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Revenue trends worsen in second quarter; focus on local
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By Craig McMullin
(Click on each graph to display a full sized image)
After a rough first quarter, revenues worsened in the second quarter. Overall, 64% of free papers are running more than 1% down year to year in total revenues. That compares to 59% in the first quarter.
Eighty publishers participated in the latest poll conducted by the Association of Free Community Papers.
 Once again, regions differ widely in business results. The Midwest continues to show revenue gains, while The West Coast, Northeast and Southeast are hardest hit. The Mid-Atlantic region reported more decreases in revenue than gainers in the second quarter, a reversal of the first quarter results.
 Type of market appears to have some impact on revenue trends with rural markets reporting better results than urban or suburban markets. However, publication type does not appear to be a major factor. Both shoppers and newspapers reported very similar results for the second quarter. Niche publications did not have adequate participation in the survey to show their results.
 While these results are alarming, daily newspapers have suffered much more significant declines. Major media company's stock values have plummeted in the past year, providing a market that is ripe for significant market consolidation. Look for media companies to merge in the coming year.
So where is the silver lining in this otherwise dark thunder boomer? Local!
 Every major media company is focusing on local and micro-local. Major dailies are wringing their hands wondering how they are going to get coverage of suburban city councils and P&Z departments into their pages and on their websites. You already publish this information.
They are trying to get garage sales, death notices, marriage announcements and tons of micro-local information into their pages and on their websites. From their point of view, it's an insurmountable task. You already publish all of this.
Make your website the roadmap for survival in your community. Get as much local information on your website as you possibly can. Get residents to contribute local information (for free) by providing space for them to blog, enter data, vote on the best stories, best restaurants, best classifieds, best anything as long as they are interacting with your website.
People are habitual. Their readership habits have been your franchise. It's kept others from successfully starting publications against you. Competitors may have popped up, but they soon blew away like last fall's dead leaves.
Now your readers are building online habits. From pre-teens to senior citizens, people are deciding how to use the Internet and all its fancy electronic toys in their lives. You have to make sure that your website is top of mind when they want to know something about the community in which they live!
And do it now! You really don't have time to waste thinking about how or why. Simply get started, learn from your mistakes and broadcast your successes. Here are three sites to review: www.gvpennysaver.com, www.denpubs.com, and www.valleyjournals.com. All three are owned and operated by independent publishers and you can learn a lot about online publishing by surfing their pages.
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Video advertising at the Baltimore Sun
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At baltimoresun.com, video advertising has a bright future. And not just 10-second pre-roll videos or posting clients' existing television commercials online. They're on to something much more lucrative. Below are two examples of how the staff at baltimoresun.com has incorporated video to serve local businesses in innovative ways: one involves embedding video in a standard online display ad, and the other involves providing Web development expertise, including video, to do a specific job for a local business.
Read more...
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Copley Seeks to Unload Flagship 'San Diego Union-Tribune'
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NEW YORK The San Diego Union-Tribune is going on the auction block, its parent company The Copley Press announced this afternoon.
Copley has retained New York-based investment firm
Evercore Partners to "explore strategic options for the company's
future including a potential sale."
"The last couple of years have been a difficult period
for the newspaper industry, especially those in a real estate-dependent
market like San Diego," Harold W. Fuson Jr., executive vice president
of the privately held company, said in a statement.
"We have every reason to believe the business will
rebound with the economy, but the uncertainties pose too great a risk
to sit still."
Copley sold its other properties in California and the Midwest in 2006 and 2007.
Read more...
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Cheers,
Craig McMullin
AFCP
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Sales Promo Idea of the Week...
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Check out these holidays and events occurring in September:
- National Chiropractic Week
- National Singles Week
- American Business Women's Day
- National Food Service Week
- Labor Day
- Rosh Hashanah
- Grandparent's Day
- Yom Kippur
- First day of Autumn
Each event is a great opportunity for a special promotion! |
Are You Connected?
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Join the forums today!
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