Mitch Blum

As we all know, the newspaper industry is struggling to survive and nobody knows how to fix it. Years of free high-quality content on the web has trained consumers that there is no inherent value in news content. Disappointing web advertising revenues are killing the bottom-line and it’s probably too late to start charging the online reader.

I’m not sure how to save the industry, but I’ve got a few ideas on how to save my local paper, The Boston Globe. Sentimentality aside, I’m just not sure where I’d get my beloved Parade magazine and coupons without the Globe.

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The core problem with The Boston Globe (and my household) is that it spends much more money every week than it makes. And unlike the various Ponzi schemes on Wall Street, there’s apparently no bailout money on the horizon. So the following things should happen in order to save The Globe:

1) They (probably) have to declare bankruptcy so they can renegotiate their existing contracts to reflect the current business requirements.

2) They need to be sold (preferably to local ownership) so that they can focus on the core business – journalism – and nothing else. No baseball teams, no jai alai leagues – just journalism.

Assuming those two things happen here’s what I would do next:

Print edition:

Monday through Saturday: Turn the Metro (or sell stake in Metro and create new version) into the Boston Globe Express. Free distribution model within reasonable distance of Boston. Merely provide synopses of stories and drive readers to web to read the full article. Make it a little smarter and better written than the Metro but continue to position it as a 20-minute read for commuters. Also offer BGE as a daily download that can be read on your handheld device on- or off-line.

Sunday: Restore the Sunday Globe to its former glory. Capitalize on the still existent desire to wake up on Sunday with a coffee and a real paper. Focus on regional and local stories and sports. Provide efficient delivery service (i.e. guaranteed delivery by 7 a.m.)

Boston.com:

Completely integrate The Boston Globe online into Boston.com. Truly leverage the social networking powers of the web and foster a true two-way conversation between readers and journalists. Redesign the site so that it’s a compelling web experience rather than a newspaper reproduced online. Allow users to have more creative input and interaction. Make Boston.com a destination on the web for all things Boston. Create exclusive content (i.e. Globe 10.0) in the form of videos and podcasts and don’t bury it under 5 layers of links.

So that’s my basic plan: free mini-paper during the week, best-in-class Sunday paper and next generation web experience.

Now, how do we make some money?

1) Print advertising: ads in the BGE and the Sunday Globe.

2) Web advertising: contextual search ads and banner ad on the new Boston.com

3) Subscriptions: on the Sunday Globe only, plus reward subscribers with member-only benefits, i.e. exclusive online chats, meet and greets, additional content, cross-promotional discounts, etc.

4) Donations: Follow the NPR model and request donations from readers. Emphasize transparency and show exactly where the money is going – to journalism and not to luxury boxes at Fenway.

Obviously it’s going to take a while for The Globe to get back into the black but I believe that if they focus on the core mission – providing compelling news content – they might just get there.

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If you liked these ideas on saving The Globe, you might also like my essay on Twitter & the Future of Creative Content.