"About the future of media", Alf Lande, Lac 2.0 AS
29 May 2015•0 j'aime
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This is a presentation about opportunities and challenges in the media sector. Held by Alf Lande, Lac 2.0 AS, at the conference Oslo Content Marketing Camp, May 20., 2015 - at Rockefeller Music Hall.
Q1. What are the changes media industry experiencing today?
Q4. How media companies can leverage content marketing to create a next generation media company?
Q5. Key takeaways
Q3. Why content marketing is important and media players must give it a glance?
Q2. What are the modern solutions that players worldwide are adopting?
About Speech
Key questions that are going to be addressed through the speech
Media Industry Dramatic Shift
Media companies have to fundamentally understand below paradigm shifts and respond with creativity,
optimism and joy, in order to sustain in the industry
Classical channels experiencing
obsolescence
Consumers are consuming less content through these channels
1
3
2
4
Advertisers significantly less
dependent on classical media channels
to reach out to consumers
Classical model solely basing its
priorities on editor-centric-priorities is
losing effectiveness
Consumers are demanding
responsiveness to their high and low
interest areas - uniqueness and
personalization
Consumers are responding less to editors’ choices and
recommendation
Content personalization and uniqueness are becoming winning
formulae to success
Emerging favorites among advertisers
New options in
ecommerce
01
Media industry experimenting with various solutions
Sophisticated
paywalls
02
Powerful
programmatic
advertising arriving
03
Advanced analytics
field is exploding –
Big Data
04
Sophisticated
recommendation
technologies
05
Cloud makes it easer
to go global fast
06
Location based
targeting opens
digital for local
businesses
07
Social media
maturing and gives
traction to self
publishers
08
Mobile and video
first. Richer Formats
– Videos, Podcasts
09
Content Marketing -
Advanced usage of Native and
Content Marketing
10
Create and distribute content and
improve operational efficiency
Grow revenues
Acquire new customers
Build customer loyalty and lower
attrition
Powerful fascinating new tools are becoming available to publishers
Globally, media players are experimenting with various solutions, striving to find the best solution for their business
Drivers propelling content marketing [1/2]
Declining content cost and widening digital presence are opening new avenues for media players to look into
Low cost aggregating
technologies
1
Freelance journalism
portals
2
Less expensive social
media marketing
Low cost recommendation
technologies
4
Declining digital
experimentation cost
Declining content production
and marketing cost
Drivers
3
5
Large devise base –
smartphones,
Tablet, PC,
wearables etc.
1
Richer and
interactive formats
– videos, podcasts,
gamification
2
Widening digital presence
Drivers propelling content marketing [2/2]
Advanced tools and changing advertiser’s expectations towards quality content are opening new business
opportunities for media players
Granulated
consumer insights
1
Location based
targeting
2
Technology and big
Data analytics to
personalize content
3
Sophisticated tools
to measure real time
performance
Enhanced measurement tools
Drivers
4
Demand for quality, trustworthy, and
engaging content
1
Changing advertisers/brands expectation
Key elements to a successful content marketing
Key takeaways of successes and failures of various studies emphasize on following
Interactive User Interface
1
2 Personalization
Social Media and Analytics 3
Sharing
4
• The sharing economy is imperative for media companies to
embrace to acquire more customers
• Develop well designed customer journey, along with simple,
engaging, entertaining and intuitive user experiences to
increase customer’s engagement
• Create unique, exclusive and valuable content
matching customers’ high interest areas to attract
and retain customers
• Use social media and analytics to get insights into
their consumers’ likes and dislikes, and identify
opinion leaders and fascinating voices to produce
relevant content
Impact on Key Areas
Topline (Revenue/Sale)
Operational Efficiency
Product Innovation
Business Development
Media Company Key Functional
Areas
Content Production /
Curation
Revenue
Customer
Acquisition
Customer
Retention
Editorial department Business Department Customer Department
Content Marketing Model for a Media Company
Content Marketing offers a lot of possibilities for media players to build a next generation media company
Freelance Journalism
Content Aggregating
Technologies
Content Licensing Technologies
Native Advertising
Content Production for Brands
Social Media
Recommendation Engines
Big Data and Analytics
Live Events
Key Functional
Areas
Content Marketing
Solutions
Scenario 1: Content Production / Curation
Hypothesis: Media companies can use content marketing to improve their operationalefficiency in
content production and reduce their content production cost
Media companies are struggling to provide personalized content or content close to customer’s high interestProblem
Opportunities/Solutions
Freelance Journalism Portals
01
Content Aggregating Technologies
02
Content Licensing Technologies
03
Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development
Low Medium High Low Medium High Low Medium High Low Medium High
Inference – Impact on Key Areas
Problem
Opportunities/Solutions
Native Advertising
01
Content Production for
Advertisers
02
Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development
Low Medium High Low Medium High Low Medium High Low Medium High
Scenario 2: Revenue Diversification
Hypothesis: Media companies can leverage their content production expertise to create content for others and
diversify into new business segment
Media companies are struggling with declining revenues and need to think of new avenues of growth
Inference – Impact on Key Areas
Problem
Opportunities/Solutions
Social Media
01
Recommendation Engines
02
Big Data and Analytics
03
Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development
Low Medium High Low Medium High Low Medium High Low Medium High
Scenario 3: Customer Acquisition
Hypothesis: Media companies can use content marketing to increase web traffic on their website or
promote their content to acquire more customers
Media companies are struggling to acquire consumers / web traffic. Players are struggling to target optimal marketing
channels to promote content
Inference – Impact on Key Areas
Problem
Opportunities/Solutions
Live Events
01
Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development
Low Medium High Low Medium High Low Medium High Low Medium High
Scenario 4: Customer retention and Loyalty
Hypothesis: Media companies can use content marketing to build relationship with their
existing consumers as an exercise to build loyalty and brand awareness
Media companies are struggling to build customer loyalty and retain customers
Inference – Impact on Key Areas
01
Media companies have to understand that industry is witnessing a fundamental change, and to survive they have to respondwith
creativity, optimism and joy
04
To create a robust business model, media companies have to focus on sharing, personalization, social media, analytics and interactive
user interface
03
Content marketing offers an opportunity for publishers to create an innovative business model that can be used to grow their revenues
and lower their cost
02 Publishers have rich and fascinating modern tools that they can leverage to create a compelling next generation media business
Conclusion
Notes de l'éditeur
Notes:
Content Production Cost: The current cost of creating the same piece of content as compared to fifteen years back has fallen at least 2/3 times
Notes:
Content Production Cost: The current cost of creating the same piece of content as compared to fifteen years back has fallen at least 2/3 times
Players in Market for below mentioned services:
Freelance Journalism Portals – Bylineme, Contently, Constantcontent
Content Aggregating Technologies – Taboola, Outbrain, Yahoo
Content Licensing Technologies – Newscred
Case Studies:
Time Inc. –
Time Inc. signed an USD 100 million revenue deal with Outbrain
The deal would help Time Inc. to bring external content to its platform and earn advertisement revenue
ESPN –
ESPN has signed a two-year deal with content recommendation platform Outbrain
Case Studies:
The New York Times –
The New York Times launched T Brand Studio to focus on native advertisements
The studio consists of 16 people staff
Performance: Times sold USD 18 million in native advertising in 2014
The Onion –
The Onion launched Onion labs, a full-service advertising agency that operates in-house
Performance: The lab is responsible for 81 percent of Onion Inc.'s total revenue, generating revenue through sponsored content
BuzzFeed –
BuzzFeed is among the pioneers of Native Advertisement and sponsored content
According to the company, native advertising brings around USD 60 million in 2013 and 85 million unique visitors monthly
Quartz –
Started in 2012, Quartz completely drives it revenue from native advertisements
It has more than 90 advertisers working with and is expected to grow at 250% in the first quarter in 2015 as compared to same period last year
Players in Market for below mentioned services:
Social Media – Facebook, Twitter
Content Aggregating Technologies – Taboola, Outbrain, Yahoo
Case Studies:
Netflix –
Netflix using data to analyze consumer interest to acquire customers
It cre
Financial Times -
Financial times has a strong social media presence
Performance: In 2014, the company reported that the number of new subscribers who came from social media referrals increase by 165%
Conde Nast -
Condé Nast began uses ZergNet recommendation engine and credits it for increasing monthly traffic on its websites by the hundreds of thousands of new visitors
Case Studies
BBC –
BBC has created a separate business unit BBC Worldwide’s live events
The unit is responsible to organize popular events such as – motoring theater show, concerts and tours
Top Gear Festivals are unique events created for those with a passion for Top Gear and motoring in general
The festival format enables visitors to enjoy a full day of motoring entertainment such as absurd stunts and presenter challenges