Adapting to Change

  • In 2010, online advertising revenue grew 13.9 percent to $25.9 billion. MSNBC.com, for example, grew 7 percent in revenue last year and has continued to operate for free like a startup since its inception in the mid 1990s. Microsoft and NBC News share that venture.

Inside the Numbers

  • Revenues for Facebook and Google grew exponentially between 2009 and 2010, while revenue for Yahoo and Aol dropped.

Taking advantage of Opportunity

  • How do you open a new product and change the media frontier?
  • Engagement: No longer are journalists expected to shout the news form a remote location, they are on the ground with the people.
  • Building Trust: Being transparent with the audience and giving them what they want in an online medium.

What makes a successful news start up?

  • Analyze your competition
  • Learn how some blogs have grown into big businesses or other mediums like books or magazines
  • get inspired by others who have beat the odds
  • set your own goals and achieve
  • quality content pays
  • pick a niche and go deep
  • check out the new app economy
  • understanding how to do business while being a journalist
  • be ethical and stick with it

Creating revenue models

  • Syndication: Will other companies pay for your content?
  • Custom content: Will people log onto your platform and pay for specific content?
  • Online ads: What do you have to offer that the competition doesn’t?

Elements of Innovation

  • Be creative
  • Take risks
  • Hard work

 

Make Innovation a Strategy

  • Make a priority
  • Make failure acceptable
  • set goals
  • be agile
  • see innovation as a product

Bring start up culture to your newsroom

  • Think hyper local and give authority to more people but in concentrated areas
  • we report, you decide: monthly meetings

Choose the right technology

 

 

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