lessons learned while building the fastest growing media family city digital
DESCRIPTION
Lessons I have learned while building the fastest growing media family in Finland. Digitalization is then new standard. Bloggers and models will be new media stars. Media fragmentation creates new business mo Ilkka O. Lavas serial entrepreneur www.citydigital.fiTRANSCRIPT
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Lessons learned while transforming legendary
CITY Magazine to the fastest growing
media family City DigitalSerial entrepreneur
Ilkka O. Lavas15.10.2013
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Media Digitalization: City DigitalHow did we jump to Finnish top10
list in 11 months
Transformation from suffering print magazine into Growing and Successful City Digital Media Family
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Ilkka O. Lavas• Started 1st company 17 years old• 2 books about entrepreneurship• Partner, board member, investor
– Portfolio of 15 businesses– 10+ aquisitions done– 3 exits
• Young Entrepreneur of the year 2009 in ’Southern Finland’
• 34years, 2 boys, 1 wife, 1343 fb connections, 1236 linkedin conns, twitter @lavas
• ”Guy Kawasaki of Finland”
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Скидки круглый год
Portfolio
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It all started when we got
research* results that we already reach large age-scale of people
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Lesson 1#• Never underestimate how digitalization affects to
the media culture.• Even your grandmother may be using iPad• Media usage is fragmented• We read curated media rather than single medium• We follow and consume sites that our friends are
suggesting and linking
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Earlier in history 1900- business process: Press –> Delivery –> ConsumerDigitalization 2000-: JOURNALIST –> CONSUMER
Media fragmentation is on our side
Photo: Inside Australia, sculptures by Antony Gormley, Lake Ballard, Western Australia
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What is City Digital ?
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What City Digital is?
City Digital is family of medias, focusing on quality journalism, City –life and phenomenons.
City Digital reaches Finnish digital elite 20-45-years, who spend all of their money and free time in themselves. City users are active and trendy.
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City Digital sites:
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We need new thinking. Blue ocean strategy: We are family. Media family.
Growing Media Family is stronger together. We learn from each others.
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Business model transformation
• 1985-2012• Business: print magazine
• Area: Helsinki, Tampere, Oulu, Vaasa, Local• Customers:
Locals, Finnish Advertisers• Circulation 200k-450k
• Visitors on web site 100k• Content creators/journalists: 20
• 2012-2013 (11 months)->• Business: Media Family
”the record company of web sites”• Area: Finland, w/ Global startups• Customers:
Local brands, Finnish Advertisers, Global Advertisers
• Circulation: 1100k / Magazine• Visitors on web: 500k/week• Content creators/journalists: 150
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City Digital visitors• Weeks 37-40/2013 avg
(TNS Metrix)• Uniques visitors 427 789• Unique browsers 509 819• Page views 1 778 858
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Lessons #2
Bloggers are new media stars. • Journalists have to learn how people are consuming
media• Power of traditional media is shrinking, #fashion trends
are arising from blogs and on streets• Single blog post can sell more than front page of the
biggest national traditional newspaper
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in 11 months
Transformation from suffering print magazine into Growing and Successful City Digital Media Family
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Lessons #3
Anyone can be a mediastar• Anyone can start new media business in minutes• Innovators and entrepreneurs are new
mediamoguls• Need for Media Families ”the record companies
of fragmented media ages” arise
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City Digital
Cross MediaMarketing
MixOnline-Offline-Radio-
Live-Print-Venue
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Lesson #4
We don’t need traditional TV anymore to create phenomenas. • Online video consuming is growing• Videodisplay advertising is more popular• Biggest TV ”channel” is Youtube
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City Digital
Organizing Movie nights
and great Parties
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We reinvented the process of creating City –print Magazine
Online journalismWe publish everything first in our online medias. We measure everything. Likes, shares, comments
to know what people want to read.
500k weekly
On demandPrinting1.000.000 pcs ofprinted mags
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Co-operation w/ SummerUP festival30000 guests
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New ways for journalism
Journalism becomes more visual• We have notices that ”old-school” journalism is not working for everybody. We
need new ways for touching people:• Feelings journalist, creates stories that makes you feel something• Videojournalism is growing fast• Need for new job titles, i.e. instagramjournalists, hashtagjournalists,
twittercurators and Facebook managers, Community managers• The more and more media fragments, the more we need curators• Amount of freelancer bloggers is growing• Amount of professional bloggers is growing
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We trust inpower of the people
and wisdom of crowds.
Think Digi-first. Digitalization is on our side.
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Media Digitalization is global opportunity
www.citydigital.fiwww.ilkkaolavas.com
[email protected]: @lavasFacebook: IlkkaLavasGsm +358 400 997969www.city.fi/profiilit/lavas/blogihttp://www.linkedin.com/in/ilkkaolavas