editor-in-chief and CEO, Business Insider
A publishing CEOâs primary challenge in 2011 is the same as it ever was: To continue to produce content that people really want to read (or watch, or listen to, or all of the above).
At Business Insider, weâre going to continue to invest heavily in our content and technology. We think the online medium has enabled a new form of storytelling, one in which journalists, technology and readers all play a critical role, and we think the industry still has a long way to go in developing that.
Specifically, weâre going to hire more journalists, build new capabilities on the site and develop more ways for our community to contribute. Weâre also going to expand into new industry verticals (within the business category) and geographies.
The emergence of mobile and e-readers are a big opportunity, but thereâs no free lunch. Building a good mobile product takes dedicated resourcesâresources that might otherwise be invested in the site itself. That said, itâs great to have direct relationships with our readers, and weâre grateful that folks like our site enough to download our apps.Â Over time, we think weâll be able to use these relationships to deliver an even better experience for our readers.
In terms of the overall transition of the traditional publishing industry, one Web site that deserves huge praise is the New York Times. The company itself still faces challengesânamely in transitioning from the fat-and-happy profit margins of the print business to the lean and hyper-competitive online businessâbut the NYT has created an awesome Web site. And itâs a real business, too. Even if they were forced to shut down the paper tomorrow, theyâd have a big, growing online company, which is a lot more than many traditional publications can say.
One thing that never ceases to amaze me is the sense of entitlement at some traditional publications as their businesses come under pressure. We live in a dynamic economy, in which companies are born and die every day and itâs this constant process of renewal that has made our country the richest and most competitive in the world. But to hear the whines and umbrage coming from some folks in Big Media, you would think that âthe right to mint money in perpetuityâ was somehow guaranteed.
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