The discussion in the report shows that advertising and increase in access, to a certain extent, are directly related. The primary source of revenue for the newspapers is subscription by users and advertisers. Hence, companies cannot neglect both considering and these factors.
Some of the conclusions that can be drawn are
Considering online and physical as completely different segments
Strategies can bring the print newspaper out of the issues that are there and
All the electronic media i.e. laptop, mobile phones and tablets have to be considered in the strategy.
Suggestions and best practices to increase the readership and revenue from advertisement have been discussed in the report.
Attracting Visitors to Websites
‘The New York Times’ has also targeted users from outside USA by translating handful stories into European languages such as Spanish which is published on its website and social media pages. The newspaper is also trying to reach users in Asian countries, specifically China. This has enabled to bring in more visitors and at the same time encourage users in America who belong to these places. Lastly, as discussed in one of the study (Sondeen, 2009), the preference of youngsters is different from older readers. The target customer has to be identified in order to ensure increase in readership. This is because the content of the newspaper has to be prepared accordingly.
Based on the above discussion it can be said that the electronic media has posed huge challenges and impacted the sales of newspapers but identifying the core competencies and the target customers can be quite beneficial for the newspapers in the long run. The newspaper publishing is bound to undergo change but strategic changes can certainly provide the ways to remain competitive and sustain in the business.
Challenges in Advertising
Advertising has been the other strong pillar of the revenue source of newspapers. This section of the report highlights the methods employed to attract advertisers for display advertising in newspapers, earning revenues from websites and ways to attract ‘classified’ advertising for both its newspapers and websites.