Articles

9.12.2010 Newspaper owners put focus on innovation

New product development and enhanced branding are among the strategies newspaper publishers will employ to drive growth, a study has found. The World Association of Newspapers and News Publishers partnered with the Norwegian School of Management and University of Central Lancashire to survey 500 relevant media owners in 100 countries, finding that 18.5% of participants' revenues had fallen by at least 21% over the last corporate financial year. More than 25% noted a decline in the 11% to 20% range, and almost a third pegged the scale of this contraction at between 1% and 10%.

While the panel represented publications varying in size and reach, new product development was considered the primary goal for a majority of the sample. Acquiring additional revenues from external sources was another leading aim, and 19% of those polled must boost their takings by between 11% and 20% to meet overall objectives. Another 27% of contributors intended to augment returns delivered via "non-traditional" sources by a margin in the 21% to 30% area in the next five years, a 1.3% uptick from 2009. Over 67% of interviewees hoped to roll out fresh products or services during the coming 12 months, and half wished to streamline workflows and processes, improving efficiency as a result. Indeed, 60% of executives suggested introducing digital offerings had the greatest potential to save money and strengthen performance going forward. Marketing and branding, more in-depth audience research and better customer relationship management were other tactics attracting interest.

B.L. 9.12.2010