New dig­i­tal rev­enue streams

The Bulletin - - 2013 Future Forum -

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

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