Nancy Cawley Lane, President Local Media Association
The story of the evolving local media industry – and its implications for the $133 billion local advertising market – is not always well understood. The local media industry is undergoing a remarkable period of transformation and innovation, but that story often gets lost in headlines about declining print advertising. To help highlight examples of innovation and transformation in local media, the Local Media Association has organized a campaign to share more data and anecdotes from the industry. Here is the link: http://www.localmedia.org/borrellassociates/
One of the key messages of the campaign is that traditional media companies are evolving in creative ways to become more relevant to local news consumers and advertisers. They are harnessing their core strengths – like powerful sales forces, deep relationships with local advertisers, brand credibility in local markets and convening power – to transform into launching pads for innovation.
Many local media companies are aggressively investing in a range of new ventures, including events, digital and business services, B2B publishing, branded content and video storytelling. In the process they are tapping hungry audiences in small- and mid-sized markets underserved by national media and entertainment vendors.
The supporting data and examples across the country are revealing. Using some fascinating and sometimes counterintuitive new research from Borrell Associates, the Local Media Association has crafted an infographic designed to reach national business and advertising audiences. We encourage our partners and friends across the media industry to share the infographic widely, especially with your local business community.