Challenges faced by Publishers
Both circulation and advertising in print media continue to decline. In 2015, daily newspapers and magazines still had large circulations; however, the average daily use of traditional print media has dropped to only a few minutes. The use of digital content in contrast has grown rapidly and is forecast to continue growing in the coming years. Consequently, the relevance of digital advertising as a source of revenue increases significantly – mainly in the areas of search, mobile advertising, video advertising and content marketing. This puts publishers under tremendous pressure to act.
In addition to their traditional business, publishers need to drive the development of new digital business models as well as the expansion of their portfolio in digital, increasingly mobile forms of advertising, with less waste and direct response channels. In a dynamic market environment, media companies are forced to diversify their sources of revenue and to face competitors that are located in other industries. Providers like Amazon or business networks like Xing or LinkedIn are entering into direct competition with publishing companies. Xing, for example, has been offering news pages for specialist publications in addition to its industry news since February 2015, providing additional value to its users.
New requirements, new opportunities
The most significant learning from the developments in recent years is that content alone is no longer the key to success. What it takes is technical know-how and, above all, a much more intense relationship with users compared to the past. Comprehensive data analysis and data-driven marketing form the analytical basis for fast and rational decisions. However, user and use case centric business models must clearly go beyond the publishing industry’s traditional information provision and information processing models.
All in all, the developments and trends in technology and media usage provide a variety of opportunities for the publishing industry to conquer new business areas and to develop innovative business models.
Our range of services for digital media
GP+S supports numerous companies in the media and publishing industries through market analysis, process and technology consulting as well as strategic development and quantification of business models. Our range of services includes:
- Market, customer and competitor analysis
- Product/portfolio development
- Optimization of digital revenue models
- Business model development
- Technology consulting/vendor selection
GP+S combines many years of project experience with strong industry and technology expertise in the media and publishing industry. Due to the dynamic nature of this industry, trends and technologies are essential to achieving competitive advantage. We keep our knowledge up-to-date, and through a Digital Trend Analysis, GP+S regularly aggregates and consolidates market changes on the basis of a range of studies, expert opinions and market observations. This analysis is used to generate a clearly structured and easy-to-read trend report about the current digital topics and their further development in the coming years.