The leaked internal report from the New York Times details the digital health of the publication and has a number of pointers that any brand manager should be taking note of.
Cultural change seems to be one of the main challenges; a not unfamiliar scenario for many traditional media companies. Unless this change takes place the NYT faces a dire future.
The newsroom is challenged to expand and engage its audience through discover, promotion and connection. Their task is not made any easier by "a cadre of editors who remain unfamiliar with the web.”
Overall it is an alarming indictment of a traditional company that has thus far failed to adapt to the expectations and opportunities of the digital age.
This chart sums up at a glance how new media publications such as the Huffington Post and Buzzfeed have captured the market at the expense of the NYT and other traditional companies.
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| Source: The New York Times Innovation Report |
To quote the report: “The very first step … should be a deliberate push to abandon our current metaphors of choice — ‘The Wall’ and ‘Church and State’ — which project an enduring need for division. Increased collaboration, done right, does not present any threat to our values of journalistic independence.”
Get the full New York Times Innovation Report here.
It is not possible to do justice to the full content of the NYT document in this blog post, but it is worth reading in its entirety. Their action strategy clearly details what needs to be done to turn the NYT around and will be applicable for many businesses struggling to adapt to a rapidly changing digital world.
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