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Future of Newspapers
Innovation OpportunitiesJune 2014 – Turin, Italy
Amy Webb: 3 Things
1. Digital Media Futurist. Founder + CEO of Webbmedia Group, a digital strategy agency.
3. Trends for the World Association of Newspapers and News Publishers. Three opportunities for innovation within your organizations.
2. Online News Association. Former board of directors, conference organizer.
Story
Your Future
In three acts
Can you build a better thermostat?
1
Act One
In 2005, New Media Companies Barely Registered
Don’t worry. Google needs journalism more than consumers need Google.
But they were growing.....
courtesy of eTeknix
€2.34 billion
The nest: 3 things
1. It’s very pretty.
2. Control the temperature.
3. Learns your behavior.
Consumers Excited!
Climate Activists Excited!
90 Countries
How does this inform your work as an editor or publisher?
Google Calendar
Google Now
HUNGRY?
Google is the invisible information layer we rely on more each day.
Soon, our society will not be able to function without Google.
Must a product fail in order to fulfill its destiny?
How can newspapers fulfill their destinies in the next 10 years?
(Segue for Act 2...)
Why This Matters
Your Future = Like Google, news organizations must also become invisible and visible information layers that we cannot live without. What is your “Nest?”
Newspapers become technology companies.
2
Act Two
Think about how newscontent is distributed
The most successful media companies don’t produce any news
Acquisitions, Partnerships = opportunity
webbmediagroup.com
Cue ($50 million)
virtual personal assistant
PrimeSense ($345 million) semiconductors
Topsy ($200 million)
analytics
Waze ($966 million) crowdsourced
GPS navigation
Flutter ($40 million)
gesture recognition tech
Boston Dynamics
robotics
Nest Labs Inc ($3.2 billion)
connected home
DeepMind Technologies ($650 million)
artificial intelligence
Wavii ($30 million)
natural language processing
Nokia ($7.2 billion)
mobile phone unit
Yammer ($1.2 billion)
social networking
Skype ($8.5 billion)
telecommunications
Xobni ($40 million)
CRM
Qwiki ($50 million)
automated video production
Tumblr ($1.1 billion)
blogging
Summly ($30 million)
news summarization
Oculus VR ($2 billion)
virtual reality tech
Instagram ($1 billion)
photo sharing
WhatsApp ($19 billion)
mobile instant messaging
Bluefin Labs ($80 million)
social analytics
TweetDeck ($40 million)desktop client
Goodreads social network
IMDB movie database
Patch.com majority stake transferred
to investment company Hale Global
Who Owns What 10.0 The New Media Landscape in 2014
Newsweek sold to IBT Media
Boston Globe sold at a loss
Storyfulnews aggregation
Dow Jonesnews corporation
Myspacesold at a loss
Size of bubble corresponds to the number of overall acquisitions and partnerships. Examples are notable deals.
you can downloadthe full chart after
Historic Evolution of a media company
highlights.....
Platform First Digital First Tech First
Pre-Internet Era Early Internet Era Future Internet Era
Single Platform (newspaper, TV)
Traditional Platform (newspaper, TV) + Web, Social and Mobile
Media Tech Stack
Focuses on legacy media content Focuses on multimedia content
Focuses on building/ acquiring the tech that powers multimedia content
Relies on traditional advertising, word of mouthand social obligations to subscribe/ watch/ listen
Reacts to changes in search algorithms
Anticipates and plans for changes to search algorithms
Relies on traditional advertising, word of mouthand social obligations to subscribe/ watch/ listen
Reacts to changes in social media platforms
Anticipates and course-corrects for major changes in social media partners
Optimizes traditional content creation workflows
Optimizes digital content creation workflows
Optimizes all content distribution workflows
Develops content for the legacy media channel
Develops content for the device
Develops content for the consumer experience
Customizes content via location Customizes content via responsive design
Personalizes content for the individual consumer
Anticipates competition from other media companies
Anticipates competition from traditional and new media companies
Anticipates competition from external digital networks, algorithms, content marketing, search engine marketing
Monetizes the platform it offers
Monetizes the content it is creating and its platform offerings
Monetizes the technology, processes, audience and data it is creating
webbmediagroup.com
The Evolution of a Media Company
For each category above, plot your media company using this spectrum. What does this tell you about your organization’s future?
Platform First Digital First Tech First
Pre-Internet Era Early Internet Era Future Internet Era
Single Platform (newspaper, TV)Traditional Platform (newspaper, TV) + Web, Social and Mobile
Media Tech Stack
Focused on legacy media content Focused on multimedia contentFocused on building/ acquiring the tech that powers multimedia content
Optimizes traditional news workflows
Optimizes digital content creation workflows
Optimizes all content distribution workflows
Develops content for the legacy media channel
Develops content for the deviceDevelops content for the consumer experience
Customizes content via locationCustomizes content via responsive design
Personalizes content for the individual consumer
Monetizes the platform it offersMonetizes the content it is creating and its platform offerings
Monetizes the technology, processes, audience and data it is creating
Case Study: VOX
Tech Stack
Definition: Layers of components used to create an application or provide a service.
Tech Stack
Tech Stack
Tech Stack
Newsroom Tech Stack
Vox’s Media Stack
•Platform for digital-native authoring and distribution.
•Native format for real-time news coverage.
•Liveblogging platform that uses Amazon’s Cloudfront CDN in S3 requests.
Which helped Vox create a new kind of digital storytelling template
Cards
Google Now Cards
Glass Environment
Response to smaller screen size and desire for sharable nuggets
Which is a bad design environment for longer NEWS stories
But! Cards are a good design template for NEWS explainers
Platform First Digital First Tech First
Pre-Internet Era Early Internet Era Future Internet Era
Single Platform (newspaper, TV)Traditional Platform (newspaper, TV) + Web, Social and Mobile
Media Tech Stack
Focused on legacy media content Focused on multimedia contentFocused on building/ acquiring the tech that powers multimedia content
Optimizes traditional news workflows
Optimizes digital content creation workflows
Optimizes all content distribution workflows
Develops content for the legacy media channel
Develops content for the deviceDevelops content for the consumer experience
Customizes content via locationCustomizes content via responsive design
Personalizes content for the individual consumer
Monetizes the platform it offersMonetizes the content it is creating and its platform offerings
Monetizes the technology, processes, audience and data it is creating
digital first ≠ tech first
“digital first” describes a workflow and an integration that should be a part of every journalism operation.
Current News Story Dimensions
Digital LEGACY
mobile, web, social, app, database, etc.
newspaper, TV broadcast, radio broadcast
Lon
gSh
ort
great UI design ≠ a great experience
Consumer
Future Story Dimensions
App or HTML5?
Screen size?
Home location?
New location?
Work location?
Commuting?
At the gym?
Eating dinner?
Lean forward?
Lean back?
Driving?
Jogging?
Researching?
Looking for social media posts?
Trending for her?
Will she engage?
New content recommendation?
Why This Matters
Your Future = Your news organization must transition into tech a organization that also produces exceptional content. You must build or acquire, and develop true partnerships.
News organizations must anchorour future tech communities.
3
Act Three
Confluence of...
•Research universities
•R&D labs (government, commercial)
•Highly educated workforce
•Wealth (venture capital, angels)
•Highly engaged businesses who want to innovate, collaborate and test new ideas
Tech & Innovation Hubs Worldwide
They just lack a community anchor
.....and a Niche
London new global hub
for cyber security
• Report on stories
• Adapt tech for storytelling
Near-Term Guardian Benefits...
Long-Term Guardian Benefits...
• Smarter, tech savvy workforce
• R&D for news products
• Extended collaborations as tech diaspora spreads
London new global hub
for bitcoin
• Report on stories
• Opportunity to own this hot topic
Near-Term FT Benefits...
Long-Term Guardian Benefits...
•New FT profit center R&D
•Experiment with new payment systems for FT news products
•Extended collaborations as tech diaspora spreads
Why This Matters
Your Future = The future of news innovation hinges on creative partnerships. Newspapers should be the tech anchors in their communities, as well as a trusted source of news.
EpilogueHow to future-proof
your newsroom
Does your project pass our F.U.T.U.R.E. Test?
Will your new project, acquisition or digital strategy endure as technology and consumer behavior evolve? Is it future-proofed and able to withstand changes both inside your organization and in the marketplace? This F.U.T.U.R.E. Test should be used to assess your project’s strengths and weaknesses, regardless of its size or scope.
Foundation Unique Track Urgent Recalibrate Extensible
Foundation. Do you have support from key stakeholders within your organization? Can your project continue to function and evolve, even as key stakeholders transition away from your organization? Do you have a reasonable amount of time, money and desire to shape, launch and maintain your project? Have you set initial benchmarks to measure levels of support? Are your short-term and long-term timelines realistic, given your available resources?
Foundation Unique Track Urgent Recalibrate Extensible
Unique. Is your unique value proposition clear to your customer, whether that’s another business or an individual user? Is your IP difficult to replicate? As competitors emerge, how will you help others continue to understand what differentiates you?
Track. Do you have complete access to the data your project is creating? Given your organization’s current or planned structure, are you able to set meaningful benchmarks and to measure outcomes? Can you use that data for reliable analysis for customer retention and acquisition, as you scale and for your long-term development cycle?
Urgent. Does your project communicate a sense of urgency, both to your staff and your intended audience? Will there be continued demand for your project in the marketplace? Can you create demand within your customers? Will customers see your project as indispensable and invaluable, even as the marketplace evolves and new competitors emerge?
Recalibrate. Can your project evolve along with its intended customer segments as they upgrade their personal/ corporate technology? Do you have a realistic budget to continue along a reasonable development cycle? Do you and your staff have the time to comprehensively evaluate the project every two or three months, in order to make adjustments? Do you and your staff have the desire to continue working on the project after it has launched?
Extensible. Does your project rely on third-party software, tools, devices, content or code that you and your staff cannot control? Will you be able to recalibrate your project internally, or must you rely on another company to implement necessary changes? Can your project still operate independent of device, software or network upgrades? As consumer tastes and preferences change, can you adapt your project without pivoting from your original idea?
Thanks!
webbmediagroup.com [email protected] @webbmediagroup267-342-4300