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sumaiya zahan
Jul 31, 2022
In Welcome to the Forum
As a paper book author who has been favored by publishing houses, I have really sweated for the traditional paper media in the past few years, and there are always death knells in my ears: Newsweek sold to 90-something audio-manufacturing mogul for "Business Week" quickly changed its name to Bloomberg while others took over TIME Magazine picked up by founder of cloud computing company Salesforce It is indeed a sad thing for print media to be acquired by Internet capital giants, but it is also an opportunity for them to find a more effective distribution path in the new environment, and to produce products that can balance user needs and news standards. product. According to Ken Doctor, author of Newsonomics, there are three keys to a media's success in digital transformation: digital revenue dominance. Revenue comes from phone number list readers (To C) not advertisers (To B) Digital revenue grows faster than print shrinks It’s interesting to say that the best-living print media in the world is actually one of the oldest media in the world, the Economist , founded in 1843 (yes, the English teacher recommends that you improve the level of memorizing words). That The Economist, or TE for short). In recent years, this magazine can be described as "the older it gets, the more demons it gets." It ignored the economic crisis and the impact of the Internet, and its circulation has grown steadily over the past decade. According to statistics, The Economist sold 1.3 million in 2007, and reached 1.4 million in 2009. The current circulation is close to 1.5 million. This data is a lot less than the circulation of "Time" at its peak of five or six million, but considering that "The Economist"'s readers are positioned as social elites, its influence is still not to be underestimated. "Fancy World" once used an amazing metaphor to analyze the differences of "The Economist": "The Economist" is like Indonesia's civet coffee, the coffee beans are swallowed and pulled out, full of exotic flavor; "Time" and "Newsweek" are like Starbucks, millions of people can enjoy it, but drink nothing Feeling refreshed. This weekly magazine (although it officially positions itself as a newspaper) is definitely a geek in the media: very few exclusive news, prefers the cover of editorial (leader), always insists on the anonymity system of articles, and never disdains it To explain professional terms to laymen, sometimes even directly citing French and Latin without translation. A model of strength. To some extent, watching The Economist has become a social status symbol. With that in mind, it has also developed a marketing strategy specifically targeting large cities in the US (half of TE's readers are in the US).
"The Economist", how to buck the trend and compete for business content media
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