Let’s talk turkey.
Back to finding sustainable news models. If the presidential election is any sign, we’d better pick up the pace. If we can help solve the newspaper business model problem, we’ll solve about half (if not more) of the world’s other problems, too.
Here’s the thing: One model won’t do. Not anymore. News is becoming a layered thing, and the businesses within each layer face different opportunities and challenges than those above or below. Your humble host can see a need for at least six models.
Model 1, national newspaper: The prima donna of large chains, this species of news producer can cheaply build a nationwide circulation base online because it has cross-country appeal — it’s producing original news about big issues that interest readers from Alaska to Maine.
It can compete for national advertisers. It’s supported by profits gleaned from smaller dailies in the parent chain. It might anchor a chain-owned wire service that’s fed by and to the smaller dailies and is also resold to other content providers.
It can be a destination website to which online viewers turn, or, through business deals, become a utility, available anywhere a viewer/reader is looking for national news (e.g., buy a subscription to your local daily and get a free subscription to the national paper). Or it can try to be both, a destination and a utility.
But, national papers compete on their beat, and, given the aggregating effect of the internet, how many of them can survive? How many versions of a given national event will the market bear?
Model 2, small chain: A smaller, regional newspaper chain without national aspirations, perhaps a portfolio of weeklies with an anchor daily, can also exploit economies of scale and can offer advertisers a regional buy. The papers may be able to repackage and share content (especially if the weeklies publish on different days of the week), but coverage and circulation overlaps and also can pose severe branding and management challenges. Should there be one shared regional website, or one for each publication or both, and what about Facebook? Circulatory cannibalization, brand confusion, and online content duplication can all occur.
Model 3, solo daily: The standalone daily newspaper, the traditional monopoly model, still exists but faces (as we all know) new challenges. This business can be nimble, but has little opportunity to employ economies of scale, has a limited circulation area and is reliant upon that area’s economic viability.
Model 4, online only: Like it says. Online. Only.
Model 5, online lead, print follow: We borrowed this idea from one of this blog’s followers (see, Dan, I WAS listening!). The model is this: produce a daily online news report, then develop the best of the stories for a weekly print edition.
Model 6, weeklies: The name of this blog is Save My Daily, but it may be that, in the end, our country winds up with a whole bunch of weeklies, one daily in each state capital, and one or two national papers. If that’s where we’re headed, it behooves us to consider the model for a healthy weekly.
Look, we’re just chewing this turkey down. There’s a lot to digest. If you have ideas or thoughts to share over the table, please comment. Thanks.