Crowd at concert

Traditional media companies have struggled for years with the paradox of trading “print dollars and digital dimes” — as online ads struggled to replace the revenue being lost in the shift away from the offline, many publishers continued to invest in print because that’s where the money still seemed to be. But a decade into newspapers’ precipitous decline, it’s become clear that if publishers are still dealing with “digital dimes,” there is an urgent need to diversify into other revenue streams that can supplement the bottom line.

At Borrell Associates’ annual Local Online Advertising Conference earlier this week in New York, several speakers touted local live events — from awards shows, to beer tastings, to road races — as a potentially lucrative revenue stream with sizable margins, and suggested that newspapers and other traditional media companies were well poised to extend their brands into the event space.

Local Media Association president Nancy Lane told the audience that her

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Source: Street Fight