PRESENTATIONS: "Business, Technology and the Media: Charting a Course Through Chaos"
Running notes from Bill Densmore from the second day of the two-day symposium, "Business, Technology and the Media: Charting a Course Through Chaos," at the Donald W. Reynolds Journalism Institute, Missouri School of Journalism. There may be some typos in the moment, which we'll go back and correct later so consider this a work in progress! Also, there's a CoverItLive blog stream underway: WATCH LIVE VIDEO STREAM AND LIVE BLOG
This week's event is an initiative of the interdisciplinary Center for the Digital Globe (CDiG), the Alfred Friendly Foundation and the Donald W. Reynolds Journalism Institute (RJI). It involves about 50 international industry leaders in media, technology and business. The idea is to create new business models and it's organized by Randy Smith, Donald W. Reynolds Chair of Business Journalism. Among participants: Mark VandenBrink, vice president of technology solutions for Samsung America; Beth Polish, senior vice president of Hearst Corporate Innovation; Ochieng Rapuro, managing editor of Kenya^Ys Business Daily newspaper; Jim Kennedy, vice president of strategy for The Associated Press; Vin Capone, development executive for Apple; Beth Keck, senior director for WalMart; Jin-Yong Park, assistant editor for Hankook-Ilbo (The Korea Times)and Phil Aucutt, managing partner for WR Holdings and president of Junit, LLC. (For a full list visit http://www.rjionline.org/cdig )
Day Two: Developing new business models and and viable focus areas
Venture capitalist Alan Veeck is leading today's session set up this way: Six round tables assembled in Room 100-A of the Donald W. Reynolds Journalism Institute at the University of Missouri School of Journalism.
After a morning culling ideas, and two hours honing a presentation, six groups now present their proposals.
TEAM ONE: The Perfect Calendar
Presented by Marty Steffens, Jim Price and Jeff Vander Clute
"Harnessing the power of local media." Extending the calendar application. It uses your already familiar application, like iCalendar, your Exchange or Entourage or Google calendar, and will populate it with things that will help you spend your day smarter, partner with your local news organization to give you the news that matters, be aware of local civic events, receive local and national ads.
- Consumer in control -- adjust privacy settings to your level of comfort.
- Key milestones .... many components already exist
- Register PerfectCalendar.com domain
- Partners include Columbia Missourian
- Work with partners
- Build technology in agile fashion
- Integrate with social tools like Facebook
- Integration with other technologies, like Outlook and Google, iCal
- Self-serve advertising modules
- Deployment, with milestones for sales, sales training, consumer testing, feedback, marketing
Self-service module that local newspapers can interactive with. Need knowledgeable publishers who can sell the product. Not just broadcasting but community members can upload events.
One idea in version 2.0 would be a "Pandora-like" service that would tailor and make recommendations.
Place ... time ... and retailer specific
Examples: Local coupons (merchant initiated), local coupons (crowd triggered), preferred location (need a place), classified listings. Ad day-parting. Sales reminders. Impulse-buy specials, local and national.
Competitors might be Yelp and Zvents. Differentiators: Facilitation with current calendar, participation, and being able to deliver news within the calendar function.
QUESTIONS AND ANSWERS
COMMENT: Hates the idea of advertising sending stuff into my personal calendar. ANSWER: This will be opt-in as part of your privacy settings.
TEAM SIX: NoSpam News
Group consists of Ochieng Rapuro, Jonathan Friendly, Yihu (Elina) Tang, Amiri Jameel Yehia, Phil Aucutt, Peter Meng and Margaret Duffy.
Like Getty Images, a large content library that people can license.
- Peter Meg leads the description of NoSpam News. It uses a selected group of editors and marketing professionals using crowd sourcing techniques, to test and evaluate news stoires for quality and marketability. Customers are ad agency and corporate partners.
- A global marketplace for advertisres, news organizations and corporations to purchase content and obtain real-time market data.
- Uses a select qualified group of editors and marketing professionals using crowd-sourcing techniques, to test and evaluate news stores for quality and marketability.
- Revenue comes from testing fees, royalties and premium-content sales. Assumption of 8000 transactions in the first year.
- Competitors are traditional market research, Digg and Seed.com/Helium.com, Demand Media. They offer classic research, but that is time-consuming and costly. They work with crowd-source ranking and are an outlet for paid and edited freelanders. NoSpam News costs less, is easier t use and takes a different approach. It doesn't pay freelancers. It ensures the content is of the highest level.
- Challenges and risks -- Big challenge is signing the one content partner with a large content library and then building a user base fast so as not to be out-innovated or overtaken by innovators. Also a challenge to match revenues to market-research spending through 2014.
- Strategic partners sought: RJI, The McClatchy Co., Clear Channel Communications Group.
QUESTIONS AND ANSWERS
Question about monetization: Big play is to have it an easy marketplace to get all kinds of content. A place to easily and cheaply license content rather than just ripping it off.
TEAM FOUR: Global Citizen: "Butterfly"
Team members included Jean-Raymond Naveau, Coleman Hutchins, Jim Sterling, Keith Politte, Alisa Cromer, Steven Sparkman and Washington Gikunju.
A site that provides actionable news about global issues. Content comes from people, institutions, communities, corporations. "You are a global citizen and there is nothing you can do about that," says Jean-Raymond Naveau. "Butterfly provides actionable information, deeper planet possibility."
Information about sustainability providers, GRI taxonomy, news, issues, innovation exchange, products, applications for monitoring local, national and international issues, transactions that allow you to engage in a feedback loop, license content receive local discounts. Benchmarking.
"We realized there are really no global sources -- everyone is watching international news, but no one is looking at things on a global level, the superissues." Butterfly will have to cover 10 languages.
- Market: Who are potential global citizens? Guessing that it is 36% of global internet usres is the pontential market size, people who think of themselves as "Global Citizens."
- Audience is internet-connected global citizens, companies, staff, invesetors, fund managers, global-citizen related NGOs.
- Management team: They seek Arianna Huffington as a sustainability expert. Angels would be alMark, World Bank, WHO and Samsung.
No one out there doing this now. People are having to go to the Internet to piece together their news. (Viewing chart taken from the Pew Project on Excellence in Journalism.
QUESTIONS AND ANSWERS
What would the three launch issues? Answer: Environment, government and climate.
Will you adapt content regionally to deal with cultural differences? Try not to appear too Western.
Hutchins: "We really want to stay above the national level."