RTDNA@NAB 2011 - Monetizing the Web
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Transcript of RTDNA@NAB 2011 - Monetizing the Web
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Monetizing the News:The Web Strategy
#RTDNAWEB
April 12, 2011
RTDNA@NAB 2011
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Today’s Panel
Chip Mahaney - Host
Scott Woelfel
Steve Schwaid
Ryan Murphy - Producer
@ChipMahaney
@rmurphydigital
EW Scripps Meredith Local Media
RTDNA
@swoelfel
Armchair Media
@schwaid
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Who Are You Competing With?
VS. VS.
The Traditional Battle…
The Way It Really Is…
You
VS.
The Internet
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“Show Me The (Advertising) Money”
Where the Revenue is Coming From:
On Air
Search
Sponsorship
Display via CPM
Key CPM Questions
“Do you know what drives your base CPM?” “Do you know CPM rate for local, video, remnant?”
“Do you know the percentage of revenue
you're driving from digital vs. on-air?”
“Is your team selling packages
across platforms? How?”
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Top U.S. Internet Display Advertising Site Categories – April 2010
Publisher Total Ad Imp. (MM)
Share of Impressions
Estimated Spend (000)
CPM
Newspapers 8,506 2.4% $ 59,441 $ 6.99
General News 10,850 3.1% $ 68,214 $ 6.29
Sports 10,850 3.1% $ 68,214 $ 6.29
Entertainment 38,104 10.7% $ 181,174 $ 4.75
Online Gaming 7,929 2.2% $ 21,234 $ 2.68
Portals 69,664 19.6% $ 181,266 $ 2.60
Total Internet 354,636 100.0% $ 893,681 $ 2.52
Community 15,884 4.5% $ 33,435 $ 2.10
Photos 7,391 2.1% $ 7,953 $ 1.08
e-mail 34,327 9.7% $ 32,370 $ 0.94
Social Networks 98,176 27.7% $ 54,684 $ 0.56
Source: eConsultancy.com http://econsultancy.com/us/blog/6096-online-news-commands-highest-cpm
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What Parts of My Content Are Sellable?
How the New York Times Does It With “Digital Subscriptions...”
• “Three digital subscription packages, including an all-access option, so you can choose a plan that is right for you based on the devices you own (computer, smartphone, tablet).”
• “Readers who come to Times articles through links from search engines, blogs and social media will be able to read those articles, even if they have reached their monthly reading limit. This allows new and casual readers to continue to discover content on the open Web. On all major search engines, users will have a daily limit on free links to Times articles.”
Via Arthur Sulzberger Jr in aletter on March 17, 2011.
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Paywalls: Your Thoughts?
“If the New York Times can, why can’t I?”
The Keys to Paywall Success, Simply:
Generate good content.
Convince your audience thatit’s worth paying for.
Cost Consideration
“In the debate about business models for digital publishers, the cost of audience impressions is often underestimated. The expense to create a sellable inventory of impressions requires more than content production, it also includes the cost of audience development, which can greatly exceed the cost of content production.” - Publisher vs. Advertiser Priorities: Loyalty vs. Scale
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What Parts of My Content Are Sellable?
Subscription and Membership Opportunities…
The BIG Question: “Can your NEWS SITE charge for more specific or deeper focused content like Consumer Reports, Weight Watchers or ESPN Insider?”
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Subscriptions
http://www.associatedcontent.com
http://open.salon.com/cover.php
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Hyperlocal Content
http://www.boston.com/yourtown/
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Hypertopical Content
TornadoAlleyLive.com
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Local News Partnerships
http://seattletimes.nwsource.com/flatpages/local/neighborhoodnewspartners.html
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Syndication
“Why would I give my content away to Google or Yahoo?”
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Social Media
Locate sources
“Change the “marketing” mindset! It’s not a social media campaign, it’s a social media “relationship.”
Number 1 Rule – Listen!
Don’t over share
Follow the right people
Track trends
“Remember! Engagement is tied to revenue!”
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Monetizing Social Media
“Social media is more than driving people to your site..”
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How It’s Done…
Via Lost Remote http://www.lostremote.com/top-tv-social-media/
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Monetizing Mobile
Apps
Mobile Web
Mobile Video
Hyperlocal and Hypertopical Content
Location Based Coverage, User-Generated Content
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Staffing & Workflow
Some Important Questions:
“How is your newsroom structured?”
“Who gets content onto the web? When? How?”
“Do you have a social media policy? A community manager?”
“Is your entire team thinking “content” and “revenue?”
“What’s web skills should all employees have?”
“Are you creating an environment promoting social journalism?”
“How and when do sales and news interact?”
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Questions?
Chip Mahaney - Host
Scott Woelfel
Steve Schwaid
Ryan Murphy - Producer
@ChipMahaney
@rmurphydigital
EW Scripps Meredith Local Media
RTDNA
@swoelfel
Armchair Media
@schwaid