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Creating a Dynamic Media Environment: The Business of News

Conference on Media Development in Myanmar Organized by the Ministry of Information and UNESCO Michelle Foster Media Management and Marketing 19-20 March 2012, Yangon. Creating a Dynamic Media Environment: The Business of News. John Knight Founder Knight-Ridder.

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Creating a Dynamic Media Environment: The Business of News

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  1. Conference on Media Development in Myanmar Organized by the Ministry of Information and UNESCO Michelle Foster Media Management and Marketing 19-20 March 2012, Yangon Creating a Dynamic Media Environment: The Business of News

  2. John Knight Founder Knight-Ridder “Excellent journalism is good business”

  3. A competitive media sector • Raises economic development • Helps create a middle class • Contributes to stability • Links buyers and sellers • Creates jobs • Stimulates spending • Creates “marketplaces” • Supports business decision-making

  4. What creates a thriving media market? • A strong environment for business • Free and competitive markets where advertising plays a vital role • Infrastructure that supports news • Creation • Distribution • Monetization • Customer-focused business culture + excellent management

  5. 1. A strong environment for business

  6. Transparent laws, taxes and standards. • Licensing that is: • Free • Independent of “auctions” • Neutral • Centralized • Without barriers • Flexible

  7. Diversify to succeed “The most successful models tend to have diverse pie charts – they show more than one source of revenue.” Eric Newton, Senior Advisor to the President John S. and James L. Knight Foundation

  8. Ownership requirements: • Transparent • Straight-forward taxation • Accountability for audience and finances

  9. 2. Advertising plays a vital role • Science, art & accountability • 80 – 100% of revenues • Rates set by market forces • Advertising as a critical business skill • Bad ads get bad results

  10. #3. Infrastructure to support news creation, distribution, monetization

  11. Media distribution can be limited by many factors Cambodia: Limited roads and lack of transportation East Timor: Lack of electricity Malaysia: Ethnic minorities in remote areas Cambodia – homes not accessible to media

  12. Internet and mobile technology are changing the game Transcend geography Make news affordable and accessible Better targeting of ad messages

  13. Must be engaged with new media Social media drives audience to news sites News sites make money when search engines send ads to their audiences There is no revenue if sites are not searchable and indexed

  14. AdSense helps publishers make money from content • Display ads targeted to individuals • No wasted distribution • Publishers paid • Per click • Per impression • Internet must be searchable

  15. #4. Create excellent business management focused on customers

  16. Hybrid models are emerging • Freemium • Premium • Long tail • Print + • Online + • Mobile + • Tablet + • Events + • Marketing services

  17. A passion for readers must be matched with a passion for business Strong knowledge of how advertising works Business know-how Respect for advertisers If they succeed, we succeed

  18. Good journalism is not free.It can be good business.

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