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- Tuesday 28th July: With limitless audiences, will events ever be the same again?
Tuesday 28th July: With limitless audiences, will events ever be the same again?
Morning! Today's Media Roundup has been put together by Esther.
“We can sell infinite tickets to a global audience”: How publishers can create engagement, build brands and generate revenue through virtual events — whatsnewinpublishing.com
Some impressive numbers here from publishers who are attracting many times the number of people to virtual events as they ever had to physical ones. Virtual events can be planned quickly, speakers can dial in from anywhere, and the audience is theoretically limitless.
The pricing power may be lower, but there's no cap on seats or resources that physical events have. Many publishers now are grappling with the right blend of money from audiences and sponsors, and it's encouraging to see sponsors really warm up to the potential of virtual events in a number of these examples.
However - and whenever - physical events return, it is clear that they will never be the same again. "Media brands will be keen to keep hold of the new audiences and global reach they have acquired during the past couple of months," the piece notes. "After all, if online events have been a success, why stop now?"
As Thomas Baekdal pointed out, this is most likely less a case of teens turning to Instagram for news, and more "turning to Instagram for other things and coming across news by accident". Apparently just 17% of yoof use newspapers to access information, but I suspect that's more to do with being less interested in news at their age rather than suddenly preferring to find it on the socials.
In what we'll call an 'insanely brave' move, The Local Media Consortium, an alliance of local media companies who produce 90% of local news and sports journalism in the US have launched The Matchup, a collaborative online sports platform. While it's great to see local news outlets collaborating on sports journalism and hopefully it will allow them to compete with top sports publishers, has anyone else noticed sports is not exactly the best space to be in right now...?
This nostalgic piece from Colin Morrison looks at some of the magazine greats from the boom years - 1960-2000 - when the industry was "bursting with choice, colour, daring thoughts and fresh ideas." I think it's worth pointing out that the industry is still packed with brilliance and innovation (and women leading the charge!) So this recommendation is more for Colin's take on the entrepreneurs and less for the nostalgic look at people who made it when mags were flush with cash.
This week's episode:
The Conversation UK's chief executive Chris Waiting on building community around expertise — voices.media
This week Chris Waiting, chief executive of The Conversation UK, tells us about the lessons his team is taking forward from its record-breaking corona coverage, why newsletters and live events are its focus for the near future, and what other news publishers can learn from its policy of marrying journalistic flair with scholarly insight.
My sign-off note is this gorgeous picture of two fairy penguins hugging each other while looking out at the Melbourne skyline. The penguins are both widowed and meet regularly to watch the lights of the city nearby, according to photographer @tobiasvisuals. I needed this today, so am passing it on in case you do too.