The ceaseless disruption to all media business models is accelerating rather than abating with all changes requiring regular strategic adjustments and nimble resources. Organisations that can both adjust their short-term strategy and prepare for the impact of technology-led change will outcompete their rivals. Today there are three key areas that are driving change…
Firstly, having the ability to engage and monetise audiences in multiple ways from B2B revenues of sponsorship, advertising and affiliates to direct consumer of subscription, events and membership – the key will be to match the product to the right monetisation strategy.
Secondly, the world feels smaller and more virtual since the pandemic; businesses are looking to take advantage of remote working to tap into lower cost and higher quality resources around the world, while having content and pricing strategies for digital products that make sense to consumers wherever they are in the world.
Finally, focus investment on core products, high-quality content and audience engagement to retain customers and readers while reducing expensive and less efficient acquisition in highly competitive markets.
Automation, outsourcing, location changes and strategic partnerships all offer long-term sustainable cost-out opportunities
