Rji-pivot-project-information-newco

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Revision as of 14:42, 3 July 2012 by Buzz Wurzer (talk | contribs)
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  • An outline of the reasons why traditional media need a new collaboration of local markets working in tandem with a global shared-user network for trust, identity, privacy and information commerce. An "information newco" is proposed. Buzz Wurzer.

BACKGROUND ON BUZZ WURZER
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NEW TECHNOLOGY OPENS OPPORTUNITIES FOR MEDIA TO STRENGTHEN RELATIONSHIPS WITH THE COMMUNITIES THEY SERVE
  • More compelling content through inclusion of all stakeholders
  • The most innovative distribution channels for improved content
  • A shared user network as a way to best monetize improved content

GUIDING PRINCIPLES ARE TO:

  • Specify the architecture for improved content
  • Parcel out the action points to achieve the architecture
  • Outline the partnerships, alliances and collaborations to distribute and monetize the improved content

CORE ISSUES:

  • Digital publishing has over taken traditional media publishing model
  • Traditional media's role as an information gatekeeper has been transformed to 'many to many" publishing model
  • Information users are inundated with too much information and of limited value
  • Traditional media revenue has seriously eroded with little end in sight
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VIEW FULL SIZE CHART

KEY NECESSARY ACTION STEPS:

  • A new model for information gathering and producing compelling value is imperative
  • An assessment of what users seek as valued content is needed
  • A duality of information networks are necessary to return traditional media to sustainability
  • Traditional media needs to partner with innovative technology, software and digital startups to highlight their storied brands, provide creative navigation tools and distribute compelling content in a platform neutral environment.


OLD VS NEW INFORMATION CONTENT MODEL:

    The old model:

    • Get and report key story facts
    • Expand story to a news analysis when more facts are available
    • Provide editorial opinion when appropriate
    • Place serendipitous advertising around the above

    The new model:

    • Include all publics in the real time, ongoing story discovery process
    • Optimize navigation, search and social network tools to enhance story value
    • Continue, build and distribute story value for all digital/analog channels
    • Enhance story value with targeted opt-in advertising messages and pertinent product and services e-commerce

KEY USER INFORMATION NEEDS:

    Local markets -- covering community

    • Issues and events
    • Environment, economic and social
    • Education
    • Government
    • Leaders, Organizations

    General information --covering by interest sectors

    • Healthcare/Wellness
    • Politics/Taxes
    • Economic Environment
    • Education
    • Environment
    • Faith Based/ Religion
    • Global Affairs
    • Technology

LOCAL vs. NATIONAL NETWORKS ROLES:

    Local networks -- This local network requires dramatic fixing

    • The network consists of individual local media partners, market by market, migrating from legacy to digital mode
    • Local media must migrate to the new model of information gathering and distribution
    • Each market is its own proprietary network with unique registration, payment plan and data base profiling
    • Each market is augmented by its own local ads and e-commerce software
    • Each market sets their own costs

    National shared-user network -- This network needs to be created and work in tandem with local networks

    • The network is formed and operated as an independent, entrepreneurial Newco
    • The network shares the home page of each local market digital offering regardless of device
    • The network creates the information by sector that drives people’s lives beyond their community
    • Each sector content is created by partnering with new digital only startups in each sector working in tandem with legacy editors on a re-organized national, regional and state basis
    • The network is accessed by a common ID Pass
    • It is a shared user network that provides, atomized, or disaggregated, content
    • The network offers personal information agents that users interact with to enrich their sector’s information
    • With opt-in user profiling and mass user data base, this new network becomes an attractive buy for national interactive advertising and marketing budgets
    • This network has new, dynamic authentication and micro-payment processing protocols
    • The network has a US tolls pass, not a Florida Sun Pass; it has a VISA card, not a Macy’s card; it has an ASCAP royalty return for all parties, whether Local Only; whether Newco only; whether user move back and forth between any and all networks
    • Newco establishes a cost structure that all members agree to accept

SOLVING THE REVENUE PROBLEM:

    Local

    • Local keeps print revenue as long as possible
    • Local builds new local digital revenue via improved civic storytelling and various commercial offerings

    National

    • Provides massive data base of collective shared users
    • Builds large niche data base relative to each content sector
    • Becomes a must consider for all national interactive, marketing/advertising budgets
    • Paves way for endless possibilities of partnerships with digital start-ups and key advertisers
    • Paves way for potential alliances with mass and class portals
    • Major share of new revenue returned to local media partners for local network investment



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