Hyper Local Business Models for News Media

What’s the best business model for a newspaper, broadcast or hyper local news site? What if the answer was as simple as running your website like a real business, with a profit-first strategy? This kind of talk flies right in the face of those who preach entrepreneurial journalism and editorial first strategies.

We know that’s either too damn scary or time-consuming for some old school journalists and media executives. Learning new skills and changing workflow takes time. But when Reach Local, Patch and indie sites like AroundMainline.com are taking bigger chunks of revenue out of the market, you might want to ‘eat your peas’ and get with the program.

In this month’s DIGITAL REVENUE REVIEW (video below), we expose the choke points killing our companies from within.

Jim Schachter from The New York Times giggles about his lack of web-sales, as Warren Webster from PATCH shakes his head in amazement. J-school professors; Jay Rosen and Jeff Jarvis are also in our cross-hairs. (These guys may want to reconsider their interest in teaching entrepreneurial journalism)

Mike Agovino from Triton Media talks the downside of CPM, and so does Randy Michaels from Merlin Media. (Sam Zell makes a guest appearance)

Steve Lanzano from the TVB chats up hyper local TV efforts.

Researchers are skewered for the foolishness of actually asking people to pay big bucks for un-needed, local media research.

Alden Global Capital; the private equity firm with a heart, is on a tear as they quietly grow it’s portfolio of distressed media properties like the Journal Register Company, Gannett and the Philadelphia Inquirer. 

Hyper Local mis-steps; In-Jersey, Loudoun Extra and TBD.com are outed for the real reason of their demise. Hint: it’s not what side-line commentators like  Alan Mutter or Rick Edmunds from Poynter have suggested.

Watch the amazingly spectacular video here: