Future of media is here today. Lessons learned while turning City Magazine into Digital Era

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Lessons learned while transforming legendary CITY Magazine to the fastest growing media family City Digital Serial entrepreneur Ilkka O. Lavas 15.10.2013

Transcript of Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Page 1: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Lessons  learned  while  transforming  legendary    

CITY  Magazine    to  the  fastest  growing  media  family  City  Digital  Serial  entrepreneur  

Ilkka  O.  Lavas  15.10.2013  

Page 2: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Media  DigitalizaFon:  City  Digital  How  did  we  jump  to  Finnish  top10  

list  in  11  months  

TransformaFon  from    suffering  print  magazine            into        Growing  and  Successful  City  Digital  Media  Family  

Page 3: Future of media is here today. Lessons learned while turning City Magazine into Digital Era
Page 4: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Ilkka  O.  Lavas  •  Started  1st  company  17  years  old  •  2  books  about  entrepreneurship  •  Partner,  board  member,  investor  

–  PorQolio  of  15  businesses  –  10+  aquisiFons  done  –  3  exits  

•  Young  Entrepreneur  of  the  year  2009  in  ’Southern  Finland’  

•  34years,  2  boys,  1  wife,  1343  Y  connecFons,  1236  linkedin  conns,  twi[er  @lavas    

•  ”Guy  Kawasaki  of  Finland”  

Page 5: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Скидки  круглый  год  

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Page 6: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

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Page 7: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Lesson  1#  •  Never  underesFmate  how  digitalizaFon  affects  to  the  media  culture.  

•  Even  your  grandmother  may  be  using  iPad  •  Media  usage  is  fragmented  •  We  read  curated  media  rather  than  single  medium  

•  We  follow  and  consume  sites  that  our  friends  are  suggesFng  and  linking  

Page 8: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Earlier  in  history  1900-­‐  business  process:  Press  –>  Delivery  –>  Consumer  DigitalizaFon  2000-­‐:  JOURNALIST  –>  CONSUMER  

Media  fragmentaFon  is  on  our  side  

Photo:  Inside  Australia,  sculptures  by  Antony  Gormley,  Lake  Ballard,  Western  Australia  

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Page 10: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

What  is  City  Digital  ?  

Page 11: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

What  City  Digital  is?  

City  Digital  is  family  of  medias,    focusing  on  quality  journalism,  City  –life  and  phenomenons.    City  Digital  reaches  Finnish  digital  elite  20-­‐45-­‐years,  who  spend  all  of  their  money  and  free  time  in  themselves.  City  users  are  active  and  trendy.  

"City  Digital  on  kohderyhmäverkosto,  joka  keski=yy  kaupunkikul=uurin  ilmiöihin,  vapaa-­‐aikaan  ja  viihteiseen.  City  Digitalin  tavoi=amat  käy=äjät  ovat  noin  20-­‐45-­‐vuoFaita  lapse=omia  kaupunkilaisia,  jotka  kulu=avat  rahansa  ja  vapaa-­‐aikansa  itseensä.  He  syövät  tänään  sitä  puuroa  mitä  sinä  haluat  huomenna.  City  Digital  tarjoaa  perinteisen  display  mainonnan  ratkaisujen  lisäksi  asiakkailleen  yhdessä  asiakkaan  lähtökohdista  toteute=avia  sisältömarkkinoinF  toteutuksia,  jotka  medioiden  omat  "naFivit"  tuo=avat.  Kiinnostavat  sisältömarkkinoinF  toteutukset  on  jae=avissa  niin  City  Digital  verkostossa  kuin  asiakkaan  omissa  kanavissa."  

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"City  Digital  on  kohderyhmäverkosto,  joka  keski=yy  kaupunkikul=uurin  ilmiöihin,  vapaa-­‐aikaan  ja  viihteiseen.  City  Digitalin  tavoi=amat  käy=äjät  ovat  noin  20-­‐45-­‐vuoFaita  lapse=omia  kaupunkilaisia,  jotka  kulu=avat  rahansa  ja  vapaa-­‐aikansa  itseensä.  He  syövät  tänään  sitä  puuroa  mitä  sinä  haluat  huomenna.  City  Digital  tarjoaa  perinteisen  display  mainonnan  ratkaisujen  lisäksi  asiakkailleen  yhdessä  asiakkaan  lähtökohdista  toteute=avia  sisältömarkkinoinF  toteutuksia,  jotka  medioiden  omat  "naFivit"  tuo=avat.  Kiinnostavat  sisältömarkkinoinF  toteutukset  on  jae=avissa  niin  City  Digital  verkostossa  kuin  asiakkaan  omissa  kanavissa."  

City  Digital  sites:  

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We  need  to  new  thinking.  Blue  ocean  strategy:  We  are  family.  Media  family.  

Growing  Media  Family  is  stronger  together.  We  learn  from  each  others.      

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Business  model  transformaFon  

•  1985-­‐2012  •  Business:  print  magazine  

 •  Area:  Helsinki,  Tampere,  Oulu,  Vaasa,  Local  •  Customers:  

Locals,  Finnish  AdverFsers  •  CirculaFon  200k-­‐450k  

 •  Visitors  on  web  site  100k  •  Content  creators/journalists:  20  

•  2012-­‐2013  (11  months)-­‐>  •  Business:  Media  Family  

”the  record  company  of  web  sites”  •  Area:  Finland,  w/  Global  startups  •  Customers:    

Local  brands,  Finnish  AdverFsers,  Global  AdverFsers  

•  CirculaFon:  1100k  /  Magazine  •  Visitors  on  web:  500k/week  •  Content  creators/journalists:  150  

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City  Digital  visitors  •  Weeks  37-­‐40/2013  avg    

(TNS  Metrix)  •  Uniques  visitors  427  789  •  Unique  browsers  509  819  •  Page  views  1  778  858    

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Lessons  #2  

Bloggers  are  new  media  stars.    •  Journalists  have  to  learn  how  people  are  consuming  media  

•  Power  of  tradiFonal  media  is  shrinking,  #fashion  trends  are  arising  from  blogs  and  on  streets  

•  Single  blog  post  can  sell  more  than  front  page  of  the  biggest  naFonal  tradiFonal  newspaper  

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in  11  months  

TransformaFon  from    suffering  print  magazine            into        Growing  and  Successful  City  Digital  Media  Family  

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Lessons  #3  

Anyone  can  be  a  mediastar  •  Anyone  can  start  new  media  business  in  minutes  •  Innovators  and  entrepreneurs  are  new  mediamoguls  

•  Need  for  Media  Families  ”the  record  companies  of  fragmented  media  ages”  arise    

Page 19: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

 City  Digital  

 Cross  Media  MarkeFng  

Mix  Online-­‐Offline-­‐Radio-­‐Live-­‐Print-­‐Venue  

 

Page 20: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Lesson  #4  

We  don’t  need  tradiFonal  TV  anymore  to  create  phenomenas.    •  Online  video  consuming  is  growing  •  Videodisplay  adverFsing  is  more  popular  •  Biggest  TV  ”channel”  is  Youtube  

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 City  Digital  

 Organizing    Movie  nights    and  great    ParFes  

 

Page 22: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

We  reinvented  the  process  of  creaFng    City  –print  Magazine  

Online  journalism  

We  publish  everything  first  in  our  online  medias.  We  measure  everything.  Likes,  shares,  comments  to  know  what  people  want  to  read.  

Printed  City  

Magazine  

Print  has  limited  space.    Stories  in  print  are  

shortened.    Read  more  online  

www.city.fi  /  uniqueurl  

500k  weekly  

On  demand  PrinFng  900.000  pcs  of  printed  mags  

Page 23: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Co-­‐operaFon  w/  SummerUP  fesFval  30000  guests  

Page 24: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

New  ways  for  journalism  Journalism  becomes  more  visual  •  We  have  noFces  that  ”old-­‐school”  journalism  is  not  working  for  

everybody.  We  need  new  ways  for  touching  people:  •  Feelings  journalist,  creates  stories  that  makes  you  feel  something  •  Videojournalism  is  growing  fast  •  Need  for  new  job  Ftles,  i.e.  instagramjournalists,  hashtagjournalists,  

twi[ercurators  and  Facebook  manager  •  The  more  and  more  media  fragments,  the  more  we  need  curators  •  Amount  of  freelancer  bloggers  is  growing  •  Amount  of  professional  bloggers  is  growing  

Page 25: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

We  trust  in  power  of  the  people  

and  wisdom  of  crowds.    

Think  Digi-­‐first.    DigitalizaFon  is  on  our  side.  

 

Page 26: Future of media is here today. Lessons learned while turning City Magazine into Digital Era

Media  DigitalizaFon    is  global  opportunity  

www.citydigital.fi  www.ilkkaolavas.com  

 [email protected]  Twi[er:  @lavas  Facebook:  IlkkaLavas  Gsm  +358  400  997969  www.city.fi/profiilit/lavas/blogi  h[p://www.linkedin.com/in/ilkkaolavas    


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