We have entered a very difficult time for many media outlets. The changing face of modern media has completely shifted the industry’s ability to profit from news and other important stories.
We have seen a paradigm shift as newspapers are crumbling due to being squeezed between high news-gathering costs, decreasing ad revenue and the long-term trend away from print editions and towards digital news.
This might seem familiar when we consider Trump’s use of the term the “Failing New York Times”. Even though The New York Times is not failing, they are a unique case as we see an increasing amount of once well established newspapers plumet. Over the past decade, weekday circulation has fallen 17% and ad revenue more than 50%.
Across the pond in the UK, the situation is not much better. The Sun reported a loss of £253m after slashing the intangible value of its newspapers by more than a third amid declining print sales. Moreover, The Telegraph has also seen profits fall by a third as ads and circulation decline. This topic was also covered by the popular comedian John Oliver, who broadcasted a 20 minute feature on his show, highlighting the problems modern journalists and news organizations face.
While it may take a lot to change the tough challenges these companies face, one startup has a solution that might provide companies with some much needed help.
Quintype is an advanced audience technology platform and premium monetization service for today’s post-Facebook world. Quintype’s platform, today used by the likes of Bloomberg and Mother Jones provides the tools for editorial teams to create relevant content, and deliver personalized content across desktops, tablets, mobile devices, social media, chat platforms, and anywhere else their audiences may be.
Quintype, which has offices in India and the US, was initially created with the understanding that today’s content businesses need serious technology platforms to grow and scale up. Though it may be relatively easy to launch a new site or app using standard platforms such as WordPress, it can be a lot harder to do this while successfully managing a whole host of other aspects.
“Data-driven publishing is now a requirement for all businesses, simply because everyone has to be a publisher now,” said CEO and founder Amit Rathore.
“Quintype is an out-of-the-box cloud-based SaaS solution to this strangely anachronistic problem. Almost every other industry has SaaS offerings that let businesses focus on their core businesses, media seems to be lagging. Quintype fixes that. And this is in an age where technology, data, predictive analytics, and artificial intelligence algorithms are no longer “nice to haves”, but “must haves” in order to survive. And now with Quintype, publishers and content marketers can have that best of breed functionality, without having to build it themselves or integrate anything.“
Ultimately, our newspapers and content businesses are struggling to keep up in our constantly evolving world. The term adapt or die has potentially never been more applicable, and in order for news outlets to survive, they must adopt new strategies and offerings from companies such as Quintype in order to reach audiences and successful monetize their work.