I am delighted to follow the reasoning of Martin Langeveld, a former newspaper publisher, who offers us an insightful and fact-filled scenario of why more newspapers need to embrace the less frequent schedule for print on their way to saving money and to sustainability.
What is Langeveld’s formula?
“Let’s wave the magic wand and convert every subscriber and single-copy buyer to a paid weekend edition (printed Friday, delivered Friday night and Saturday, on newsstands all weekend and into next week), still chock-full of preprints and display ads, plus an all-access digital package (phone app, tablet app, facsimile edition, website access), at about 40 percent of the circulation revenue.
“And let’s assume that the current Friday-Sunday editions carry 60 percent of the week’s advertising, and that all of that can be retained in the Weekend package. You could also assume some migration from Monday-Thursday ads, but let’s be conservative at 60 percent. Meanwhile, because this setup drives a lot more online pageviews as more of those daily print readers get into the digital news habit (and with some more focus on digital sales by those print-bound sales departments) we’ll assume that online revenue doubles.”
Obviously, Langeveld is making some hefty assumptions here, but I do not find them far fetched at all.
Why are not more newspapers following a less print frequency strategy today?
Inertia, says Langeveld, and I agree. The spectrum of legacy, and the fear that traditional print readers will not migrate to digital, prevail. I believe that this would not be the case and that readers will, indeed, appreciate the daily digital journey, savoring the printed weekend product even more.
And one thing Langeveld did not mention: by not publishing a printed paper daily, those in the newsrooms will be able to get into a better mind set about their notions of frequency. It is sort of putting that big elephant in the room, the one with ink all over, out of sight at least five days a week.
That, in addition to savings of up to $9–$12 billion ballpark, which is 33 to 41 percent of current costs.
Something to consider in 2015.
Previously in my blog about frequency
Frequency and style: dominant topics for mobile publishing
http://www.garciamedia.com/blog/frequency_and_style_dominant_topics_for_mobile_publishing
The question of frequency for newspapers
http://www.garciamedia.com/blog/the_question_of_frequency_for_newspapers
People Newspapers of Dallas: Change of frequency comes with a new look
http://www.garciamedia.com/blog/people_newspapers_of_dallas_change_of_frequency_new_look
Frequency: publishing in the now and later mode
http://www.garciamedia.com/blog/frequency_publishing_in_the_now_and_later_mode
Printed newspapers’ frequency: less may be best for some
http://www.garciamedia.com/blog/printed_newspapers_frequency_less_may_be_best
It’s all about frequency of publication
http://www.garciamedia.com/blog/pits_all_about_frequency_of_publication_p1
