Smaller, More Complex Revenue Sources Expected in Digital Media’s Future

Content is getting extended further to develop more revenue opportunities

The Pew Research Center’s Project for Excellence in Journalism recently released its State of the Media Report for 2011.

This report discussed a number of major trends within our industry.

One specific trend addressed the market itself. In doing so, the report stated, “The economic model for news will be made up of many smaller and more complex revenue sources than before.”

To embrace this concept, some companies are looking for ways to extend their content. For instance, Hearst coined phrase “content extensions” this week as they hired David Kang as the new creative director of content extensions.

According to eMedia Vitals, content extentions are defined as new ways of creating, repackaging and delivering content across a variety of platforms and audience segments. This is done to diversify revenue streams.

This concept sounds like the strategy of content marketing itself, perhaps with more of a focus on different audience segments.

What it still boils down to is high-quality content will draw in audience members. The different platforms will allow consumers to engage with the content in the manner in which they prefer. This of course brings the opportunity for more revenue generation.

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The following four examples are ways publishers are utilizing different platforms and extending their content:

#1: Apps – With the popularity in mobile and tablet devices growing, apps are a great way to reach audience members on the go. Tablet growth is accelerating greatly and allows for rich, multimedia experiences for users.

#2: Disaggregation – Taking content that’s already made, breaking it down and repackaging it is a great way to attract new audience members that were previously unfamiliar with the information. Some publishers are disaggregating through apps on their website to cater to the mobile audience.

#3: Events – Regardless of the evolutionary path technology travels on, face-to-face, personal interaction will always have value. It’s a great way to interact, build community and network with like-minded individuals while sharing your brand’s focus.

#4: Product integration – For some, this involves integrating advertisers into their content. For others, on a more organic path, this may include integrating all social media platforms together. Building social sharing tools into blogs and newsletters helps audience members share the content more relevant to them with other people.

For more, take a look at State of the Media Report for 2011 and this article from eMedia Vitals.

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