Back in the days of monopoly distribution, selling the news was a fantastic business. Local media outlets, with captive customers and competitive insulation, enjoyed profit margins as high as 25% or even higher. The internet dismantled their monopoly advantage. Now, offering general news like that is a shitty business. In a world where diversion is just a click or a swipe away, user engagement with general news products is irregular, with short, shallow usage sessions and erratic visit frequency. Smartphones have given birth to the Age of the Skim, which has made the engagement problem even worse. How to build audience by transforming skimmers into engaged customers with a predictable consumption habit is the singular challenge faced by media outlets today. The second challenge? Learning how to sell them, of course.
Plus, the fall 2021 update of the most interesting current developments in media…
Predictable profitability is fatal without leadership committed to continuously challenging the assumptions on which it is based. You can’t do that if you don’t know how to build an open-minded and competitive culture
Fox News Channel hosts are brazen in their allegiance to Trump and his agenda. It’s as if they work for Pravda, the mouthpiece of the politburo. But behind their pretense of objectivity, mainstream media is no less biased