/tJVWAv

  17. CASE STUDY: Has the paywall been a success? • It’s too early to tell. • Unlike the New York Times the Citizen won’t draw and international audience, and it doesn’t have the resources to produce ‘elite’ journalism like the New York Times. • However, the Citizen can draw on a large local audience which may make the paywall a success. http://goo.gl/tJVWAv

  18. Modeled off of New York Times system • Metered paywall at $20/month with 10 free articles • Full-time print subscribers get free online access, which has increased print subscriptions • Successfully hooks consumers with 99-cent, month-long trial

  19. Globe released a performance report in February 2013 – four months after the paywall launch • 80 000 online subscribers (closer to 100 000 today) • No negative impact on advertising market at all, according to VP Andrew Saunders • Daily unique visits remained at 4 million a month because consumers have 10 free articles • Despite Saunder’s claims, a June 2013 report showed a 40% decrease in online readership

  20. Globe publisher Phillip Crawley said that where paywalls haven’t worked, it’s because “the content is just not good enough” • Globe is “worthy of the charge” as it offers unique content, specifically: foreign bureau coverage and insider columns on business and politics • People need to feel the content can’t be found elsewhere, or they will consume the free version • Globe’s news quality comes from its attempt to target a specific audience

  21. Globe attempting to gain extra revenue by diversifying its products • Globe2Go • Kindle/Ebook Paper • Ebooks/Article Collections • Feeds/Newsletters • Reprints • Art Store

  22. “Paywall partnership” with the New York Times? • Globe offering a deal along the lines of a cross-media “package” • Option to subscribe to the New York Times is listed on the Globe products page • Subscribers of the Globe get a discount on a subscription with the New York Times

  23. PREMIUM CONTENT MODEL

  24. PREMIUM-CONTENT MODELEXAMPLE: THE BOSTON GLOBE

  25. CASE STUDY: • Header ↑ shows keenness in audience engagement

  26. ACCESSIBLE READING • IN GENERAL • Content without the icon • e.g. Stock portfolio, non-specialized pieces

  27. ACCESSIBLE READING CONT’D • IN SPECIFIC CASES • Disasters • Elections • Competitive advantage • e.g. NYT shut down

  28. THE NYT SHUT DOWN

  29. WHY PAY? (via the Guardian) • The article mentioned WSJ to make the • following arguments • Size matters • Specialized content helps

  30. SPECIALIZED CONTENT…WHO’S THE AUDIENCE? • “Meet the Reader” (under audience) http://www.wsjmediakit.com/newspaper • The Global Edition (U.S., Asia and Europe) • 80% Male • Avg. age 51 • Earn avg. $245,766/yr

  31. WSJ DIGS(↓Global ed. stats for advertisers)

  32. Subscription # History • One of the first U.S. papers to install a paywall- 1997 (a year after the 1st - Slate) • WSJ.com reaches 200,000 online readers • 1998 • WSJ.com reaches a million online readers • 2007

  33. Back in 1997...(via Wayback Machine)

  34. When #s compared...

  35. SYSTEM CHALLENGES • Creating connection with readers • Diversifying content • Convincing audience of content value • Economic climate – rising costs, few alternatives

  36. Source

  37. OUR MODEL: The Basics • Digital subscription divided by sections • News $3 • City $3 • Arts $2 • Business $2 • Comment $2 • Life, Auto, Travel, Technology etc. $2 • Each section has its own cost, which would be significantly lower than paying for the whole paper • 5+ sections (entire paper) can be purchased for $10 • Gives more “bang for your buck” • Receive only the content you deem valuable

  38. OUR MODEL: The Specifics • Metered paywall – receive standard 10 articles per month before subscription • Netflix model • Trial month • Hassle free monthly payment and renewal • Capitalize on local audience • City section • Free access to obituaries • Discounted rate for students

  39. WHERE DO WE GO FROM HERE? • What options are available for the news industry to stay viable and maintain its standards at the same time? • What determines which sections you read? What makes you click a link? • What would entice you to purchase a digital subscription? • How do you define quality news content for a section of a local paper? • What is the most you would pay for a digital subscription?

  40. Phillip’s Audio, just so we don’t lose it

More Related