It’s not news that digital technology is driving rapidly changing consumer behaviour, and while it took some time for that shift to affect the economics of the media, the disruption is now in full swing. While the metered paywall has given a number of legacy media companies breathing room, to use the bump in reader revenue as a base to build on rather than a temporary reprieve from the dust heap of history will take focused, innovative thinking.
I’ve been involved in journalism innovation since 1996, when I took my first job as an internet news editor. I’ve held pioneering positions at major news organisations such as the BBC and The Guardian. Both of those organisations can be innovative in ways that have proven difficult for other media organisations because they aren’t purely commercial. How do other news organisations keep pace with their audience and just as importantly create new revenue opportunities?
Charles Warner, part of the Forbes network teaches Media Management Program at The New School, was recently asked how to drive innovation at an “old-line media company, and he thinks it is down to the individualistic culture at legacy media organisations.
Finally, success in legacy media companies (newspapers, magazines, TV, and radio) is driven by individual success – stardom – not by collaborative team success. The internecine, hand-to-hand combat inside legacy media companies is about who gets the credit for a hit or success, not about innovation or team success.
I’ve seen this first hand, and I used to say to colleagues, “Our real competition isn’t down the hall but across town” at one of the other newspapers, broadcasters or now one of the digital news and media startups.
This isn’t unique to media companies. Office politics is pretty universal. One of the benefits of having done consulting both inside and outside the media industry is that I have realised that positive corporate culture is rare and needs a lot of work. In media, you’ve got a lot of creative people, and journalism is populated with professional sceptics who question everything, including management’s latest change strategy.
However, that doesn’t excuse just how frankly, effed up the culture is at a lot of news and media companies. In the past, when owning a media company was a licence to mint money, we could afford these poisonous, dysfunctional cultures. We can’t anymore, and besides, it’s a lot more satisfying to succeed as a team than fight amongst ourselves on the decks of sinking ships.