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📮In this week’s newsletter, we wrap up our deep-dive series covering the Revenue Roadmap. Over the past few weeks, we’ve delved into the guidebook’s themes and case studies from our media cohorts and partners, tackling a variety of strategies to strengthen your media organization’s financial sustainability and innovation. Let’s take a moment to reflect on the valuable insights we’ve explored together.
The highlights of the journey
The Revenue Roadmap introduces the necessary methods and tools to raise questions, discover and identify, test and deliver the most relevant innovations and revenue diversification strategies for your media, in your market. It offers a framework for modern publishers to change the narrative, redefine how media serve audiences with relevant content and turn a profit in the process.
In the last few weeks, we’ve looked at all stages of the innovation process, from defining your value proposition to understanding and responding to your audience’s needs to developing and testing new ideas, including evaluating what tools you need to make it happen.
Let’s take a moment to recap the lessons learnt in the series:
- In two editions of the series, we talk about finding new revenue streams. First, go beyond reader-revenue models with If your audience cannot pay for news. Although direct reader support is one of the best ways to earn revenue, there are also service-based ways to monetize your audiences, and you have the expertise to offer.
- How will your product influence your bottom line or your profit margin? Back to business with the Earned-Income Roadmap, features an introduction to the 5 income-generating buckets of products and services to get you started, and 25 income strategies, from content-based to service offerings.
- When you have limited funds (as we all do), a major challenge is choosing the right tools and understanding how they will solve your usability challenges today and tomorrow. Find your perfect tech mix – to support your goals and streamline operations.
- Set up systems to turn your vision into reality by developing a roadmap and prioritizing and testing your ideas before implementation. Be ready to Navigate Crisis and find ways to adapt, innovate and pivot.
- And most importantly embrace change and explore new ideas by fostering a culture of experimentation and risk-taking within your organization.
🧩 Unlock the future of media with the Revenue Roadmap Series!🗺️ Follow our new vertical series as we explore innovative strategies to transform your editorial, technology, and business models. The series is based on the Revenue Roadmap guidebook by IPI and Report for the World, bringing together new research, new case studies and new insights from newsrooms around the globe.
>> Get the full Roadmap |
Next Step Forward
While the Revenue Roadmap series has come to an end, the Outlook will be bringing you more exciting content, every Tuesday. Stay in the loop to further support your growth and innovation:
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Stay informed & explore additional resources: Dive deeper into the topics covered in the Revenue Roadmap guidebook by checking out the IPI Media Innovation resources portfolio.
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Expand your network: Connect with like-minded professionals and join relevant platforms to exchange insights, experiences, and advice. You can start by checking out our Local News and Innovation Network.
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Share your story: We’d love to hear about your organization’s successes, challenges, and lessons learned as you implement Revenue Roadmap strategies. Share your experiences and thoughts with our team [email protected] to be featured in future newsletters!
Innovation Deck
Apply to be a Mentor / Mentee
📍Europe, on a rolling basis
The Media Innovator’s Mentorship matches journalists and media innovators to share expertise and advice on anything from media managementto audience engagement and product development.
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As a mentee, you get access to a space for mutual learning, networking and collaboration between experts and media professionals from different parts of Europe and the world. Apply to be matched with your mentor and discuss your challenges, solution approaches and best practices.
Other opportunities:
European Climate Fellowship |
BIRN: Audience-engaged journalism grants |
Global Media Competition on Labour Migration |
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| 📍Europe
Apply by October 13, 2024 |
📍Europe
Apply by November 27, 2024 |
📍Europe Apply by: October 31, 2024 |
Share your thoughts, reach out to the Media Innovation team and help us shape our media support programmes! Say hi – [email protected].
