Media needs multiple platforms

2010-03-11 16:03

kalahari.com

New York - Multiple platforms and revenue streams are going to be key for media industry players hoping to survive and thrive in the fast-changing digital landscape, top media executives said on Wednesday.

With advertising revenue eroding and free content abundant, media companies are going to need to adapt their strategies to the new environment ushered in by the internet, they said at the Bloomberg BusinessWeek 2010 Media Summit.

"The brand has to transcend all of the different platforms," said Renee Plato, the vice president of digital video distribution at Walt Disney Co, whose properties include the ABC television network and sports giant ESPN.

"Our main goal is to reach the fans wherever they are on the best available screen," Plato said, whether that be on mobile screens, computer screens or TV screens.

"Perhaps there's a way that consumers are paying for that access, that convenience, and perhaps not," she said.

Evolve

ESPN's assistant general counsel Raphael Winick said the goal is to make ESPN "the place you come to get sports and sports information".

ESPN outlets include six TV networks, radio stations, a website, ESPN.com, mobile phone applications featuring live-streaming of sporting events, a magazine and even ESPN branding on videogames published by Electronic Arts.

"We're trying to be the place where anyone who's interested in sports, anyone who's watching sports, anyone who's talking about sports, goes to consume, watch, talk, interact with sports," Winick said.

"Whether it's in their living room in front of their TV screen, whether it's on their phone, whether it's just with their friends or reading the magazine on an airplane," he said.

While ESPN may be thriving, ABC News just announced huge cutbacks in its newsroom and US newspapers and magazines are struggling to find new revenue amid the advertising slump and migration of readers to free news online.

"There's no doubt news is a challenged model," Plato said, but "old media's not dead, it's evolving. The companies that learn how to evolve quickly will survive."

"Advertising will continue to be a very important revenue stream but the reality is in order for publishers to make this transition they have to find new revenue streams," said Pam Horan, president of the Online Publishers Association.

Right strategy

"How do we continue to build great content, which in most cases consumers are used to getting for free, and find a model that will allow us to sustain that in some fashion and be able offset those costs through other programmes?" she asked.

One revenue-raising approach being considered by a number of US newspapers is charging online readers, like The Wall Street Journal has done successfully with its website, WSJ.com, and The New York Times intends to do next year.

Julie Michalowski, vice president for business development at Conde Nast, said erecting a pay wall is not a move being considered by the publisher of The New Yorker, Vogue, Wired and other magazines.

"All of a sudden walling off our content and saying you can't have it, I don't think that's the right strategy," Michalowski said.

"What we want to continue to do is to build digital relationships so that we can have a multi-channel relationship with our consumers that includes print and includes other ways that they want to access us," she said.

Growth area

Jon Klein, the president of Cable News Network US, said it is "no secret" that "everyone in the media business is actively looking for multiple revenue streams".

CNN for its part has invested heavily in its ad-supported website and recently launched a news application for Apple's iPhone which costs $1.99 to download.

"Online is a big growth area for us, mobile has enormous growth potential and domestic US cable is actually a growth area," Klein said. "There's a lot of room to grow.

"We're in a lot of places and I think that's the model that can be very successful for us," Klein said.

Read more on:    internet
NEXT ON NEWS24X

SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/News
 
Traffic
Lottery
 
  • Wednesday Gordons Bay - 18:30 PM
    Road name: R44 Faure Marine Drive Both Ways
    ROAD CLOSED at Suikerbossie Drive due to roadworks until 5am - traffic diverted - expect delays
  • Wednesday Kuils River - 18:01 PM
    Road name: Polkadraai Road Eastbound
    ROADWORKS between the R102 Van Riebeeck Road and the R310 Baden Powell Drive exit - expect delays
 
More traffic reports...
 

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

2 TV Series for R250

Get 2 TV Series box sets for R250 and save up to R148! Offer valid while stocks last. Shop now!

Pre-order the Xbox One

Get this all-in-one entertainment system with live TV, movies, social networking and gaming. Pre-order now!

Up to 50% off hair care products!

Save up to 50% on professional hair care products at kalahari.com. Offer valid while stocks last. Shop now!

30% off academic books

Score a mind blowing 30% off academic books! Offer valid while stocks last. Shop now!

Mind blowing deals on electronics!

Save up to 35% on electronics. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

BlackBerry Bold 9790

Bold Design The BlackBerry Bold 9790 smartphone combines the iconic BlackBerry...

From R2508.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

Your heart is big and you are sensitive to the needs of those around you. Your humanitarian side is emphasized today and you may...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.