Tag: NYTimes

  • Paper Money

    There was a wonderful post in the Edelman Digital blog titled ‘The Last Newspaper‘. An insightful, well balanced and objective take on stories and content which perhaps captures the newspaper and web relationship best. From the post

    Stories are personal and transformational. Stories have definition and character. Stories are history personified.

    But content is cold, distant. Content is a commodity – a finite consumable of fleeting value. Content is artificial intelligence.

    Quite a paradox for brands that handle stories, when we consider that brands that tell the most interesting stories are loved by consumers. Taking it to a not-so-appealing premise was this question that was asked on Friendfeed recently, by Adam Lasnik.

    “I’m becoming increasingly concerned about the growing sensationalism in online “journalism.” Will the pursuit of pageviews ultimately trump integrity and thoughtfulness? I’m seriously worried.”

    When news becomes a commodity, publishers have to find a way to make theirs look more appealing than someone else’s. This is an unfortunate but inevitable by product.

    Publishers. On one side, we have Kindle 2, and its competitors (via @chupchap) work on an alternate platform for news delivery, and on the other, we have The Printed Blog rolling out a printed newspaper. Meanwhile, we  have Japanese newspapers collaborating for an iphone app. We also have an entity like NYT, which carries an op-ed article stating that perhaps non-profit, endowment based system is the way forward for newspapers, but is still the world’s best newspaper website,  taking radical steps to figure out ways to evolve, basis the understanding that newspapers are perhaps not the preferred means of delivery anymore – an API which offers developers access to 2.8 million articles from NYT, and another that gives developers data on the sharing and reading habits of Times People’s registered users. In essence, from a newspaper or even a news website, it transforms itself into a platform on which users and developers can use this mound of information for various purposes, and the possibility of linking it all together semantically. In context, an article from over 2 years back, still relevant.

    Closer to home, the top Indian newspapers are still grappling with the issue of how to handle themselves on the web. That’s not to say that some publications aren’t trying. HT, for example, has started blogs recently. Now you could turn around and say that’s basic, but that’s the state of Indian print media for you. Future revenue models are not even being thought of in most places. From their three main sources of revenue – subscription, stand sales and advertising, the first two are at best on plateaus and the last is suffering, largely due to recession. Recently, there was even a delegation of publication owners that approached the government for help!! Maybe they should be doing this instead – collaborative link journalism by Publish2. Vernacular papers are in better shape. But for English newspapers, i really don’t know what’s a better time to start thinking about future revenue.

    In that context, this post correctly states that micropayments for news (here’s a rebuttal too)  is not an option. Some revenue could be possible by making some parts of the content paid for, as the NYT is planning, but that still cannot be the main source of revenue. I am wondering how well a subscription model based on a different platform (mobile) could work. The news alerts on SMS are only the tip. While GPRS penetration is not exactly astounding, it is bound to grow especially in the segment that the English newspapers operate in, so perhaps it is a path to be explored. Locality based, contextual advertising could be fun.

    Newspapers, especially in India, would do well to heed a great piece of advice that I got from this post on brands, and the need for evolution. (via Gabriel Rossi)

    “Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow.” William Pollard

    Its not merely a change in delivery platform or an API that makes the move by NYT so radical. Its the mindset change, and until Indian newspapers realise that, no efforts will make long term sense. For now, they are smug in treating only other newspapers as competition, not even considering the possibility of an entire army of vertical-specialised content providers who now have digital media which gives them advantages like never before, to generate and distribute content.

    until next time, paper tigers…

    PS. This – Google buying a paper mill and converting it into a data centre, I thought, was very symbolic.

  • News..yes. Papers?

    Rupert Murdoch recently stated that the doomsayers predicting the end of the newspaper industry are off the mark. According to him, online readers also need news form a source that they can trust, and that’s what newspapers have always been doing. He agreed though, that newspapers would have to change from the ‘one size fits all’ approach to cater to readers’ demands. He mentioned his plans for WSJ, to offer three tiers of online content: free news, a subscriber-level service, and a third “premium service” of reader-customizable “high-end financial news and analysis.”

    The newspaper, or a very close electronic cousin, will always be around. It may not be thrown on your front doorstep the way it is today.

    On the whole, I tend to agree with him. However, I also feel that newspapers would be missing the point,  if they see this as just a change of platform. Its a mindset change, not just in terms of news delivery, but also in the way they approach business. After all, even the biggest names, like NYT , Gannett (publisher of USA Today) , are not in the pink of financial health.

    Before we get to that, a few varied ‘heritage media’ (print) trends. On one hand, we have publications like Christian Science Monitor and PC Magazine and many others switching to a primarily online only presence. On the other hand, the NYT opened up a couple of APIs, releases an AIR based news reader, the Guardian buys PaidContent, and offers full text RSS feeds, the Financial Times’ new site design resembles a blog, and some magazines are even rolling out Instant Messaging functionality. Over to India, Live Mint and Business Standard have recently launched podcasting (via WATBlog), India Today added Cosmopolitan to their existing list of digital properties and Business Standard has launched a branded Instant Messenger – BS Buddy (via Medianama). In essence, newspapers and magazines seem to be looking a bit more seriously at making the transformation from real to virtual.

    So this is a good question to ask – what’s the next step for news? To start with, they could take a good look at this list of 10 things that every Newspaper/Magazine site must do. This itself would be completely against a few things that they’d consider sacred – most notably, link sharing and responding to comments. Broadly, I’d imagine it to be a two pronged approach

    • figure out how to deliver their content on digital platforms, and that might even lead to changes in the kind of content they gather, and the way they gather it.
    • figure out a business model that can leverage the content they have – subscription/ advertising/ both.

    First the content aspect. A lot of publications have been experimenting with citizen journalism. They’d do well to check out tools like CoverItLive. Instead of randomly adding a ‘blog’ section to the website, make it work. Get enthusiastic journalists to blog. Get regular bloggers to do guest columns on specific topics of their interest. Promote them and the content they add to the site. This would help them being aggregators who also serve niche interest communities. What is equally important is to bring about a systemic approach to making journalists regard their story as just a start, and getting them to take ownership of making it a conversation. There are advantages in it for them – new story ideas as well as a better understanding of their readers. Yes, Twitter can help in the conversations too. These changes in news gathering techniques might very well change the quantity and quality of newsroom staff. This makes a great case study.

    The business aspect. I read a a very insightful article on how the entry of print publications into the digital medium will change the balance of power and wealth in the link economy. This process has already started. But before that, I think they have to see themselves as news sources, rather than just the newspaper on the web. This would influence how and where they position their ads, and would help them deliver better value to advertisers, as well as readers. While on this subject, I think online ad networks that include newspapers (with various editions and publications) along with independent blog/ blog networks that complement/add on to their content, might make sense. I remember NYT making a sort of conglomerate in association with 3 other newspapers, sometime back. There are other business models too. For example, there are community funded reporting services like Spot.us. (via RWW) Do check out this link for a very radical approach.

    Though readership of dailies (with very few exceptions) continue to drop, I don’t think newspapers are in their death throes in India. But should they wait for that? A good brand takes some time to build. There’s a reason why more people in India visit Rediff and Yahoo and even the web 18 properties than Indiatimes/ Times of India group properties. I’m hoping to see something like Instablogs join the big league soon. Brand loyalty in the real world need not translate into brand loyalty in the virtual world, especially when you’re dealing with a (by now) commodity called news. And as newspapers would know from their real experiences, once readers are used to a certain way of consuming content, it’s difficult for a competitor to sneak in. It would pay well to learn from mistakes – of those aborad who might have waited too long to transform. After all, what doesn’t kill you doesn’t necessarily have to make you stronger. And I’m not sure if newspapers would like to be part of the thin end of the long tail of news consumption, with pure play web entities occupying the head.

    until next time, save paper, save the environment 🙂

  • So, who else wants to be social?

    A few weeks back, I’d read about the New York Times launching the public beta of its social network. Its called Times People, but is not a Facebook kind of social network. It allows you to discover, read, share and comment on interesting things on NYTimes.com. The account is directly linked to the NYTimes.com account, so a user is logged in to the service as soon as he logs in to NYTimes. The activities the user does is stored on a personal page, and there’s even a Facebook application, which allows the activities to be displayed in the Fb mini feeds. Given WSJ’s foray into social networking, its interesting to see NYTimes becoming social , but i personally think a service like Social Median, which allows multiple sources of news, subscribing to different channels that one is interested in, and a tool bar plugin which allows sharing of content as you browse, is much more community friendly and useful.

    Meanwhile, I read today that the latest player to enter the world of social networking is none other than IBM. It has launched a service called Bluehouse,  and is an online collaboration network. It allows users to host meetings, network wih partners, share files, start surveys and so on. There are several sites which allow many of these services in isolation, do you know a service which allows all of the above? (via Inquisitr)

    We are not far behind. I read an article about India Konnects, (about whom I had written about earlier) which is creating communities exclusively for industries and companies in India. It is also planning to launch city-specific and business-specific communities, and is starting with an online networking portal exclusively for small and medium enterprises (SMEs) in Gujarat.

    So, three different entities from three different categories working on three diverse social/business networking models.

    until next time, man is after all, a social animal

  • In the news

    Sometime back, I’d written about the need for newspapers to give the digital medium a bit more consideration in their strategy. While India claims to buck the trend of falling newspaper subscriptions, I wonder how many economies have a thriving newspaper ‘raddi‘ market, the process through which the Indian household gains money by selling old newspapers as scrap.

    A few days back, Google announced its efforts to bring old newspapers onto the internet. The Google News Archive is being expanded and will let you search newspaper archives from decades back. I did a few searches, and for now it only has the already digitized versions of newspapers (in India), its a long and arduous task, but well worthwhile for Google. Over time, they plan to blend these into Google search results also. 

    Meanwhile, the latest group to join the anti Google-Yahoo bandwagon happen to be WAN (World Association of Newspapers) Their concern is that advertisers will increasingly migrate to Google from Yahoo when they see diminishing price advantages on the latter. (via Startup Meme) So the deal will give Google ‘super powers’ and weaken the competition in the search-ad market, since the two players had so far forced each other to give the best possible terms to publishers, like newspapers who offer display and search ads on their websites – a consortium of 200 US newspapers run Yahoo ads. 

    So newspapers are afraid that their revenue from third party ads served by Google/Yahoo would reduce? To me, it looks like if they had developed better ways of selling their own ad space, maybe they wouldn’t be looking like a bunch of whining kids. It adds to my belief that newspapers refuse to treat the online medium with the respect it deserves, and only react when their turf/revenue gets affected. I recently read this post, which explains how, many newspapers and magazines employ their regular ‘interruption advertising model’ even on their websites. 

    However, some top newspapers, are showing exactly why they are where they are. The NYT has an offer of a ‘print ad free with an online ad’. A daring reversal, that is perhaps aimed at switching the relative positions of print and digital, from a revenue perspective? The WSJ, has changed its design recently, and that includes adding a social network, the big deviation from normal procedure being that this one has paid access. While this might be considered not-so-smart in the era of free Facebook and LinkedIn networks, I think Mashable’s argument in favor of WSJ’s move has merit. The Time article also states that this might become available to non paying users as well, and there are plans to integrate it with existing social networks.  I think that if WSJ can back this move with some really good content that is flitered for its elite paying subscribers, this could be a long term winner.

    And while all that’s been happening across the seas, Google’s relationship with local newspapers is different. It has come up with Google News in Malayalam, which indexes news from almost all leading offline and online sources, with Malayala Manorama conspicuous by its absence. Other languages are coming soon. (via Medianama) 

    With digitising newspaers and local language news Google seems to be pushing from different directions. But, as these sites have shown in search, it is possible to best Google. For newspapers, its not just Google, there are different threats. For example, GateHouse Media is starting an online-only daily in Batavia, NY. They see tremendous opportunity for a local news and community site, since the leading local newspaper does not have content on its website. (via Publishing 2.0) This opportunity could exist in any place with good internet penetration and where the local newspaper hasn’t capitalised on that. On a sidenote, here’s a good post on how the traditional syndication means used by newspapers might expect a reversal soon. 

    Newspapers really need to pull up their socks and figure out how the digital media figure in their strategy. Now, though I might get lynched for this, already Web18’s consolidated reach has beaten that of the Times Group (India’s largest media entity), on the internet. And in.com, the portal which I think would be their flagship property on the internet, is still in beta. Why is the Times Group, with the #1 selling English daily, #1 finance daily, several language dailies, TV channels, radio stations etc not India’s #1 website. I think its a mindset issue.  

    I wonder, whether, with rising newsprint costs, and environmental concerns ( trees geting cut for newsprint), it might be a good idea for newspapers to start work on a Kindle like thing to distribute content, especially after I read this recent story on Kindle.

    until next time, print this?

  • Marching to different beats

    I read an article today on LiveMint, which deals with creating UGC for TV and Radio. Well, for starters, I think its already being done. The polls, the debates etc on news channels, and more importantly, the reality shows, are all user generated content. Of course, the packaging differs because unlike the net, time is also a factor on these platforms. 24 hours vs what content to put there.

    It also took me back this post, where I’d talked about the relevance of mass media to pure play internet entities. In a warped sense, I’d agree with the article that in a true convergence era, a medium like the internet, which has already absorbed user participation as one of its tenets, would play a larger role in shaping media consumption. So much so, that going forward, I’d bet heavily on an entity like Instablogs, which would find it easier to adopt to platforms like the television or radio. Yes, they got funded too, isn’t that just awesome?

    Which also brings me to another layer of thought, something I’ve touched upon earlier, if mass media entities want to test out the wild wild web and the currently hot social media scene, and what it could do for them, what is the better way of doing it – creating their own scene or leveraging existing popular platforms. I came across examples of both kinds today.

    While NYT is perhaps the best newspaper website in the world, it also plays a bit on social media (check out this facebook app). And today I read about the partnership it had entered into with LinkedIn. LinkedIn users will now get their industry related news from the relevant sections of the NYT site, and these news will have a share option. I think that’s an absolutely great way for LinkedIn to give a good value add to its users, and also stimulate conversations and for NYT, it creates a lot of relevance to the user, and will increase the website’s pull. That’s NYT’s way of leveraging a relevant social business network.

    The other thing that I came across is Radio City’s new website. (thanks to @thej) I haven’t done a complete tour yet, but it seems like they are primarily aiming at build communities there – a section called ‘Friends of Music’ has blogging, groups, finding colleagues(?!) and catching up with others attending gigs. In fact, the profile is also very orkut/facebook, and shows options for picking friends based on geography/music taste/school/workplace. Yes, i cringed at the last two too! It also has a calendar with some events already updated, and even has a karaoke section.  There is also an option to upload videos (upto 20MB) In addition, it attempts a Yahoo Launch by allowing you to create your own station by adding tracks. But I think it is also a way to take ownership of the music space – there is a musicopedia, a lyrics finder, a music news reporter and so on, which aims at making this the one stop resource for music in India. Yes, you can also listen to popular tracks, and stations created by users/ pre packaged ones (eg. KK, Alka Yagnik, though the content in this is limted, as of now). In essence, a decent effort, for trying the music ownership strategy, though from a new media perspective, I’d have liked more focus and efforts on podcasts (like Big FM), a talk show platform, better forums etc, instead of all that work on the orkut style social networking.(classmates and colleagues)

    While I’d usually go with leveraging existing social media, i think  a part of Radio City’s route does have its benefits, given the popularity of music and Bollywood in India, and its potential for creating communities especially with the context that Radio City offers. What they do beyond this would be the really interesting part.

    until next time, tuned in