Portada Conference 2012 - Gabriel Dantur
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FUTURE OF LATIN MEDIA Is it going where it wants to go or where it should go?
description
Portada Latam Summit 2012 - The Future of Latin Media: Is Latin Media going where it wants to go or where it should go? Gabriel Dantur discusses the challenges of transitioning from traditional media to digital media and the ways in which Latin America is carving its own path in the global industry. Watch this event on YouTube - http://www.youtube.com/edit?video_id=EXH-l-dN3MM Attend Portada's 2013 Latin Content Marketing Forum in Miami this June 4th, 2013. Learn more at: http://www.portada-online.com/conferences
Transcript of Portada Conference 2012 - Gabriel Dantur
FUTURE OF LATIN MEDIA
Is it going where it wants to go or where it should go?
About me
DIGITAL CONTENTS ONLINE CLASSIFIEDS DIRECT RESPONSE
MANAGING DIRECTOR BOARD MEMBER BOARD MEMBER
JOBS
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CONTACT CENTER
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BENEFITS CLUB
NATIONAL NEWS
SPORTS PORTAL
9 DIGITAL MAGAZINESWomen (3)GossipMenTurismRolling StoneHome ImprovementsGardening
“Don’t tell me what you believe,tell me what you know”
From a grumpy old-timer to a flamboyant young politician in a TV show
Internet is a disruptive technology for media business
FACT #1
Disruptive technology changes the value proposition in any industry
FACT #2
The Chicago-based company now generates 85% of its revenue from digital sales, and also recently started offering a digital encyclopedia for tablet computers.
The company began digital publishing in the late 1980s with CD-ROM versions of the books, before going online in 1994. Online versions of the encyclopedia are now used by
around 100m people worldwide.
Some companies deliver new value
And some don’t …
“Newspapers took two cents of journalism and wrapped in ninety-eight cents of overhead and
distraction”
A very harsh vision of the newspaper value proposition by digital guru Seth Godin
SENSE OF BELONGIN
G COMMUNITY
TRUST & REPUTATIO
N
BREAKING NEWS
NEWS CURATIONOPINION &
ANALYSISDEALS
& SALES
CLASSIFIEDS
SWEEPSTAKES &
PROMOTIONS
SERVICES & GUIDES
PORTABLE
ON DEMAND
Newspaper value proposition in the Golden Age
Along came the Internet
SENSE OF BELONGIN
G COMMUNITY
TRUST & REPUTATIO
N
BREAKING NEWS
NEWS CURATIONOPINION &
ANALYSISDEALS
& SALES
CLASSIFIEDS
SWEEPSTAKES &
PROMOTIONS
GUIDES & SERVICES
PORTABLE
ON DEMAND
And changed this value proposition
The naked truth (FACT #2 )
The naked truth (FACT #2 )
The Internet disruption has happened, and the business has been irrevocably altered.
The only way to survive disruption is to understand the value you need to deliver and shape your oganization accordingly(and it will be painful …)
FACT #3
AUDIENCE ADVERTISERS
VALUE
ORGANIZATION
Where should LATIN MEDIA go?
1
The DO NOTS are much more clear than the DO’s
Profit from the time window opportunity and learn from the mistakes the big guys made
Try to avoid 6 frequent sins of digital transition for media companies
(the bigger the company, the higher the frequency)
Cold feet (a.k.a Denial)
When the net blossomed in the 90 s, why didn’t newspapers ′respond?
Because classified ads were a cash-cow and CEOs were responsible to Wall Street, so few had the courage to see Craigslist as a threat
and blow up their cash-cow.
And that is the Innovator’s Dilemma.The giants won’t eat their young.
IF SOME ELSE IS GOING TO TAKE YOUR REVENUES AWAY IT WOULD BETTER BE YOURSELF, BUT PLAYING BY THE NEW RULES
Newsroom and product egocentrism
Forget about ‘content management’ and focus on ‘audience development’
Content is just a means to an end.
The end, and media’s greatest asset, is audience.Advertisers don’t pay to reach content , they pay to reach
audience
DON’T LET YOUR STATUS QUO DETERMINE THE VALUE PROPOSITION. DON’T FALL IN LOVE WITH YOUR CMS. PRODUCT (TECH) & NEWSROOMS ARE
CONSECUENCES, NOT CAUSES
But this theory that newspapers could have somehow won a war against the internet if they had just charged users for content misses the point.
The “original sin” of the online news business
A failure to charge for content when the web was new
The paywall mirage
Some publishers say, “They bought it before, they’ll buy it again,” or “We need to get people back into the habit of paying for news.”
But consumers never did pay the true costs.
Newspapers have never made the bulk of their income from readers who pay for content.
Subscription prices and newsstand sales have always been subservient to advertising.
Besides paywalls are a privilege only for a few producers of differentiated content.
ENCOURAGE READERS TO SEE THEMSELVES AS MEMBER OF AN EXCLUSIVE CLUB WITH PERKS AND REWARDS. BUILD RELATIONSHIP FIRST, THEN MONETIZATION FLOW FROM THERE.
Direct response immitation
Advertising dollars are already online, just going elsewhere (evil companies …)
This confirms a much feared trend. By and large, in a news context, the performance of digital advertising is on the decline.
All indicators are now flashing red: CPM (cost per thousand impressions), cost per click, volumes, yields, etc.
NOBODY CLICKS ON A BANNER IN A NEWS SITE
The cause is well-known, and way more acute for digital than for print: ads and news contents do compete for the same eyeballs.
DELIVER ADDED VALUE FORMATS. RICH MEDIA. CONTENT MARKETING. INTRUSIVE ADVERTISING. BRANDING SOLUTIONS.
LEAVE TRANSACTIONAL TO GOOGLE
Boxing Mike Tyson
Do everything pure play Internet companies are doing but with a worst value proposition
We did it many times and failed. But lucky enough, we knew how to fail fast.
(let me share our two worst cases …)
SELF SERVICE ADVERTISINGPLATAFORM
VIDEO PORTAL
[The iPad is] a fatal distraction for media companies. Too many publishers looked at the tablet as the road home to their magazine
format, subscription model, and expensive full-page ads.
The format of a single device does not change the fundamental ecosystem underneath it, and this shiny tablet has taken media
companies’ eyes off of the ball.
Probably you will only be successful in migrating your actual faithful base of paper products to a new device.
The tablet paper replica illusion
REMEMBER. NEW GAME & NEW RULES. ZITE AND FLIPBOARD ARE SETTING THE BENCHMARK.
The one thing Latin Media should do?
BUILD A NEW VALUE PROPOSITION FOR AUDIENCE AND ADVERTISERS
MEDIA SUPER HERO
VALUE MANDOCTOR CONVERGENCE
CAPTAIN BUNDLELADY PAST GLORY
TECHIE SERIAL COPIER
Fights a legion of super-villians in the QUEST FOR
VALUE
Custom Publishing
On line Classifieds
Direct Response
Digital ContentsEventsNewspaper Magazines
Chinesse walls strategy
FOCUS IN FINDING THE VALUE PROPOSITION OF EACH BUSINESS
LA NACION and Impremedia
On line Classifieds
Direct Response
Digital ContentsNewspaper Magazines Events
BUSINESS LEARNINGSBEST PRACTICESCOST SINERGIES
TECHNOLOGYSHARE CONTENT
Twitter @gdantur
THANK YOU
