Just as various global media outlets face challenges from the decline in print, the New York Times bucked the trend and reported good financial results for the financial year 2014. Operating profit increased more than two fold from $16.5 million to $38.1 million, despite a fall in revenue to $383 million.
The key to the financial success, is part owed to the publication’s usage of digital media and their reaching out to digital audiences. Just four years after it switched to its metered pay model, the publication has reached 1 million digital-only subscribers. Additionally, digital advertising grew by 14.2 per cent.
As traditional media giants such as the New York Times begin shifting their focus to the digital space, it is the time for communicators to really start thinking about how to change their content strategy accordingly, to navigate the evolving media landscape.
For the time being, traditional print outlets remain fundamental and extremely relevant to gaining public attention, as readers look for detailed opinion and investigative stories. However, as more people begin using the digital space as their primary platform for sourcing news and content, it is vital to ensure that companies create press material that is not only interesting but also digital friendly. In addition to creating detailed press materials for traditional outlets, it is important to also attend to the needs of the online journalists. Short, snappy, press releases with searchable titles help win these kind of journalists.
Companies also need to ensure that press materials are mobile friendly. Earlier this week, Ofcom reported that smartphones have now surpassed laptops to become the most popular way to browse the internet in the UK. In addition to written content, easily digestible videos are bound to win the attention of mobile audiences. For companies, that means it becomes vital to have spokespeople that ooze charm in front of the camera whilst re-iterating their key messages. News outlets such as the Financial Times and Wall Street Journal are increasing their use of video stories and this trend is likely to continue so whether you are a CEO of a FTSE 100 or an exciting start-up consider your digital presence more than ever!