The timely topic of Moving from Print to Digital and how to Manage the Economics of That Shift is the focus of a new report that FIPP has published in partnership with Mather Economics. It can be downloaded here.
The Economics of Media Change: From Print to Digital provides an overview of the theory and practical examples of how to implement this process every day.
“Agility is probably the most important thing that management team can have now in the media business,” James Hewes, President and CEO of FIPP points out in the report. “There are no sacred cows – you can’t say that this is the way we do things.
“Balancing the old and the new, the existing and the potential, is a really important feature of management. In the media industry, the most obvious example is the distinction between digital and print. Your print business is going to be declining in most of its revenue streams – you might have had a bounce with the print subscriptions during the pandemic, but in general, your business is going to be declining.
“So, what do you do? The business is managed for its value. You are not responsible for making it profitable. Your digital businesses will be growing. You take the profits from legacy business and invest those into the new areas.”