TIME Casualties, Newsweek Funerals & New Startup Biz Models. Revenue Before Branding

The dire straits of Newsweek is a grim, though hardly surprising, development. Neither as a longtime Time magazine guy nor current New Media wannabe dude does the prospect that this historic brand might vanish offer me any satisfaction whatsoever. Those dancing on graves reveal more about themselves than they do about either the deceased or the reasons for the demise. That a chunk of the old stuff is bound to fail/disappear is by now a given, and all the victory shouts and schadenfreude is just the shit talking of middle school playgrounds. Indeed as Clay Shirky has pointed out, failure is one basic fact that unites the MSM with the would-be new stuff.

So what do the current predicaments of Time and Newsweek tell me — downsized Time foreign staffer, current Time (and Time.com) contributor — about getting my startup up and started? It is clear that both these weekly print/digital brands and potential real-time vessels still carry weight with the general public. It is also clear that the management no longer sees the value in staffing the world like they once did. On good days, you can see that the Brand + the DNA of the institution + the network of collaborators can still turn out some pretty great and sellable stuff ….on bad days, they’re running on fumes.

There is a fine line where a quick dot.com piece  can start to look like a mediocre blog post, where a decent dot.com piece is “repackaged” for print, and doesn’t quite cut it. And then, with a mix of insight, pavement-pounding and a nose for the zeitgeist, a colleague can tell us who we are as a society — and it both sparkles as the print cover and finds weeks-long legs on the web.

But we are still left wondering what the future will ultimately be of a “respected global news brand” that is not committed to investing in the production of first-hand, on-the-ground reporting. These are innately national/international publications that don’t have the option like the LA Times or Chicago Tribune to retrench geographically and focus on local news for its local reader base.

Still, as always, we’re talkin’ about a revolution, and I have (by choice/necessity) thrown myself into it, unburdening my brain matter with trying to hold on to the past. It helps to imagine old brands in new ways. And in turn, imagine my own project in new ways, with new models, almost every day. Both Time and Newsweek could potentially evolve into content-distribution vessels, portals, brands that acquire their content from others. And I’m not talking just single freelancers, but companies in the business of offering a consistent, tailored stream of content to those who have the brand/audience that can sustain it.

Maybe there’s terrain to be exploited on the continuum between the Ny Times and Yahoo news? And without staffs, but WITH coming paywalls/iPads, etc, there will be a need for quality content. And that’s where lately I’ve begun to see the business model for the launch of my own project. That may be what globalpost may be pivoting toward, with a series of partnerships at least as impressive as its unique viewers growth.

The urgency to discover business models in itself will help drive the evolution of the way news is produced. That of course goes for Demand News consciously downgraded quantity-over-quality, but should also be the case for those of us who want to offer something better to readers. Frédéric Filloux, as always, boils it down nicely in his most recent Monday Note. A believer in new technology, an incisive (and entertaining) critic of the serial mistakes of legacy news, the former editor of the French daily Liberation still believes that “professionalism” matters…and has value.

Two conversations I have had in the past two weeks: one with another MSM dude breaking off and doing his own thing, the other with a European internet executive (hopefully I will have more to tell about her in coming weeks…) have convinced me that the business model must begin with what is generically called ‘B2B’, that is, selling our product directly to other businesses, in our case, other major brands or web portals. In France, they call it an agence, which is an all-encompassing term that includes the wires (AFP), but also smaller content providers. In the new digital world, it can mean many things.

If we do pursue this course, it would mean a shift of focus from mass branding to targeted selling. I have no preconception of what the business must look like: I just want it to work, survive, thrive…If content is King, selling it is the crown (the power), and brand is the castle. Nice to have all the elements, but maybe it is no longer necessary? And here in Europe, we know that some castles without kings are nice to look at, others simply disappear into history…

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2 Comments

Filed under advertising, branding, business model, content, entrepreneurship, journalism, new media, old media, paywalls, platforms

2 responses to “TIME Casualties, Newsweek Funerals & New Startup Biz Models. Revenue Before Branding

  1. 66

    We’re all headed into the unknown. I liked it when the journalists went there and reported back, so I could stay in the know now. The story is $5K or the vacation is $5K. I’ll take the vacation. Getting $5K for the story is another story. A big story might be worth $50K and then you can take a longer better vacation. Know where you are going before you get on the jet.

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