Graeme Newell –the president and founder of 602 communications– is a consultant “who shows cable and broadcast teams how to effectively market and tease their shows.” We’re talking TV here but his ideas for increasing revenue from news websites apply equally well to all media.
Most broadcast web sites are money pits. Still, there are a lot of companies making serious money on the web. These are entrepreneurial pirates who have a bloodhound’s ability to sniff out revenue models that actually work. All of these moneymaking sites share some common traits and business characteristics.
Lesson #1 – Web moneymakers are entrepreneurs, not businessmen.
Lesson #2 – Businesses making money on the web are typically small.
Lesson #3 – A 30 year old is considered ancient.
Lesson #4 – Moneymaking web sites focus on niche content.
If one of the Learfield Grownups called me in tomorrow and asked me for a strategy to make money with our news websites… I would point them to Mr. Newell’s lesson plan.
I searched (in vein) for his article on the 602 COMMUNICATIONS website. I hope Mr. Newell doesn’t mind me posting it (after the jump). Emphasis (bold) is mine. [Thanks, Bob Priddy]
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