By Matthew Boyle | mboyle@flagler.edu
The first step in developing a successful online or new media advertising revenue model is to build an audience. Why should it be any different than how traditional media stream revenue?
A print newspaper’s ad sales staff will present readership and subscription numbers and statistics to potential advertisers and a broadcast venue’s ad sales staff will present viewer and ratings numbers and statistics to potential advertisers. Both systems seemed to have worked pretty well in the past, right?
Web media should do the same. Editorial operators should be building web audiences to present to potential advertisers. It isn’t much different than old media. Actually, it’s exactly the same. When online news content quality starts improving, so will readership and ad sales revenue.
To make money, web publishers need to look to reporters and editors with the highest journalistic standards and strongest reporting and writing skills to keep regular readers coming back. Then, those web publishers can take that audience and market it to community advertisers, just like a tradition media outlet, like a newspaper, radio station or television station.
On the other hand, however, if online news content quality starts suffering, expect readership numbers to decline as well as advertising revenues.
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