In short --- old school publishers are leaving a bundle of money on the table! Let's talk about why and what can be done to correct old school publishing's dwindling profit margins.
Key excerpts from tonights resource article:
"While many believe that publishing is dead, there is more opportunity now than in Luce’s time. While it took him decades to build his empire, Huffington Post and Bleacher Report created hundreds of millions of dollars of value in just a few short years. The real problems old-line publishers face today are not ones of talent or even technology, but culture."
"In the final analysis, the challenges of the publishing industry are not so much economic or technological as they are cultural. It’s not technology that publishers need to conquer, but their own organizations."
"Every media market is different, but some principles are universal. Perhaps the most significant of these has been the press-TV tradeoff, which is the starting point for understanding the media economics of any given place. The stronger the TV ad market is, the weaker the press market will be and vice versa."
"The situation of the publishing business is by no means unique, eventually all business models fail. Unfortunately, publishing executives who built their careers on selling ad pages and pushing rates are often unwilling to accept that the economics of digital are fundamentally different than print. That has to change."
Greg Satell, contributed this to Forbes magazine: