New digital revenue streams
THE local newspaper industry is slowly making the transition from a traditional print publishing platform to standing hand in hand with the modern age of digital, according to newspaper executive Earl Wilkinson.
International News Media Association CEO Earl Wilkinson says companies need to invest in innovation now more than ever if they hope to remain competitive as old media comes to terms with structural changes.
“The industry is fast becoming about print directing consumers to multimedia content. This then means making the most of areas of developing growth like video,” Mr Wilkinson said.
In his role, Mr Wilkinson travels the world collating ideas on how different companies are best handling the changing media landscape.
He cited ideas from India, the United States,
Canada, Sweden and more as he briefed Future Forum attendees on 10 new revenue streams that together can plug the hole left by print advertising.
By creating a stronger partnership with print and online platforms, Mr Wilkinson said consumer traffic would ultimately result in publications becoming like interactive television channels.
This would make companies more attractive to advertisers, potentially into an outlet that fills revenue holes lost due to the initial digital inertia. – KRIS WALL