Why So Many Media Companies Stumble Globally
Here is an article from advertising age pretty interesting about the importance of being local and specialized even more when you want to be global. A topic that’s worth a lot to ATCNA!
Success Requires Perfect Alchemy of Local Appeal and International Reach. But running a global news business requires a tricky combination of international brand appeal, regional relevance and subject expertise that both travels and translates. The few news brands that have succeeded, to greater or lesser degrees, arguably include CNN, Bloomberg, People, Thomson Reuters, The Wall Street Journal, The New York Times, The Financial Times and The Economist.
Other contenders are the Associated Press, the BBC, ABC, NBC, maybe CBS, National Public Radio, News Corp. and the top U.K. dailies, said Ken Doctor, the newspaper veteran who’s now an analyst at Outsell. “If a news-media organization sees itself as covering the wider world, sees it as its foundation, that in and of itself differentiates it from all the local media — newspapers, TV, radio — out there,” he said. “If, in addition, it has substantial reporting and editing resources, then it can play. The tough part is the part we’re in: Who wins the race to ubiquity and can make it pay off?”
Those that do tend to transcend corporate, political and local agendas; cover locally but market regionally; stick with marketing their media brand for the long term and devote enough financial resource to fund a strong sales force and newsgathering team. One important factor is to have enough flexibility to be interpreted appropriately in each market, said Charlene Solomon and Michael Schell, authors of “Managing Across Cultures: The Seven Keys to Doing Business With a Global Mind-Set.” “One of the reasons there are so few global media outlets is because typically media is developed for local tastes,”.