- Digital Media Products, Strategy and Innovation by Kevin Anderson
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- The Defector (and Spotify) show revenue growth from podcasts PLUS The News Movement looks to double staff and expand to the US
The Defector (and Spotify) show revenue growth from podcasts PLUS The News Movement looks to double staff and expand to the US
Much of my work over the past decade has been focused on marrying content and revenue innovation whereas up until then had been focused solely on editorial innovation. It became clear to me that without adding revenue and working across the boundaries of commercial, editorial and technical teams, that editorial innovation alone would not be sufficient to sustain businesses in the face of both the shifts in consumer behaviour and also the shifts in monetising attention. Or put more bluntly, Google and Facebook had developed much more effective advertising models, at least as far as most advertisers were concerned.
That is why I highlight this piece about Defector using podcasts to gain subscribers. Podcast advertising will probably be captured by the major producers and platforms, but podcasts can still be a gateway to subscriber acquisition.
And due to the role of platforms in the podcasting space is also why I highlight the growing revenue that Spotify is banking due to podcasts. However, it's important to note that higher revenue doesn't mean a profit, which is often something that is glossed over. They have splashed out more than $1bn on their podcast strategy, and they expect to see a return on that investment in the form of profits in the next year or two.
The other stories today highlight other shifts in media. LinkedIn continues to develop its content efforts, especially for 'creators', which in a business context is less about being an influencer and more about being influential and marketing one's business. They have added audio features and new audience development tools. LinkedIn was just nagging me about posting more things. Soon, LinkedIn. Soon.
The BBC's former editorial director Kamal Ahmed's The News Movement is looking to double its staff - don't get too excited. It will grow to a heady 16 people. But what is interesting is that he is looking to expand to the US. As an American who has spent most of my career working for British firms, I am always intrigued about British media expanding into the US. Yes, it's a large market, but it's also competitive in ways that Brits sometimes underestimate.
PLUS The other changes. NewsQuest - Gannett's UK arm - boosted profits while cutting positions. And in the US, Gannett is cutting editorial pages. (That was part of a long trend at Gannett.) Zenith has downgraded its ad outlook globally, but the US should hold up pretty well. And media watchers in the US are buzzing over social media conflict at the Washington Post.
Spotify Brought in €200M in 2021 Podcast Revenue, Dawn Ostroff Says – The Hollywood Reporter — www.hollywoodreporter.com
Spotify brought in "close to" €200 million, or roughly $215 million, in podcast revenue last year, according to Dawn Ostroff.
You didn’t hear this from me, but Defector is getting a subscriber boost from its podcast Normal Gossip | Nieman Journalism Lab — www.niemanlab.org
The sports and culture website earns 95% of its revenue from subscriptions. When Normal Gossip launched paid subscriptions last month, the podcast gave Defector its biggest one-week increase in more than a year.
LinkedIn Adds New Elements to 'Creator Mode' Including Audio Events and New Audience Growth Opportunities | Social Media Today — www.socialmediatoday.com
Social Media Today
Alex MacCallum, CNN's interim digital chief and a top architect of the now-scuttled CNN+, is leaving the news operation
Kamal Ahmed’s The News Movement doubles editorial staff with eye on original investigations — pressgazette.co.uk
Press Gazette has been reporting on British journalism without fear or favour since 1965. Our mission is to provide a news and information service which helps the UK journalism.
Zenith Issues 'Minor Downgrade' To Global Ad Outlook, U.S. Remains Unchanged - 06/08/2022
Press Gazette has been reporting on British journalism without fear or favour since 1965. Our mission is to provide a news and information service which helps the UK journalism.
The 250-title chain will largely cut back opinion to a few days a week and refocus opinion on community dialogue.
Food52 employees hit with another sweeping round of layoffs and reduced hours amid economic downturn - Digiday — digiday.com
Food52 has let go of another 21 employees across the company, accounting for 15% of staff, while other employees are getting their work hours reduced.
A flurry of Twitter flare-ups and Slack spats involving ‘Post’ journalists, along with a controversial suspension, have upended the newsroom and are presenting a major test for executive editor Sally Buzbee, who urged staff Tuesday to “be constructive and collegial.”
The controversy currently swirling around The Washington Post doesn’t go back days. It goes back years.