Fairtfax

Why is Whaleoil soaring and the MSM just holding on? See if you can work it out

…Publishers and editors have only themselves to blame for failing to connect with the Millennial generation that they ? and most of their advertisers ? covet the most.

The inability of newspapers to resonate with digital natives has left them with a daunting demographic challenge. Two-thirds of the audience at the typical newspaper is composed of people over the age of 55, according to Greg Harmon of Borrell Associates. ?The newspaper audience ages another year every year,? he adds. ?Everyone?s hair ought to be on fire.?

As the newspaper audience grays, the readers that newspapers ? and most of their advertisers ? would like to have are, instead, busily racking up page views [elsewhere].

In a recent study, researchers at the University of Missouri reported that only 29% of newspaper publishers conducted focus groups prior to putting paywalls around the digital products that most profess to be the future of their franchises.

Instead of talking with their intended consumers, fully 85% of respondents to the survey said they asked other publishers what they thought about erecting barriers around the content that they had been freely providing for the better part of two decades.

While paywalls boosted revenues at most newspapers because they were accompanied by stiff increases in print subscription rates, the tactic gave the growing population of digital natives ? and non-readers of every other age ? the best reason yet for not engaging with newspapers.

Of course, newspapers were losing Millenials well before they started feverishly erecting paywalls in the last few years. But what if publishers and editors had begun studying the needs and attitudes of the emerging generation from the early days of the Millenium? Could the outcomes have been more positive?

In the interests of tuning into the thinking of those elusive twenty- and thirty-somethings, a newspaper client recently brought a panel of them to a strategy session. Here is what we learned: Read more »