Entries tagged with “web content” from Tools of Change for Publishing
The Economic Realities of Digital-Only Newspapers
Peter Brantley
February 2, 2009
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Alan Mutter has an incisive analysis explaining why an all-digital strategy would be unacceptably painful for the majority of established newspapers:
Because newspapers on average derive approximately 90% of their sales from print advertising, the only ink-on-paper newspapers that can afford to attempt digital-only publishing are the ones that are irreversibly losing money. Moving to digital publishing is the last, best hope to salvage at least some value from their waning franchises.
But those web-only franchises would produce far less cash than their print predecessors, reducing the value of those businesses by several magnitudes. How much less? A conventional newspaper moving to online-only publishing might produce at best 10% of the cash generated by its print-plus-online predecessor.
This would be catastrophic for any of the newspaper companies that operate today on the premise of selling both print and interactive advertising. This is especially true for the many publishers that borrowed billions in recent years to finance acquisitions that for the most part have not produced sufficient profits to service the loans.
New York Times Settles Linking Suit
Peter Brantley
January 27, 2009
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In what many of us thought was a slightly bizarre case, the New York Times Co. has settled with GateHouse Media in a suit attempting to cease the automated aggregation of Gatehouse content on Boston.com's affiliated properties (Boston.com is owned by the Times Co.). It is not clear why the settlement was reached, since precedence was on the side of the Times' operation.
Mathew Ingram examines the settlement at the Nieman Journalism Lab:
Because while the settlement is not a legally-binding precedent -- the one piece of what might be called good news -- it still involves the New York Times voluntarily refraining from what many would argue is perfectly defensible behaviour. As Joshua Benton notes in his post at the Nieman Journalism Lab, that could well embolden other publications to launch similar cases, on the assumption that if the NYT caved then someone else might too. [Links included in original post.]
"None of this is good or bad; it just is"
Mac Slocum
January 22, 2009
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Lev Grossman takes a pragmatic look at the changing state of authors, readers, and the definition of publishing:
Self-publishing has gone from being the last resort of the desperate and talentless to something more like out-of-town tryouts for theater or the farm system in baseball. It's the last ripple of the Web 2.0 vibe finally washing up on publishing's remote shores. After YouTube and Wikipedia, the idea of user-generated content just isn't that freaky anymore.
And there's actual demand for this stuff. In theory, publishers are gatekeepers: they filter literature so that only the best writing gets into print. But [Lisa] Genova and [Brunonia] Barry and [Daniel] Suarez got filtered out, initially, which suggests that there are cultural sectors that conventional publishing isn't serving. We can read in the rise of self-publishing not only a technological revolution but also a quiet cultural one--an audience rising up to claim its right to act as a tastemaker too.
"Amazon Tax" Moves Forward in New York
Mac Slocum
January 14, 2009
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A judge has dismissed lawsuits from Amazon and Overstock.com challenging New York's "Amazon tax," which was enacted last year. From the Associated Press:
The law applies to companies that don't have offices in New York, but have at least one person in the state who works as an online agent -- someone who links to a Web site and receives commissions for related sales.
In this case, "agent" is synonymous with "affiliate." Amazon and other online retailers share a cut of revenue generated by affiliate referrals. If further appeals go against Amazon and, as expected, other states jump on the sales tax bandwagon, affiliate programs of all sorts could take a major hit.
The AP notes that the law applies to "companies that have $10,000 or more in New York sales." There's some confusion around this $10,000 figure -- does it apply to companies that run affiliate programs (e.g. Amazon) and generate $10,000 or more in New York-based sales, or does it refer to affiliates who earn $10,000 through revenue share agreements? According to Law.com, the company that sells the products is held to the $10,000 standard. As such, a company could not skirt the law by cutting off individual New York-based affiliates before they reach $10,000 in referral sales. To avoid collecting New York sales tax altogether, companies would have to limit the combined income from all New York affiliates to less than $10,000.
Google Doesn't Have Answers for Newspapers
Peter Brantley
January 8, 2009
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Fortune Magazine has an interesting interview with Eric Schmidt about Google's relationship with newspapers:
Maybe their time [newspapers'] has just come and gone?
No. They don't have a problem of demand for their product, the news. People love the news. They love reading, discussing it, adding to it, annotating it. The Internet has made the news more accessible. There's a problem with advertising, classifieds and the cost itself of a newspaper: physical printing, delivery and so on. And so the business model gets squeezed.
So what else can Google do?
We have a mechanism that enhances online subscriptions, but part of the reason it doesn't take off is that the culture of the Internet is that information wants to be free. We've tried to get newspapers to have more tightly integrated products with ours. We'd like to help them better monetize their customer base. We have tools that make that easier. I wish I had a brilliant idea, but I don't. These little things help, but they don't fundamentally solve the problem.
Newspapers Pursued New Tech with Wrong Intentions
Mac Slocum
January 6, 2009
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In a column at Slate, Jack Schafer says newspapers' overcommitment to form and content lock-in led to the industry missing Web opportunities:
From the beginning, newspapers sought to invent the Web in their own image by repurposing the copy, values, and temperament found in their ink-and-paper editions. Despite being early arrivals, despite having spent millions on manpower and hardware, despite all the animations, links, videos, databases, and other software tricks found on their sites, every newspaper Web site is instantly identifiable as a newspaper Web site. By succeeding, they failed to invent the Web.
The Realities of Big Web Traffic and Advertising
Mac Slocum
December 18, 2008
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Major news sites that rely on advertising as their primary revenue stream need to log hundreds of millions of page views per month to attract significant attention from advertisers, according to a new report from Lauren Rich Fine, research director of ContentNext.
From Advertising Age:
"Based on our research, the conversation [with advertisers] gets interesting at 200 million page views plus a month, but much more so around 800 million," Ms. Fine writes ...
... The report also looks at whether the [New York] Times could ever succeed as a web-only product, and concludes that it could -- once NYT.com starts generating 1.3 billion page views a month.
(Note: Advertising Age cites ComScore Media Metrix figures that put the Times' traffic at 173 million page views in October, but the Times communications department says this figure is very low).
Traffic estimates in the hundreds of millions and billions are a shock to the system, but they're nothing new. Jeremy Liew analyzed the online media industry in early 2007 (a time when Web advertising was still enjoying double-digit growth) and concluded:
At large scale, without a great deal of targeting possible, a startup's "run of site" or "run of network" advertising might be able to get to the $1 RPM range (Revenue per thousand impressions, including CPM, CPC, and CPA models). To get to $50m in revenue you would need 50 billion pageviews in a year, or just over 4 billion per month.
This type of analysis -- which is certainly on target -- is why it's important for publishers to acknowledge the reality of Web advertising by addressing two deeper questions:
1. Can I reach sustainability faster by aggregating advertising across sites or building a smaller organization? -- Limited choice shoehorns audiences into large groups, but the Web disrupts channel lock-in by allowing individual consumers to find material on their own terms. Big organizations are in trouble because the transition from limited channels to distributed channels means audiences are smaller (ie: 1 million vs. 10 million, 100,000 vs. 1 million, etc). There's still significant value in reaching 1 million people, or even 100,000 people, but smaller audiences attract less advertising revenue. So the challenge is to either scale businesses down so audience size, advertising dollars and sustainability even out, or, aggregate advertising revenue from a large number of targeted sites. Both options are arduous, but both are also realistic. Finding and maintaining billions of page views per month is not (the New York Times being the exception here).
2. Can I diversify beyond advertising? -- Ad-only Web models are inherently flimsy because the thing advertisers want is the thing most Web sites can't attract: huge crowds. A lot of lip service has been paid to the Web's targeting argument -- and in Google's case, that's proven effective and lucrative -- but the analysis from Fine and Liew shows that advertisers still can't shake that "big crowd" mentality. So if that's the reality, advertising needs to become one revenue stream among others.
Folks like Mike Masnick, Clay Shirky, Kevin Kelly and Chris Anderson have addressed these "other" revenue steams at length (all are recommended reading), but the abridged analysis of their work generally comes down to one word: scarcity. Digital content is not scarce. It's easy to find, distribute and copy (even if publishers lock it down). Because of this, audiences don't often equate "digital content" with "pay." Publishers can fight consumer expectation by creating artificial scarcity (DRM, pay walls for general content), but that same energy is better directed toward products that are naturally scarce: things that solve a problem (recommendations, education), offer an experience (readings, concerts, trips, conferences), grant access (consulting, POD for out of print titles), save time (curated information), and offer value on an individual basis (customization). All of these are outside publishers' comfort zones and none are guaranteed to catch on, but models that work in conjunction with the digital world offer a better shot at sustainability than those built on artificial limits and unrealistic audience sizes.
PC Magazine Goes Web Only
Peter Brantley
November 19, 2008
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PC Magazine's January 2009 edition will mark the end of its print run. A reduced staff will focus on the PCMag Digital Network. From paidContent.org:
The magazine, which was started in 1982, has a storied history, but its print base eroded over the years as its core brand of journalism -- news you can use while shopping for computers -- moved online. It cut back from bi-weekly to monthly earlier this year. PCMag, which literally invented the idea of comparative hardware and software reviews, at one time during the '80s averaged about 400 pages an issue, with some issues breaking the 500- and even the 600-page marks, according to this Wikipedia history.
John Gruber of Daring Fireball says this is likely an ever more frequent transition as the recession deepens. Both U.S. News & World Report and the Christian Science Monitor have announced plans in recent weeks to end/reduce print editions.
Edit - 11/20/08 - John Gruber's name was misspelled in the original post.
Why Blogging and Social Media Shouldn't be Ignored
Mac Slocum
November 19, 2008
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Consistent blogging and Web-based interaction often fall by the wayside when other projects demand attention, but venture capitalist Fred Wilson makes a compelling argument for keeping connectivity on the front burner. He charts the trajectory of a recent post focusing on Boxee, one of his investment companies: it went from a blog, to Techmeme, and then looped back into tangible interest for the company.
I know that one person out of the 100 I invited this morning will be incredibly impactful for boxee. It could be five people, it could be ten. Who knows?
But in the world of social media, word of mouth and word of link marketing, it is connectors and influencers like all of you that make the difference.
And that's one of the main reasons I keep writing, commenting, discussing, and participating in blogs, tumblr, twitter, disqus, and the social media world at large.
Webcast Video: Why Publishers Should Care About SEO
Mac Slocum
November 6, 2008
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Below you'll find the full recording from last month's TOC Webcast, "Why Publishers Should Care About SEO," with SEO expert Jamie Low.
Read more…
U.S. News Shifts Focus to Digital
Mac Slocum
November 5, 2008
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U.S. News & World Report is pulling the plug on its regular print edition. From the Washington Post:
The financially struggling magazine, which cut back to biweekly publication earlier this year, now plans to reinvent itself on the Web. While it will publish one print edition each month, according to staffers briefed on the decision, these will be entirely devoted to consumer guides -- such as its annual rankings of colleges and hospitals -- and contain no other news.
Last week, the Christian Science Monitor announced that its daily print edition will be replaced by Web coverage in April 2009.
What Cookbook Publishers Can Learn from the Music Industry
Mac Slocum
November 4, 2008
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The similarities between the music and book industries tend to diverge when you examine the smallest possible component of each format: unlike songs, book chapters aren't usually self contained.
But recipes are a different matter. A recent story in the New York Times looks at the upcoming Web site, Cookstr, which aims to catalog recipes from top chefs:
Cookstr, which will be supported by advertising revenues, will aggregate recipes from published cookbooks. All of the authors will have their own pages, with biographies, links to recipes and books, and in the case of restaurant chefs, links to their locations on Google maps.
Cookstr isn't blazing new trails here: All Recipes, Epicurious, Big Oven, FoodNetwork.com and other Web outlets have built their sites around aggregation of individual recipes. But there's still a silo-based mentality in play because recipes are only free to roam within the boundaries of each site. This is equivalent to a record company only making songs available through its own proprietary service. As we've seen with the success of iTunes, YouTube and most recently through Hulu, users flock to platforms that replace traditional boundaries with massive catalogues of material. Shoehorning content and users into a specific channel rarely works on the Web (iTunes is the exception), so the record labels eventually moved toward wide distribution across multiple platforms.
There are key differences between songs and recipes -- paid downloads vs. free text content most notable among them -- but a variation on the song model might work for recipes: sell advertising against publisher-owned recipe pages; allow standalone recipes to disperse with attached branding and pull-back opportunities; and use increased attention from wider distribution to deliver related products with built-in scarcity, such as traditional cookbooks, custom books, curated collections, cooking classes and events.
New Project Examines Close Reading and Web Collaboration
Mac Slocum
October 31, 2008
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On Nov. 10, Doris Lessing's The Golden Notebook will be read and discussed by seven readers in a new experiment that explores "close reading" and the mechanisms of online conversation.
The project is the brainchild of Bob Stein, founder of Institute for the Future of the Book. Stein outlined the project's goals in an email announcement:
Fundamentally this is an experiment in how the web might be used as a space for collaborative close-reading. We don't yet understand how to model a complex conversation in the web's two-dimensional environment and we're hoping this experiment will help us learn what's necessary to make this sort of collaboration work as well as possible.
The seven readers will discuss the book through margin notes and a group blog, and a public forum will be available for others to join the conversation. Further details are available through the project site.
Analytics: Are Streams the New Hits?
Mac Slocum
October 30, 2008
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Web analytics folks have been trying for years to remove the term "hits" from the analytics lexicon because it's an inherently flaky measurement (one Web page could theoretically yield hundreds of hits). That same flakiness has unfortunately infiltrated another measurement tool: "streams," a key metric for online video.
An off-hand mention in a New York Times article reveals cracks in the "stream" definition:
Despite all the experimentation, it is still difficult to know exactly how many viewers are watching individual TV shows and movies online. Hulu ranks its most popular content, but unlike YouTube it doesn't show the view count for each video. Still, it is clear that millions of viewers are watching some shows online. The Season 3 premiere of "Heroes" in September was streamed 8.1 million times on Hulu and NBC.com, according to the network. (All online streams are not counted as equal, because on NBC.com each segment of an episode is counted as a stream, so a full episode could count as six streams. On Hulu, one episode equals one stream.) [Emphasis added.]
This is a problem. Most digital content models rely on advertising as a revenue stream, and ad rates are generally associated with key analytics (impressions, page views, unique users, streams, clicks, etc.). Redefining a common metric puts the entire industry in flux because advertisers rarely buy inventory on one site. Now they'll need to monitor both their active campaigns as well as variations in campaign metrics (ie -- is this a Hulu stream or an NBC stream?). The last thing digital content needs is more complexity.
Could a Young Newspaper Company Still Succeed?
Mac Slocum
October 27, 2008
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The Internet is usually fingered as the key disruptor for newspapers, but could change also come from leaner, smaller and younger print publications? James Erik Abels mulls this over at Forbes.com
The newspaper industry's cost structure, staffing and share price are based on an outdated business model that continues to define financial expectations. So the goal would be to slough off enough costs to let younger, more nimble newspaper businesses live without the artificial market pressure of year-over-year comparisons ...
... Certainly, newspapers are being battered by massive declines in advertising due to a bad economy. Yet that decline is merely accelerating an ongoing and devastating trend of the newspaper business being destroyed by the Internet. The financial expectations on a younger company--and the staffing and business costs it agrees to build into its organization--may be more manageable than they are for today's behemoths.
Sulzberger: "Be of the Internet, Not on the Internet"
Peter Brantley
October 23, 2008
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Arthur Sulzberger Jr. indicates he is willing to consider radical change to continue the New York Times' relevance in the digital age. From News.com:
Sulzberger would brand this not as a crisis, but rather as change that requires adaptation. "It's important for traditional companies to adopt strategies that enable us to be of the Internet, not on the Internet," he said. "There must be an institutional commitment to engage in reinvention, especially as the information revolution picks up steam."
That's why, he said, the Times has undergone some digital initiatives unusual for the print media business. It launched bookmarking and sharing service TimesPeople earlier this year. Soon, it will launch TimesExtra, which integrates acquisition Blogrunner onto the publication's home page to provide related links from across the Web. And it has also announced an API for developers to work with one of its most popular online features, the "Most Emailed" list.
An On-Demand Night at the Opera
Mac Slocum
October 15, 2008
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The Metropolitan Opera is letting its inner geek run free. Performances will soon be available as pay-per-stream feeds and subscription packages through The Met's Web site. From the New York Times:
For $3.99 or $4.99 per streamed opera, users will have a six-hour window in which to listen to or watch a production, once it has started. A monthly subscription for $14.99 brings unlimited streaming, while a yearly subscription costs $149.99.
On the surface this seems like a no-brainer: serve a passionate audience while expanding the boundaries of "experience." Major League Baseball uses a similar model with its online offerings, and it's done quite well.
Overestimating the Home Page
Mac Slocum
October 13, 2008
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Brett Crosby from Google Analytics says a home page is often mistaken as the most important part of a Web site. From TechRadar:
Where are your visitors landing, bouncing, and viewing? It's often assumed user experience begins on the homepage, and this misconception drives many an ecommerce site to waste hours of design work in the wrong place. Search engines dig deeper into ecommerce sites, bringing visitors to not just 'electronics', but also televisions, MP3 players or sat navs. Analytics data will tell you where your real 'homepages' reside, so you can focus your design work there.
Crosby's point applies to content-based sites as well. Visitors often enter through an individual story page or blog post, not the home page. This is why there's value in serving up related posts, embedded links and call-outs to other features and tools on story-level pages.
Publishers Rush Economic Crisis Books
Mac Slocum
October 10, 2008
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The Economist says book publishers are rushing to cash in on the economic turmoil bubbling up across world markets:
Like any good bank in the pre-crash days, some publishers are splashing out to secure talent. Penguin's American arm has been particularly eager, bagging four inky-fingered "stars" in the past month, reportedly at a cost of over $2m in advances.
The Economist notes that long publishing deadlines may prevent book publishers from capitalizing on the current flush of consumer interest (and worry), especially if the situation stabilizes. But traditional publishing's burden is Web publishing's gain: Beet.TV says The Wall Street Journal's impeccably timed Web redesign coincided with record traffic, and there's been a surge in interest for NBC, BBC and Reuters Web properties.
Getting Some Perspective on Cloud Computing
Mac Slocum
October 2, 2008
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Richard Stallman, creator of the GNU operating system and founder of the Free Software foundation, is no fan of cloud computing. From The Guardian:
"One reason you should not use web applications to do your computing is that you lose control," Stallman said. "It's just as bad as using a proprietary program. Do your own computing on your own computer with your copy of a freedom-respecting program."
Stallman's comments have inspired a host of counter arguments, including some nice publishing-centric analysis from Adam Hodgkin at Exact Editions:
This obsession with self-sufficiency and self-reliance, veers in the direction of paranoia. You don't necessarily lose control if you outsource a service, especially if there is competition between various service providers. I am sure that there are dangers with a model of cloud computing in which only one company provides a platform for published books (that company would at the moment look like being Google) but there is really no reason why only one company should host and serve print in the cloud.
Stallman took a provocative route to an important caveat: a wholesale transfer to the cloud could bring unwanted repercussions, such as lock in or -- if things go horribly awry -- lock out. But, to Hodgkin's point, publishers who carefully consider their needs may find significant value in cloud toolsets. Dismissing the cloud outright is just as egregious as blindly committing.
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