Wednesday, November 18, 2009...9:00 am
Reed’s Karl Schneider: “10 more years for print”
As promised yesterday, more from Karl Schneider’s talk to UCA journalism students. We’re moving into multimedia territory now – with a handy summary underneath the video in case you actually prefer, you know, reading.
Karl Schneider – editorial development director, Reed Business Information
On Rupert Murdoch’s plans to charge for web content:
“To a lot of journalists that’s very reassuring. But I’m very sceptical of the ability of mass publishing – for news as most of us understand news – to be charged for”
- More than 50% of Reed business Information’s revenue comes from the web
- Newspapers aren’t viable financially if the only money they make is from sales
- None of Reed’s magazines is viable from subscriptions or newsstand sales alone
We will make money in a number of ways:
- Advertising will work (once the recession recedes)
- Old-fashioned, untrackable brand advertising in print is “smoke and mirrors”
- The interactivity and trackability of web advertising has much more potential to attract advertisers
- We haven’t come up with the definitive models to do this
- Don’t let the pursuit of the interactive advertising experience undermine your editorial content
How can we make this work?
- Forget the old print model. Publishing is much more like being in a virtual space – think of it as a big room.
- One analogy is with the world of events and exhibitions. You don’t just suggest an advertiser just sticks their ad on a wall. You let them interact with the audience.
- But you don’t let them run across the stage when the keynote speaker is on. Instead, you create a parallel exhibition space that lets the advertiser interact with delegates and add value to the event.
- We’re still only at the beginning of how to make this work.