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Newspapers diversify revenue streams through digitalization

From Nasdaq

The U.S. newspaper publishing industry is no longer restricted to print. This is largely because rampant technological advancements have opened up multiple ways in which the industry can reach its target audience. That said, it is increasingly becoming obvious that newspaper companies cannot solely rely on print or digital advertising but need to diversify their revenue streams focusing on video content, events and paid-for-products.

The outcome of this approach is hinged on how effectively newspaper companies make the most of the growing use of Internet as a medium to reach business-to-business and business-to-consumer markets.

Newspaper companies are altering their business models to gain an edge in the current multi-platform media environment, as people now stay updated about current affairs via smartphones, social media and other interactive platforms. For this reason, companies are focusing on creating content for mobile devices, online advertising based on user experience and personalized content to lower their dependence on traditional advertising business.

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