Google's chief economist sees tablets as profit center for newspapers
The digital edition of the New York Daily News offers a page-by-page perfect replica of the day's print edition
Varian says that thanks to tablets, news readers are now reachable at times where they could not be reached before. But during those times, the tablet reader is not able to read in-depth stories which means less revenue from ad impressions. While the Pew Foundation recently found that 64% of tablet read the news on their slate, the trick for newpaper sites is to get fresh and interesting news to readers to keep them coming back to read more in-depth analysis later on in the day when they have more time.
The key for the survival of newspapers on tablets is timely and in-depth reporting. Returning to the numbers we mentioned before, newspapers are making one-eighth of their ad revenue online. Getting tablet owners to spend more than 2 to 4 minutes reading news sites on a tablet will lead to more clicking on ads and more revenue.
Another way for old-line newspaper groups to raise their online presence and revenue is to offer digital editions of their paper as an app. For example, the New York Daily News digital edition is a perfect page by page replica of the daily print edition down to the ads. Now, the local A&P isn't going to want to spend more money on an ad carried in the digital edition because a reader in Oshkosh is useless to them. But it could lead to some national accounts for the papers. Right now, after a 30 day trial, you need to pay for the digital edition of the Daily News. But it might serve newspaper publishers to push their circulation and offer these editions totally free to readers in perpetuity, and rake in the advertising dollars.
source: JournalismFestival via SlashGear
1. Hammerfest (Posts: 322; Member since: 12 May 2012)
So... newspapers have become irrelevant, your industry has died, time to change or have your company's die as well!
If only they would actually try to change to fit the new process, instead they will probably end up like the RIAA and MPAA aka the MAFIAA and suing everyone into oblivion because they cannot fathom change or even adjusting to a much more direct and yet much less $$$$ oriented revenue stream!
2. woodshop20 (Posts: 430; Member since: 14 Sep 2013)
It doesn't really require an economist to see that traditional newspapers are dying and that they need to change in order to stay relevant.
Google Currents is pretty decent though.