Raju Narisetti is the managing editor of the Wall Street Journal’s digital network. In an interview with TheMediaBriefing, he talked innovation in digital publishing. Here are the highlights:
On bad strategy:
One mistake people have made – with the exception of people like the Wall Street Journal – is the idea that if you grow audiences and grow enough critical mass of audience that the advertising will come and the revenue will grow proportionally.
That hasn’t panned out at all. Even though some media companies have done well from that mass of eyeballs they’ve not been able to monetise it. That means that whatever you say about the print business it remains the majority of revenue and in some cases profits, or losses.
On short-term thinking:
…a lot of decisions tend to be made by publishing execs who have a much shorter personal horizon – so as a result have a lot at stake over the next five or ten years, because of their retirement or profit share. That’s had a significant impact on media business models and it’s still happening. I don’t see anyone who’s making 10 or 15 year bets and taking short-term hits to make them happen.
On content creation:
Content creation ought to be a single multiplatform group. But content management ought to be specialised. I get very irritated when people say they are platform-agnostic, because each platform is a very different opportunity to create a different experience.
Journalists working to fill a page of news print is inside-out thinking. You have to say, where is our audience and where are they consuming our content?