Every morning The Chronicle Herald masthead proudly announces that the paper has "Atlantic Canada's Largest Reach", with 316,700 print readers daily and another 78,074 returning online users. For a paper that has had its share of troubles lately, it's a not-so-subtle nudge to prospective advertisers: "Hey, send us some ad revenue love over here! People are still reading the herald! Perhaps more now than ever before!"
As The Chronicle Herald joins many other North American dailies trying to stay afloat these days, it seems the question they're asking themselves is: Why are advertisers moving elsewhere when our readership remains solid?
I think it might be better to start with another question: What are we going to do with the gift of attention we receive every day from 394,774 people to build a viable news service that can thrive today and in the future?
Yeah, I like that re-phrased question. Why are they trying to force people to the print version when we're consuming online and through other channels?
Posted by: Giles Crouch (Webconomist) | May 04, 2009 at 10:12 AM
Coming from within on of these old media machines, my observation is that the biggest issue they have with the shift from print to online, is the top line, that is total revenue. They know the best case senerio is $.28 in digital for $1 in print they currently have. Most of these companies have serious issues with the idea they may "shrink" by 70% despite the fact they could actually improve their profitability and reader services. And as such sit hesitantly in their boardroom not making the key moves that need to be made and will deliver their future in the new media world. They know what they should do, but won't.....
Posted by: Alex L | May 04, 2009 at 10:26 AM
Unfortunately, there is no silver bullet answer for the daily news industry, I think that Alex is close to the mark in that the old thinking organizations have to invest in understanding and then trying to innovate in how they engage and deliver content and services to thier audience. The Guardian in the UK is an organization that is embracing digital content. i am sure there is a lesson there for the Herald.
Posted by: Malcolm Fraser | May 04, 2009 at 11:06 AM
Thanks for the comments guys - much appreciated. It will be interesting to see how the Herald and others make the transition (or not). As Shirky notes, the old business models break before the new ones are invented.
Posted by: cpirie | May 04, 2009 at 07:18 PM
A post from Jeff Jarvis that may be of interest... http://www.buzzmachine.com/2009/05/04/wwgd-with-newspapers/
Posted by: cpirie | May 04, 2009 at 08:54 PM