Chartbeat’s 2019 lessons for publishers who want more subscribers

On target, by viZZZual.com, from Flickr, Some Rights Reserved

Occasionally there is an article that really stands out from all of the other media business intelligence, and today, the top story in my media newsletter today is one to bookmark. Nancy Lee, a senior product manager with Chartbeat, summarises 400 hours of research the analytics company did on subscriptions.

There is so much in this post and so many times that I was agreeing violently, but I’ll just highlight some of the points that really stood out for me.

  • Publishers’ infrastructure is still focused on advertising-led businesses and have not kept pace with the shift to reader revenue.
  • Email is still a neglected and overlooked channel for many publishers. “The energy behind email’s return is that it remains the most cost efficient way to test conversion and retention strategies. There’s little risk and plenty of reward for readers to opt-in to newsletters and other distribution lists.”
  • The point that really leapt out at me was how editorial thinking and content strategy are now being married to product thinking. And they touch on the cultural issues that can arise in that shift in thinking. That’s an entire article on its own.

This post is a great conversation starter, and it’s so economical in its communication. I will definitely be using it when we have some of these conversations in my shop.

As always, if you’re not a subscriber to the newsletter yet, click on over to my Nuzzel profile page. And if you have a story that you think should be on the site, let me know on Twitter, @kevglobal.

What a veteran journalist learned in launching and scaling a digital start-up

Business launch. An illustration of a man in business casual clothes holding a flag as he stands on a rocket. By Mohamed Hassan/pxhere.com
By Mohamed Hassan / pxhere.com

I often say that in the disrupted media businesses that journalists are all freelancers now, or to put it another, more positive way, we all have to be much more entrepreneurial than we have been in the past. That being said, making the move from being a jobbing journalist into an entrepreneur or business owner can be a major shift.

That is why the top story in my international media newsletter today is an interview with Jeff Kofman, the CEO of Trint. Jeff sums up his journey best:

As a reporter with 30 years in the field as a foreign correspondent, as a war correspondent, I just had no experience building a team, raising money, managing a company. It was an incredibly steep learning curve.

Jeff Kofman on how AI can empower newsrooms , from the Global Editors Network

The service uses AI to automate the laborious process of transcription while also adding searchability and discoverability. I like services like this because I often say that I would rather outsource tasks like this to robots rather than treat journalists like robots. It frees journalists up to add value.

The biggest challenge for media leaders is choosing where they think their journalists add value. This is important in creating a content strategy when we’re trying to determine how to make that value exchange clear so that audiences will become paying members or subscribers.

And in building his company, he has learned this important lesson: Even if you’re competing with much bigger competitors – in his world Google and Microsoft – that there is value in focusing on one task and doing that task incredibly well.

Today’s newsletter is truly international with stories from Europe, Asia and Africa. If you haven’t subscribed yet, please visit my Nuzzel profile page and click on the blue subscribe button. And if you spot a story that you think should be in the newsletter, let me know on Twitter, @kevglobal.