Friday, November 03, 2006
Online revenue jumped 24 % during the past quarter over the previous year's take, and it is up by more than 31 percent for the year. While online brings in only 1/10th of their print newspaper, the increase online covered more than half of that division's losses. The revenue split will probably get much closer to balanced within a few years, but just as TV didn't kill the newspaper, neither will the Internet.
What is WaPo doing right? It was relatively early in embracing blogging, including having many of its columnists blog as well as promoting blogs that are syndicated through BlogBurst. The company was equally quick to promote the sharing of its content through social sites including Digg, Reddit, and even Facebook.
The websites offers a smattering of video content and has had live discussions for years. Basically, they get that they must adapt to succeed online, and are executing.
The Washington Post is also running an advertising section about innovations in information, sponsored by Hyundai. There a bit of a disconnect between RSS and cars, but at least they are taking advantage of the medium.
What they haven't done is to take advantage of reader registration (or IP tracking) to target ads based on geography. Since I live just south of the other Washington, the likelihood of my taking the train into D.C. isn't too high. They should focus on national advertisers or find advertisers that are local to me.