Beijing Youth Daily has 500,000 copies everyday. But the figure is shrinking. It is natural. We face big challenges from the online media. But maybe we could find some way to reach our readers and continue building our brands.
I consider IPad could be one new platform, Social media that this article mentioned could be another one. Maybe we could ask all the staff setting up their own blog, facebook and twitter (Chinese alternative), or maybe we could set up our inner social network.
The main point is, although the figure is shrinking, our brand could be more active. Beijing Youth Daily does not represent sunset industry, but represent the Youth forever.
Old Media Must Deliver Digital Experiences Consumers Demand
What is the new reality for dealing with a digital world? If content is king, then there’s a new emperor in town: the digital experience. The business of selling content has now become the business of delivering audiences.
From location-based Google apps to RIM’s Blackberry always on device, the consumer appetite for anytime, anywhere access to digital content continues to grow and change at a staggering pace. As consumers continue to enhance and replace traditional media consumption with digital experiences, incumbent media companies face an enormous challenge and at the same time a tremendous opportunity.
Digital services growth has not offset the value lost in traditional media, and many companies are struggling to replace rapidly declining traditional revenue with an equivalent value from digital media.
At the same time part of the challenge is also the potential value shift and who get to keep the revenue generated.
To overcome this gap, media companies need to build stronger engaging relationships with consumers to enhance the digital consumer experience by embracing new distribution platforms and expanding & alternative revenue models.
Some organizations are already doing this. For the first time in Emmy history, NBC Universal incorporated a social media platform, Twitter, into the show. According to SocialMention.com, the term Emmy Awards was mentioned on a website or blog every 15 seconds during and immediately after the telecast. This demonstrates how networks can create their own volume of social media activity that, in turn, becomes a new form of impression marketing. Now, millions of Twitter users around the world know about Modern Family and will likely want to learn more about it.
Additionally, the Weather Channel used Twitter during recent coverage of Hurricane Earl when a reporter lost the satellite feed in the middle of his live broadcast.
These examples show a new phenomenon: media companies leveraging the openness of social media to build consumer trust by offering content and messaging that is relevant, rapid and integrated. Although the cannibalization of the traditional media industry continues there are geographic and demographic shifts which could provide key footholds for media firms looking to survive and thrive.
A new study indicates that online content adoption has mainstreamed, and although those age 18 to 24 are still in the forefront, older audiences are following in substantial numbers. Disproving previous assumptions that older audiences would continue to utilize traditional services, U.S. online growth in 2009 for most categories was driven by older audiences, resulting in a more even usage distribution across age groups, particularly for services like social networking and online news.
To successfully create the connected consumer experience, media companies must embrace and optimize new distribution platforms to deliver content wherever, whenever and in whatever format consumers desire.
Regardless of strategy, media companies must recognize that today’s digital world requires ongoing change and dealing with increased fragmentation. “One size fits all” will no longer suffice. Consumers desire and expect revenue models that offer relevancy, choice and integration.
To sustain and grow, media companies must get serious about change and develop the capabilities they need to extend and continually enhance the consumer experience. They can do so by focusing on the cross platform experience, embracing new distribution platforms and expanding revenue models.