Juan Senor on future of newspapers and the newspapers of the future
October 22, 2009 by marek.miller
During the INMA/OPA Outlook 2010 conference, Juan Senor from Innovation Media Consulting Group (”one of the most famous firms creating newspapers” – according to “Financial Times”) gives news publishers his ideas, of what should be done in order to improve their business models. In the midst of the worst economic downturn in generations, many suggest newspapers are confronting the end. Nothing could be further from the truth. In this presentation based on preparations for the forthcoming book “Future News: The Way Forward for the News Business”, the attendees had a chance to remind themselves of what makes newspapers unique, and what makes newspapers sell. Read further for more information from this extremely interesting presentation.
The speaker dreams to answer the three main questions for the publishers:
- what people want in 21 st century?
- how can the news publishers get there?
- where is the money?
Juan Senor wanted to change the understanding of the words being commonly used. Instead of media companies, they should think of them as information engines. Instead of readers, they should start thinking about audiences.
In Juan Senor’s opinion, news publishers have actually 4 choices:
- to exit
- to be sold or be taken over
- to cut the costs until the cash cow bleeds to death
- to re-invent the business by focusing on profit audiences
The best way is of course the last one.
Paper will stay forever – this was a strong thesis of the speaker. No medium has ever replaced the other medium. What will change are business models and content propositions.
The speaker is not worried about the future but about the present. He is also not worried about the future of newspapers but about the future of journalism.
News publishers should rediscover the soul of newspapers. What has made them great in the past will make them great in the future. And under “SOUL”, Juan Senor understands four features of newspapers. They should be Sensous, Omnipresent, Unique, and Light.
Newspapers must change, their content proposition must be totally different. Transformation must begin with editors. The journalists should become journANALYSTS. Context plus analysis marks the only situation when people will be paying for newspapers. At the same time, publishers should care about dynamics of their newspapers. Journalists write more these days because it’s harder to write less. Newspapers should transform to newsZINES. They should carry less yesterday information, and more today and tomorrow news and forecats.
What makes Juan Senor really trustworthy are the successes behind the work of the company he works for. The relaunched French “Liberation” is up 12% in circulation month over month. Another newspaper, “Correio” is up 27% in circulation year over year.
The speaker suggests 5 revolutions. Every single news publisher should:
- reinvent content
- redesign formats
- reorganise newsroom
- rediscover online revenue streams
- rethink advertising and distribution models
Online has to become the heart of news operation. But it does not mean abandoning print. Whatever model news publishers adapt, it should be hybrid. Kind of like one digital kitchen serving several restaurants.
And where is the money? The question is not to charge or not to charge, but how to charge. You cannot open the doors that are open. Paywalls no. New rooms, and niches – yes.
Tagged: INMA, innovation, newspaper, Outlook 2010
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