'Profitable'
Washington Post adding more than five dozen journalists.
That
was the headline in a recent Politico
story, providing some good news in an otherwise grim time for the newspaper
industry.
While
glad for the Post, not every media outlet has a gazillionaire like Jeff Bezos
behind it to help turn things around.
But maybe there are a few things even
small publications could learn from its success, as described in the Poilitco article.
These include:
A commitment to mobile.
“We’ll
make investments in mobile video,” says Fred Ryan, the Post’s Publisher and CEO.
This includes mobile news and ads of 15 seconds or less.
A commitment to
breaking news. The Post will add more investigative
reporters, who will work to keep up with the fast pace of news today.
A commitment to
digital.
Smartphones, Kindle, Facebook—that’s the future of news.
A commitment to circulation. In the past,
advertising was the main generator of revenue for newspapers. But as print
advertising continues to fall, that is being reversed.
The Post has seen a 75
percent increase in new subscribers in 2016, doubling its digital subscription
revenue. In the years ahead, the Post expects subscription sales to be its
leading source of revenue.
A commitment to
commentary.
As the Post expanded its op-ed contributors and volume, “opinion” stories drove
more readers to subscribe than any other content type.
This isn't surprising. At
a time when anyone can get breaking news anytime and anywhere, and for free,
few are going to pay for it. But they might pay to learn more about what that
news means, how it fits into various contexts, and how it may affect their
lives.
A commitment to
technology.
Along with the journalists, about 80 digital designers, mobile developers,
video and audio (podcast) creators and software engineers have desks in the Post's newsroom.
“This
is the face of a modern newsroom,” says Politico, adding that “these new
newsroom jobs tell us a lot about what the Post believes is now creating a new
virtuous circle of growth for the company.”
A commitment to
customization.
The Post sends out 62 different newsletters to readers, customized by
topics such as government, politics, sports, economics, faith, etc.
These
newsletters “magnify the impact of each story the Post produces,” says
Politico. “That’s the new digital virtuous news circle in creation.”
Can other publications learn from the Post? I think so.
Can they put them into practice? Maybe. That's where having someone with a lot of money sure can help.
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