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Publisher_s_Summit_part_1.pdf

 Publisher_s_Summit_part_1.pdf

Transcript

  1. What We Know So Far Penelope Muse Abernathy Knight Chair

    of Journalism and Digital Media Economics Center for Innovation and Sustainability in Local Media UNC School of Media and Journalism Looking at the Future of Texas Community Newspapers Texas Christian University October 13, 2017
  2. What “Great Thinkers” Say Historically, community newspapers in the U.S.

    have: • Set the agenda for debate of public policy issues • Encouraged regional economic growth and development • Fostered a sense of geographic identity
  3. Epiphany #2: Good journalism alone won’t sustain you if your

    business model is broken. Epiphany #2: Good journalism alone won’t sustain you if your business model is broken.
  4. A Decade of Turnover and Consolidation: Where Newspapers Owned by

    the 25 Largest Companies are Located: 2017
  5. The Pros and Cons: Three Current Ownership Models 1) Large

    chains 2) Private or family-owned 3) Nonprofit or low-profit
  6. Epiphany #3: Editors and publishers need to adopt a new

    way of thinking about and nurturing community.
  7. Follow the technology • You cannot cost-cut your way to

    long-term sustainability • You must try to skate to where you think the puck will be five years from now
  8. Follow the customer • Customer habits and preferences are changing

    even more quickly than anticipated • The future is mobile
  9. Follow the money • Newspapers are leaving money on the

    table • Your journalists and advertising sales reps must become digital experts
  10. The Foundation of a Business Plan Consists of: Your Mission:

    Why do you exist? Your Vision: What are your goals? What do you hope to accomplish? Your Strategy: How will you accomplish your vision and mission?
  11. “Strategy… is the series of choices you make on where

    to play and how to win to maximize long-term value. Execution is producing results in the context of those choices.” Source: Ken Favaro, strategy+business
  12. If You Were Creating a Business Plan from Scratch, You

    Would Provide Investors with Insight into: Context: The environment in which you will operate Opportunity: Your target customer and size of market Risk and Reward: Everything that can go right or wrong People, Processes and Procedures: What capabilities do you have? Credit: William Sahlman, Harvard Business School
  13. Assignment: 1 - Draft a simple mission statement for your

    newspaper. (It should be no more than a couple of sentences. If you are stumped, imagine what your community would be like if your newspaper ceased to exist). 2 – Identify three strengths and three weaknesses of your newspaper in its current form. Remember that there are three legs to a digital stool: content, marketing and technology.