Difference between revisions of "Rji-pivot-project-information-newco"
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− | + | :NEW TECHNOLOGY OPENS OPPORTUNITIES FOR MEDIA TO STRENGTHEN RELATIONSHIPS WITH THE COMMUNITIES THEY SERVE | |
*More compelling content through inclusion of all stakeholders | *More compelling content through inclusion of all stakeholders |
Revision as of 14:37, 3 July 2012
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- An outline of the reasons why the news industry needs a shared-user network for trust, identity, privacy and information commerce. An "information newco" is proposed. Champion: Buzz Wurzer.
BACKGROUND ON BUZZ WURZER
BACK TO PROJECT SUMMARIES / BACK TO PIVOT POINT OVERVIEW
- NEW TECHNOLOGY OPENS OPPORTUNITIES FOR MEDIA TO STRENGTHEN RELATIONSHIPS WITH THE COMMUNITIES THEY SERVE
- More compelling content through inclusion of all stakeholders
- The most innovative distribution channels for improved content
- A shared user network as a way to best monetize improved content
GUIDING PRINCIPLES ARE TO:
- Specify the architecture for improved content
- Parcel out the action points to achieve the architecture
- Outline the partnerships, alliances and collaborations to distribute and monetize the improved content
Contents
CORE ISSUES:
- Digital publishing has over taken traditional media publishing model
- Traditional media's role as an information gatekeeper has been transformed to 'many to many" publishing model
- Information users are inundated with too much information and of limited value
- Traditional media revenue has seriously eroded with little end in sight
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KEY NECESSARY ACTION STEPS:
- A new model for information gathering and producing compelling value is imperative
- An assessment of what users seek as valued content is needed
- A duality of information networks are necessary to return traditional media to sustainability
- Traditional media needs to partner with innovative technology, software and digital startups to highlight their storied brands, provide creative navigation tools and distribute compelling content in a platform neutral environment.
OLD VS NEW INFORMATION CONTENT MODEL:
- Get and report key story facts
- Expand story to a news analysis when more facts are available
- Provide editorial opinion when appropriate
- Place serendipitous advertising around the above
- Include all publics in the real time, ongoing story discovery process
- Optimize navigation, search and social network tools to enhance story value
- Continue, build and distribute story value for all digital/analog channels
- Enhance story value with targeted opt-in advertising messages and pertinent product and services e-commerce
The old model:
The new model:
KEY USER INFORMATION NEEDS:
- Issues and events
- Environment, economic and social
- Education
- Government
- Leaders, Organizations
- Healthcare/Wellness
- Politics/Taxes
- Economic Environment
- Education
- Environment
- Faith Based/ Religion
- Global Affairs
- Technology
Local markets -- covering community
General information --covering by interest sectors
LOCAL vs. NATIONAL NETWORKS ROLES:
- The network consists of individual local media partners, market by market, migrating from legacy to digital mode
- Local media must migrate to the new model of information gathering and distribution
- Each market is its own proprietary network with unique registration, payment plan and data base profiling
- Each market is augmented by its own local ads and e-commerce software
- Each market sets their own costs
- The network is formed and operated as an independent, entrepreneurial Newco
- The network shares the home page of each local market digital offering regardless of device
- The network creates the information by sector that drives people’s lives beyond their community
- Each sector content is created by partnering with new digital only startups in each sector working in tandem with legacy editors on a re-organized national, regional and state basis
- The network is accessed by a common ID Pass
- It is a shared user network that provides, atomized, or disaggregated, content
- The network offers personal information agents that users interact with to enrich their sector’s information
- With opt-in user profiling and mass user data base, this new network becomes an attractive buy for national interactive advertising and marketing budgets
- This network has new, dynamic authentication and micro-payment processing protocols
- The network has a US tolls pass, not a Florida Sun Pass; it has a VISA card, not a Macy’s card; it has an ASCAP royalty return for all parties, whether Local Only; whether Newco only; whether user move back and forth between any and all networks
- Newco establishes a cost structure that all members agree to accept
Local networks -- This local network requires dramatic fixing
SOLVING THE REVENUE PROBLEM:
- Local keeps print revenue as long as possible
- Local builds new local digital revenue via improved civic storytelling and various commercial offerings
- Provides massive data base of collective shared users
- Builds large niche data base relative to each content sector
- Becomes a must consider for all national interactive, marketing/advertising budgets
- Paves way for endless possibilities of partnerships with digital start-ups and key advertisers
- Paves way for potential alliances with mass and class portals
- Major share of new revenue returned to local media partners for local network investment
Local
National