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Welcome to the New Revenue Models Study Tour! The World Association of Newspapers and News Publishers (WAN-IFRA) has organised this week-long study tour showcasing a variety of new revenue models and strategies in Chicago, Boston and New York for news media executive participants. The themes for the study tour are developing corporate cultures of innovation and entrepreneurship, in order to build substantial new revenues.
Exploring new revenue models is one of the most important strategies for the world's media companies today, as traditional revenue models of print advertising and subscription sales soften. The new business models potentially represent millions of dollars in revenue, and include advertising and content networks; paid content strategies; video advertising; mobile phone advertising; new print products; search advertising; self-service advertising; targeted new print and digital products; and many more.
Among the distinguished speakers are:
Mike Smith, Director of the Media Management Center of Northwestern University
Jeff Jarvis, Director of the Interactive Journalism Program and the New Business Models for News project for City University of New York
Gerould Kern, Editor of the Chicago Tribune
Tony Hunter, Publisher of the Chicago Tribune
Lisa Desisto, General Manager, Boston.com
Mitch Golub, President of Cars.com
Daniel Jauernig, CEO of Classified Ventures
Benjamin Chen, CEO of Mochila
James Schein, Professor of entrepreneurship at Northwestern University's Kellogg School of Business' Levy Center of Entrepreneurship
Gordon Crovitz, Co-Founder, Journalism Online
Philip Balboni, CEO of GlobalPost.com
Joshua Benton, Harvard University's Nieman Journalism Lab
Mike Silver, Executive Director of the Newspaper Consortium, a partnership with Yahoo!
Brad Moore, VP for Targeted Media, Tribune Company
Andy Ellenthal, CEO, QuadrantOne advertising network
Shawn Riegsecker, CEO, Centro advertising network
John Yemma, Editor, Christian Science Monitor
Christopher Mayer, Publisher, Boston Globe
Gordon McLeod, President, Wall Street Journal Digital Network
Alan Murray, Deputy Managing Editor and Executive Editor, online, The Wall Street Journal
Vikram Sharma, CEO of ShopLocal.com
Mark Kim, Director of Business Development and Partnerships, ShopLocal.com
James O'Shea, former Los Angeles Times Editor and Founder of the Chicago News Cooperative
Ric Camacho, Vice President, Digital Syndication, Reuters News Agency
Hyde Post, Vice President of Media Strategy, News Distribution Network
Alisa Bowen, Senior VP, Head of Consumer Publishing, Thomson Reuters
Richard Tofel, General Manager, ProPublica.com
....and many more.
Sunday, 14 March
Chicago
19:00 Opening night cocktail, Hotel Lobby
20:00 Dinner 95th - Restaurant on the 95th Floor of the John Hancock Building
Monday, 15 March
Chicago
08:00 - 12:00
Classified Ventures, www.classifiedventures.com
Combined,
Classified Ventures' websites, including Apartments.com, Cars.com,
HomeGain.com and HomeFinder.com, attract an average of 16.4 million
consumers per month. With 150+ local online media partners nationwide,
the brands deliver automotive, rental and real estate listings and
targeted content to consumers, while allowing advertisers to reach a
poised audience across town or across the United States. Classified
Ventures is owned by five of America's top media companies.
Speakers:
Mitch Golub, President, Cars.com, one of the USA's largest new and used car classifieds sites
Bill Swislow, CIO and SVP for Products, Cars.com
Alex Vetter, SVP for Sales, Cars.com
Kevin Doyle, General Manager and Senior Vice President, Apartments.com
Vikram Sharma, CEO of ShopLocal.com
12:30 - 13:45
Lunch
14:00 - 17:00
Chicago Tribune,
The Tribune is expected to
emerge from bankruptcy this quarter or next, having developed a new
business strategy that has allowed the company to cut expenses, but
expand important areas of journalistic content, including investigative
reporting and breaking news and sports content. The Tribune also has
aggressively added new targeted print and digital products to their
portfolio, including www.ChicagoNow.com, a blog network for the city, featuring hundreds of local bloggers. Speakers:
Tony Hunter, Publisher, Chicago Tribune
Gerould Kern, Editor, Chicago Tribune
Brad Moore, Vice President for Targeted Media at the Tribune Company; including the hip, free daily newspaper, RedEye.
Bill Adee, Director of Digital, Chicago Tribune
Tuesday, 16 March
Chicago
Program curriculum
Allen Center
http://www.kellogg.northwestern.edu/execed/allen_center/
08:00 - 09:00
Welcome and introduction by Mike Smith, Director, Media Management Center at Northwestern University
What do media leaders do when it is impossible to produce a 5-7 year plan? What are the growth companies investing in? How should journalists be thinking about audience? Recent and ongoing research by the Media Management Center has addressed these questions from media leaders. This introductory session shows the results of that research and shares information on what new projects the Center is working on.
09:00 - 12:00
Media Intrapreneurship: How old companies learn new tricks, by James Schein of the Kellogg School's Levy Center for Entrepreneurship
In this class, Schein shows how established businesses approach entrepreneurship (or innovate from within). Will include a 15-minute break.
Schein's bio:
http://www.kellogg.northwestern.edu/faculty/directory/shein_james_b.aspx
12:00 - 13:30
Lunch with media student leaders and media faculty (no formal program)
13:30 - 15:30
The Digital Advertising Network Opportunity
Digital advertising networks are an enormous opportunity for newspaper companies. Four major American digital advertising networks will describe their unique approaches to networks. A spirited Q&A and panel discussion will follow, to shed light on how these networks work in the online advertising ecosystem.
Moderated by Northwestern Associate Professor Rich Gordon
Northwestern's ad network research:
http://mediamanagementcenter.org/research/adnetworks.pdf Panelists include:
Led by CEO Andy Ellenthal, quadrantONE is a joint venture online ad network of four major media companies that focuses on premium advertisers seeking high-quality audiences and national reach. Backed by Tribune Company, Gannett Co. Inc., Hearst Corporation and The New York Times Company, quadrantONE offers exclusive ad inventory on premium news and information sites across the nation's top local markets.
Yahoo Newspaper Consortium, Executive Director, Mike Silver
The Newspaper Consortium is comprised of 30 companies that represent more than 800 local papers-a number that's equivalent to one third of all U.S. daily circulation and almost half of all U.S. Sunday circulation. Working together in partnership with leading interactive companies like Yahoo!, Consortium members are able to offer local advertisers new opportunities to reach online audiences and offer online readers new ways to access local information. Behavioural targeting through the newspaper websites and enabled by Yahoo technology promises to make newspaper companies millions of dollars richer through a revenue share agreement. Behaviourally targeted ads fetch more than ten times the cost-per-thousand rates than regular online advertisements.
VP of Advertising Operations Kevin Dean of Centro will speak about how the ad network services hundreds of national, regional and local ad agencies, offering thousands of local online publishers opportunities for ad placements. Centro offers the technologies to streamline the process of planning, negotiating, trafficking and billing, and automates media buying and execution in order to place campaigns in the most contextually relevant media websites. Centro partners with both agencies and media companies.
Jim Larrison, Chief Revenue Officer for Cox Enterprises, which owns Adify, the vertical advertising network. Adify enables newspaper companies to build their own successful vertical advertising networks. Adify's Network Builder software allows for targeted ad serving. Adify's technology powers dozens of vertical advertising networks, and assists multiple newspaper companies with their online advertising network development.
15:30 - 16:30
James O'Shea, former editor of the Los Angeles Times and former managing editor of the Chicago Tribune, has formed a new not-for-profit company to create public service journalism, called the Chicago News Cooperative. The CNC partners with the New York Times, as well as a local public TV station and others to pay for the development of Chicago public service news, which is distributed on the New York Times' Chicago pages twice per week, and on their website, www.chicagonewscoop.org. The cooperative is dedicated to building communities around local news topics, to involve citizens in the development of news important to them.
16:30
Adjourn and depart for airport
Wednesday, 17 March
Boston
07:30
Bus from Hotel
08:00 - 10:00
Boston.com
Host: Lisa Desisto, Chief Advertising Officer and General Manager, Boston.com
Ms. Desisto will address the topic: "Emerging Business Models for
Newspaper Publishers".
The Boston Globe's new Publisher, Christopher Mayer, will address the group.
The Boston Globe's head of circulation will discuss their radical strategy of raising newspaper rates for readers, and thereby generating significant circulation revenue. A status report a year later. Executives from Boston.com, part of the New York Times group, will talk about innovative business models in their successful online unit, including targeted advertising, video advertising, ad networks and more.
10:30 - 12:30
Christian Science Monitor
The Christian Science Monitor is an award-winning, international newspaper published daily online, Monday through Friday, and weekly in print. In April 2009, CSM ceased printing daily, but remained steadfast about printing a weekly edition, citing losses of $18.9 million per year versus $12.5 million in annual revenue. Editor John Yemma will explain the reasoning behind the channel switch, and CSM's 5-year goal to significantly increase their online readership and revenues.
13:00 - 15:00
GlobalPost.com
Host: Phil Balboni, CEO, GlobalPost.com
Catered lunch at Global Post's Waterfront Room
Balboni will talk about the three core business models of the year-old startup GlobalPost.com: Membership, advertising and syndication. GlobalPost has hundreds of foreign correspondents reporting around the world, and offers these reports to affiliate members. The content is monetized online through advertising, and through online membership fees.
GlobalPost has hundreds of foreign correspondents reporting around the world, and offers these reports to affiliate members. The content is monetized online through advertising, and through online membership fees.
GlobalPost Editor Charles Sennott will talk about the 70 journalists in 50
countries, who file a minimum of one story per week. www.globalpost.com
15:30 - 17:30
Harvard University's Nieman Journalism Lab
Nieman Lab's Joshua Benton will talk about how Twitter, Facebook, and other social media networks are changing how news is discovered, consumed, and shared, and how these platforms can benefit media companies' bottom line.
17:30
Adjourn and depart for airport Thursday, 18 March
New York
09:00 - 13:30
Jeff Jarvis, longtime newspaper Executive and now Buzzmachine blog publishers and CUNY professor, will discuss his new project called New Business Models for News Project, funded by the Knight, McCormick, MacArthur foundations and the Aspen Insitute, explores several kinds of business models:
Hyperlocal
- Revenue
- News Ecosystem
- New news organisation
- Not for profit
- Paid content
http://newsinnovation.com - Gordon Crovitz, Co-Founder, Journalism Online, and former publisher, Wall Street Journal, will speak about Journalism Online, with more than 1,300 publisher members worldwide after only one year in business. Journalism Online provides technology and guidance on how publishers can charge for content online, seamlessly and effectively, www.journalismonline.com
- Richard Tofel, general manager of ProPublica.com, the philanthropy-funded not-for-profit newsroom, is living proof that new revenue models to fund investigative journalism work, www.propublica.com
- Benjamin Chen, Chairman and CEO, Mochila, an online marketplace for syndicated content from hundreds of the world's newspapers and content providers. The marketplace includes millions of high-quality, rights-managed articles, photos and videos covering everything from breaking domestic and international news to feature stories on topics such as health, business, entertainment, fashion, sports, science, tech and more. Models include the "iTunes" a la carte subscription model plus targeted advertising opportunities enabled by sponsored sections, widgets and micro-sites.
Catered lunch at CUNY
14:00 - 15:00
Wall Street Journal, Dow Jones
Participants
will hear about WSJ's subscription strategy, and its success with
print-Web sales packages. Participants will learn about sales
techniques, sponsorship sales and organisational strategies that have
made Dow Jones one of the leaders in digital revenue making.
Speakers and topics include:
Gordon McLeod, President, Wall Street Journal Digital Network
WSJ product development managers will speak about new revenue streams such as widgets, RSS, mobile
Alan Murray,
deputy managing editor and executive editor, online, The Wall Street
Journal: The paid content model, and advances in targeted business
content
Afternoon Free
Kindly RVSP to Martha Stone by Tuesday if you would like to join the closing diner Thursday, for reservations purposes.
Friday, 19 March
07:30
Leave the hotel
08:00 - 10:45
Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest international multimedia news provider touching billions of people every day. Reuters provides unbiased business, financial, national and international news to professionals via Thomson Reuters desktops, the world's media organizations, as well as directly to affluent business professionals through Reuters.com and other digital platforms.
08:00 - 08:45
Ric Camacho, Vice President, Digital Syndication, Reuters News Agency. Topic: Identifying new distribution models and opportunities in the online space
08:45 - 09:30
Hyde Post - Vice President Media Strategy, News Distribution Network, Inc. (NDN, a Reuters strategic partner, delivers licensed, professional video from a network of trusted brands to online publishers. The initiative is designed to significantly reduce publisher costs, while increasing their reach, revenue and flexibility in online video publishing).
Topic: A look at online video consumption behavior and why advertisers prefer video from established news, sports and entertainment brands.
09:30 - 10:30, including coffee break
Alisa Bowen, Senior Vice President, head of consumer publishing, Thomson Reuters. Topic: Reuters Media mobile strategy
10:30 - 11:30
Study Tour wrap up discussion - adjourn study tour
Practical Information
Study Tour language:
English
Registration fee:
Standard price: 7500 Euros
Company/individual members: 6500 Euros
Fee includes:
2 nights'hotel accommodation in Chicago
Hotel Intercontinental, 505 Michigan Avenue, IL60611 Chicago
1 nights' hotel accommodation in Boston
Hotel Fairmont Copley Plaza, 138 St James Avenue, MA 02116 Boston
2 nights' hotel accommodation in New York
W Times Square Hotel, 1567 Broadway, NY 10036 New York
2 internal flights, Chicago-Boston, Boston-New York
Programming, materials, accommodations, meal and ground transport during the tour. |
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