Publishers do have lots of content, but a) there are lots of publishers (including online-only ones who have never put ink on paper in their lives) and b) there are lots of websites built purely to be packed with content to attract searching readers. (hint, they’re not called ’content farms’ for nothing). You’re competing against the other publishers for subscription and product revenues, and competing against the whole internet for advertising money (oh, and as Paul Conley explains, a lot of your advertisers are now using ‘content’ to go direct to consumers themselves). Someone will always be able to produce ‘content’ cheaper than you and get the eyeballs on it more cheaply than you can, and these ‘someones’ will be – and are – driving down the CPMs that volume advertisers will pay. (Chasing this revenue leads to what Breunig calls the ‘content crunch’, a downward spiral of cheaper content and lower revenues.)
A neat summary of the battle for attention and its casualties.
It’s interesting to note that all of the full time jobs I’ve been in discussions about – and the vast majority of contracting work, too – have been around organisations producing content to talk to their customers and partners direct, and not in the journalism business. I think that shows where the growth is right now…
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