Example of a profitable family business thanks to digital adaptation
Posted: Mon Dec 23, 2024 6:42 am
Twenty years ago, if you got on the subway during rush hour in Manhattan, you were surrounded by people with their noses buried in newspapers.
Nowadays, everyone looks at their phones.
I don't need to tell you that digital technology has been steadily eroding the publishing industry over the past 15 years.
The decline has been such that the industry's advertising revenue between 2000 and 2015 fell from $60 million to $20 million, eating away at the profits of the last 50 years.
Did anyone survive this carnage by adapting to the digital age?
As you can already imagine, the answer is yes.
Yes, The New York Times knew how to anticipate what was coming, embracing digital with all its might.
They began by implementing a highly successful subscription model that allowed the family-owned company to continue offering the same type of high-quality journalism and content that their readers had come to rely on for more than 167 years.
With their independence from advertisers, they have been able to make decisions based on stories rather than advertiser demands.
And it works!
According to their 2017 earnings report, they grossed nearly $500 million in digital revenue, which is more than other publications like BuzzFeed, The Guardian, and The Washington Post have grossed.
In the video below, you can see this giant's commitment to the digital era and how i email database marketing swiss t has managed to keep its value proposition intact but completely digital.
Youtube video thumbnail
Through data and real examples I have shared with you a lot of information about family businesses in Spain and around the world.
Now tell me...
Do you run a family business and have any digital experiences to share? I'll be waiting for you in the comments!
Nowadays, everyone looks at their phones.
I don't need to tell you that digital technology has been steadily eroding the publishing industry over the past 15 years.
The decline has been such that the industry's advertising revenue between 2000 and 2015 fell from $60 million to $20 million, eating away at the profits of the last 50 years.
Did anyone survive this carnage by adapting to the digital age?
As you can already imagine, the answer is yes.
Yes, The New York Times knew how to anticipate what was coming, embracing digital with all its might.
They began by implementing a highly successful subscription model that allowed the family-owned company to continue offering the same type of high-quality journalism and content that their readers had come to rely on for more than 167 years.
With their independence from advertisers, they have been able to make decisions based on stories rather than advertiser demands.
And it works!
According to their 2017 earnings report, they grossed nearly $500 million in digital revenue, which is more than other publications like BuzzFeed, The Guardian, and The Washington Post have grossed.
In the video below, you can see this giant's commitment to the digital era and how i email database marketing swiss t has managed to keep its value proposition intact but completely digital.
Youtube video thumbnail
Through data and real examples I have shared with you a lot of information about family businesses in Spain and around the world.
Now tell me...
Do you run a family business and have any digital experiences to share? I'll be waiting for you in the comments!