Regional news is too big to create a big market 7/29/08Posted by Steve Boriss in Hyperlocal news.
Mediaweek reports that ad buyers want newspapers to reinvent their business model — a pretty difficult trick to pull-off at the same time they are shrinking newsrooms and are covered in red ink.
In the article, many of those quoted have interesting insights, including Anne Gordon, one-time managing editor of The Philadelphia Inquirer and now a partner at Dubilier & Co., a private equity firm. She says that the strategy of large regional papers to serve the whole of their sprawling markets with local news sections has been a bust. Instead, she suggests that “papers should leverage their depth of coverage by, for example, publishing e-newsletters on single topics like business or the arts.”
While I agree with Ms. Gordon that there may not be a market for regional news, why drop the idea altogether for business and the arts? Perhaps regional is just not small enough for people to see news that directly affects their lives. Hyperlocal news may be smaller, but its market is much bigger.