|
Getting your Trinity Audio player ready...
|
As the world increasingly becomes smaller and a global marketplace, English-language publishers have a head start in being able to leverage their content (and brands) across national boundaries – they just need to seize the new opportunities available to them.
In its latest report released this week, global media association FIPP outlines how publishers can harness international opportunities using a clear strategy underpinned by cohesiveness, agility and flexibility.
The report, written by Pierre De Villiers, argues that cross-border publishing – previously a straightforward process through print licensing – has become vastly more complicated as digital channels have multiplied. Indeed, the key obstacle facing publishers when developing a cross-border strategy is now the level of technology available across many territories.
Another emerging trend is that there are now fewer boundaries by territory and more integration by language, especially English, Spanish and Mandarin. Alastair Lewis, Principal and Managing Director, FIPP Consulting says, “Publishers will enable partners to run editions in certain languages, and if they make a success of it that’s fine, and if they don’t, they’ll move on.”
AI translation is also playing a key role – last year saw the launch of Le Monde in English with Arnaud Aubron, Le Monde’s Head of Development, stating, “Le Monde had been thinking about having an English version for about ten years. It was only really made possible thanks to AI translation developments.”
Le Monde FR publishes roughly 100 articles a day. For the English version, we don’t translate live feeds and we’ll also leave out articles that aren’t relevant to non-French readers. This leaves 30-40 articles that were originally published on LeMonde.fr to be translated into English.
Arnaud Aubron, Le Monde’s Head of Development
Cross-Border Publishing Models
Villiers writes that publishers face a clear choice when publishing internationally, either adopting a Core model or an Incremental Model. A Core model is typically the preserve of large, global publishers where being a global brand is a core strategy, “There are big media brands out there, like National Geographic, Elle and Vogue, that have international strategies and continue to develop global media properties.”
The Incremental Model adopts a safer approach to international expansion, with publishers, “delivering for their home market while recognising an opportunity to generate an incremental revenue through syndication, licensing and cross-border deals.”
However, whilst the Incremental model involves less risk and financial outlay, Villiers cautions that, “Expansion is opportunity-led, and the model often lacks a coherent approach across or between territories. Brand and user/advertiser experience can vary hugely, and the strategy faces uncertainty on all fronts.”
The Core and Incremental models suit publishers in different ways. Arguably, given the current situation, I wouldn’t be surprised to see more publishers taking a more incremental approach rather than planning for global domination.
Alastair Lewis, Principal and Managing Director, FIPP Consulting
Hybrid Models take shape
While Core or Incremental Models have worked well for publishers, a hybrid of the two might well be “the way to go in the future” according to Villiers who singles out Dotdash Meredith as a world leader in the way it has expanded internationally.
Dotdash Meredith, publisher of some of America’s most influential brands including InStyle and Better Homes and Garden, has adopted a hugely successful strategy that broadly falls under the Incremental Model, but with a core strategy to grow their international presence.
Key to Dotdash Meredith’s success has been a focus on their content rather than their brands, with syndication at its heart. FIPP Consulting’s Alistair Lewis, says, “In terms of a monetisation approach for their core business, they have identified syndication and licensing of their content – and they are best-in-class.”
What makes Dotdash Meredith’s strategy work is the ease with which partners can tap into their award-winning content. Villiers writes that if someone is launching a health and wellness app and wants some strong content, they don’t have to spend a fortune.
Recipes from one of their brands feed into your app in a white label way and you pay Dotdash Meredith for the syndication – those recipes come to you and you can republish them almost as your own. These guys are leading the way when it comes to cross border publishing.
Alastair Lewis, Principal and Managing Director, FIPP Consulting
Content syndication comes into its own
A number of startups have also sprung up that are disrupting the content licensing space and opening it up to publishers of all sizes, attracting publishers of the calibre of Future Plc, Immediate Media, The Independent, and others.
Joris van Lierop, CEO of The Content Exchange told WNIP that the economics are straightforward, “publishers need to maximize the revenue produced off the back of their content and content licensing provides a seamless way to do so.”
Content is normally licensed abroad so it doesn’t compete with a publisher’s own market and, if it is re-published in English, canonical URLs are stipulated to ensure that the original owner of the content is safeguarded.
Joris van Lierop, CEO of The Content Exchange
Publishers are also increasingly interested in Journexx, a self-proclaimed ‘digital marketplace for journalistic content’. The Berlin-based startup operates as a dynamic content trading platform where magazine, newspaper, and digital articles are available for sale at prices that fluctuate in real-time based on demand and relevance.
Richard Bean, the former director of international licensing operations for Future, Dennis Publishing and Hearst – and now a consultant to Journexx – says, “Journalism is the only commodity that doesn’t have a market price. Publishers should start to understand the value of their content as a commodity – the Journexx platform shows them its value in real-time, across multiple territories.”
As FIPP’s report demonstrates in-depth, the opportunities are there. It’s up to publishers to seize them.
“The State of Cross Border Publishing” is free to download and available here
