The Local Media Association is working to build a Business Model Accelerator that will chart sustainable revenue paths for local media and, in turn, enhance the vital role that they must play in their communities. In this Q&A, LMA Chief Innovation Officer Jed Williams sketches out this far-ranging quest to give local news a central place in community and ensure the industry will be around for the long run.
A recent Innovation Mission to San Francisco/Silicon Valley drew 13 senior executives in the news business (newspapers, TV, radio and research and development). It was built around three themes: audience engagement, platform strategies and using human-centered “design thinking” to solve thorny problems that bedevil most news providers.
“It’s easy to laser in on the splashy headlines about M&A activity and innovation reports, but quietly, there’s a palpable spirit of innovation at work in local media across newspapers, broadcasters, and pure plays,” says the LMA’s Jed Williams.