Today’s blog post from Seth Godin paraphrases Clay Shirky, “…every revolution destroys the last thing before it turns a profit on a new thing.” This is exactly what is happening for local stations.
The digital products are returning only a fraction of the revenue as the legacy TV newscast. The problem is that the users (viewers) are still leaving the legacy product. There is now almost infinite choice so the solution is to spread your data to as many platforms as possible, not require the user to come through your chosen channels, because many will chose to go elsewhere.
A few years ago Jeff Zucker, president and CEO of NBC Universal famously said we must be careful not to, “…trade analog dollars for digital pennies.”
While working on a new weather project (which you will hear more about very soon) some have asked if we are concerned about cannibalizing the legacy newscast. Yup…but it has not been completely “destroyed” yet.