Adam Burnham Talks About the Future of Multi-Media Publishing
What are the top challenges and/or obstacles for publishers as they work to transition from print only to multi-media publishing?
The economics of the business are in a constant state of transition. The classified business has retracted to become a small minority of revenue for publishers and the future of legals and preprints are in question now. Publishers have to be ready to adapt their business to what their audience and to what their advertisers want. I am in no way suggesting print will disappear; as I do not think that will be the case. But it will be a different business. I fear those who are unwilling to adapt may not survive.
What ideas or approaches have you seen work to ease this transition?
The good news is there are a number of companies taking very innovative steps and trying new things. That is the best practical approach because, if any one company had it figured out, everyone else would be copying the model. But at the core, you have to sell advertisers things they want to buy. I believe those publishers that are constantly feeding the sales organization new products and platforms, and are willing to find success through experimentation with a fail fast mentality, will be the most successful. I typically find the smaller the company, the more fluid and dynamic it can be. The digital agency concept is sweeping the publishing business but few are fully committed to it. Companies need to start thinking about what they are today and envision what they will be tomorrow. Then they should build plans accordingly.