I am also a consultant
Having spent a great deal of last year consulting for Fanista.com. I recently signed up with the Gerson Lehman Group as a consultant on media, technology and content.
As part of the GLG groups, I am asked to comment on certain news stories and trends. Asked to comment on the recent story about the LA Times intention to move to a 50/50 ad to edit ratio, and to comment in general on the cuts at the LA Times occasioned by Sam Zell's acquisition of the paper and the state of the newspaper industry, I offered up the following:
6/19/2008, 2:51 PM | Mr. Tom Teicholz - Producer and Content Consultant | Tom Teicholz Productions
Editorial cost is often the easiest to cut, and the first place new management turns to for cost savings.
However, quality editorial creates value and distinguishes product in the market place.
Publications that pay for top writers and produce a high quality product, such as The Financial Times and The New Yorker are thriving in a marketplace where others are suffering.
A depressed marketplace for content is an opportune time to invest in editorial, and recruit the best writers, reporters, editors to make a better product. Not better meaning hewing to a lofty ideal, but better in terms of reporting, scoops, service writing, and writing that grabs readers, and stories that readers talk about by the water cooler.
Excellence is a unique selling proposition.
Zell would be better advised to invest in editorial.
As part of the GLG groups, I am asked to comment on certain news stories and trends. Asked to comment on the recent story about the LA Times intention to move to a 50/50 ad to edit ratio, and to comment in general on the cuts at the LA Times occasioned by Sam Zell's acquisition of the paper and the state of the newspaper industry, I offered up the following:
The L.A. Times's Human Wrecking Ball
www.washingtonpost.com | (view article) Tech, Media, & Telecom > Media > Print > PublishingWill trimming editorial improve newspapers?
6/19/2008, 2:51 PM | Mr. Tom Teicholz - Producer and Content Consultant | Tom Teicholz Productions
Implications
Editorial cost is often the easiest to cut, and the first place new management turns to for cost savings. However, quality editorial creates value and distinguishes product in the market place. Excellence is a unique selling proposition. Publications that pay for top writers and produce a high quality product, such as The Financial Times and The New Yorker are thriving in a marketplace where others are suffering. Zell would be better advised to invest in editorial.
Analysis
The announcement by Sam Zell and the LA Times that they intend to move to a 50/50 edit to ad page ratio is the latest salvo in any attempt to cure the newspaper's ills. However, cutting editorial may not be, in the long run the best strategy.Editorial cost is often the easiest to cut, and the first place new management turns to for cost savings.
However, quality editorial creates value and distinguishes product in the market place.
Publications that pay for top writers and produce a high quality product, such as The Financial Times and The New Yorker are thriving in a marketplace where others are suffering.
A depressed marketplace for content is an opportune time to invest in editorial, and recruit the best writers, reporters, editors to make a better product. Not better meaning hewing to a lofty ideal, but better in terms of reporting, scoops, service writing, and writing that grabs readers, and stories that readers talk about by the water cooler.
Excellence is a unique selling proposition.
Zell would be better advised to invest in editorial.
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