Why it matters
At a time when print ad revenues are declining, media owners are looking to raise a greater portion of revenues directly from readers, and lower their dependence on advertisers
- Ten years ago, the majority (54%) of the Chronicle’s revenues came from print advertising; this is now down to 18%, with its ‘consumer business’ now accounting for nearly two-thirds of revenues.
- Publishers – and particularly local media owners – must maintain a physical presence in communities to retain relevancy. Events are a good way to achieve this, and also help to develop the relationship between journalists and readers.
- The Chronicle plans to develop relationships with ‘disengaged’ Silicon Valley tech companies with a new B2B ‘membership’ programme offering access to content, ad products and on-site editorial events.
As local markets go, San Francisco isn’t a bad one: it ranks first place in the US in the number of owner-occupied households valued at $1m or more, and also takes the top spot for households with a combined income of $500,000 or more.