On Tuesday, May 5th, I will moderate a Webinar that will cover expanding revenue streams for media companies. The goal of this event is to provide an introduction in advance of the Winning Media Strategies conference to some practical strategies for the local media ecosystem.
Clearly, the economic downturn / recession has adversely impacted many in broadcast and print media. No one has been immune from the challenges created by declining advertising dollars and viewership. When you look ahead – the next several years the advertising pie is expected to decrease. With so many new media companies and devices emerging, radio, tv and newspaper companies will be fighting for market share rather than trying to grow overall ad revenues.
In order for media companies to grow their business during this period, their company must develop multiplatform strategies to diversify their business models and build multiple revenue streams. This is made tougher by the necessary response to the tight ad market in terms of budget cutting, employee reductions and less tolerance for risk taking.
In addition to steps a media company can take, this webinar will present some revenue forecasts by media platform; best management practices and case studies. The speakers are first rate, and include:
Rick Ducey, Chief Strategy Officer, BIA Advisory Services
Daniel Anstandig, President, McVay New Media
Erik Hellum, President, GAPWEST, GAP Broadcasting