With the closing of NBC's EveryBlock and Patch.com having trouble with profitability, local news sites are having a difficult time with their business models. The plethora of web and mobile advertising solutions, including location-based marketing, for local businesses means that local news sites will have a difficult time with advertising revenue.
Is the Local News Business Model Dying?
Posted by
SeanBarkulis under Online Marketing
From http://seanbarkulis.tumblr.com 89 days ago
Made Hot by: Evan Collins on February 19, 2013 10:16 pm
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Comments
89 days ago
89 days ago
As someone who from time to time has dabbled in local publishing, I can say that the fatal flaw in all of these businesses has to do with a fundamental assumption. That assumption is that local news and information and local advertising go together as effectively and profitably in the digital world as they did in the traditional news industry. There certainly is a demand for localized news and information on the Web, perhaps even more so because this content often draws lower traffic than nationally or globally relevant content attracting fewer digital publishers to the market. It is also true that local businesses need to distinguish themselves more than ever before with unique marketing that sets them apart in their communities. The problem is that both demands may have to be satisfied with totally different business models if local news sites cannot bring in enough localized traffic to justify the advertising revenue they need to keep their doors open.