Diverse Media Sustainability In The Age Of Pandemics
Martin Lawrence Pratt, Principal Media Strategist, Unidad Media Group
Ross D. Johnson, Principal Media Strategist, Willoughby Avenue
23 March 2020
MMCA
Multicultural Media Correspondents Association (MMCA)
Diverse Media Sustainability In The Age Of Pandemics
Martin Lawrence Pratt, Principal Media Strategist, Unidad Media Group
Ross D. Johnson, Principal Media Strategist, Willoughby Avenue
23 March 2020
MMCA
Multicultural Media Correspondents Association (MMCA)
MMCA
Diverse Media Sustainability In The Age Of Pandemics
Published 23 March 2020 - ID WA0002020
By Martin Lawrence Pratt, Principal Media Strategist, Unidad Media Group
Ross D. Johnson, Principal Media Strategist, Willoughby Avenue
Diverse Media Sustainability, applicable to print/digital and digital-only brands, must consider publishers' progressively executed and subsequently validated growth strategies, and of equal importance, the brands' ability to adequately respond to sudden and significant shifts in market forces.
Summary Analysis
Diverse Media (Print/Digital & Digital News), comprised of African American, Hispanic/Latin American & Asian American-owned and audience-focused publishing brands, rely upon traditional advertising revenue (ad revenue) models to yield the profitability required to maintain operations. As with Broader Media (not diversely owned and audience-focused), Diverse Media benefit from a combination of national & local product/service ad campaigns, third party ad network traffic monetization, event-specific ad campaigns, affiliate marketing revenue, brand studio content and member/subscription fees.
Although quite similar, if narrowly viewed through the lens of revenue sources, Diverse & Broader Media differ significantly in how the noted revenue sources are weighted. When assessed more accurately, Diverse Media rely more heavily upon ad revenue generated from local businesses, event promotions and fewer national brands, compared to Broader Media. As cities and regions benefit from increases in tourism, annual & series events, as well as improved economies, Diverse Media, more than Broader Media, are able to align their revenue goals accordingly. Conversely, as cities and regions experience downturns in tourism, annual & series events, as well as declines in economies, Diverse Media ad revenues reflect this negative shift.
The recent coronavirus (COVID-19) pandemic quickly began to progressively drive global supply chain, air travel, hospitality, public entertainment, dining, brick & mortar retail, transporation and public services industries to a halt, is the latest reminder that Diverse Media must ensure that their revenue models and ability to quickly adapt to such events are in place.
The COVID-19 pandemic represents one of many categories of events that may suddenly shift global and U.S. markets. Diverse Media must assess their revenue, operational, product/service delivery, social and civic engagement models, throughtfully considering the "pain points" and risks identified within this report, then develop mitigation strategies to ensure their sustainability.
Anticipated Outcome
COVID-19 Pandemic: Identify, the current revenue, operational, service/product delivery and civic & social engagement impact to Diverse Media. The report will apply a weighted methology for each of the noted impact areas, establish baseline data, capture changes in reported data at thirty and ninety-day intervals, annotate actions taken by Diverse Media and present a summary of related causal relationships.
MMCA
Diverse Media Sustainability In The Age Of Pandemics
Published 23 March 2020 - ID WA0002020
By Martin Lawrence Pratt, Principal Media Strategist, Unidad Media Group
Ross D. Johnson, Principal Media Strategist, Willoughby Avenue
Diverse Media Sustainability, applicable to print/digital and digital-only brands, must consider publishers' progressively executed and subsequently validated growth strategies, and of equal importance, the brands' ability to adequately respond to sudden and significant shifts in market forces.
Summary Analysis
Diverse Media (Print/Digital & Digital News), comprised of African American, Hispanic/Latin American & Asian American-owned and audience-focused publishing brands, rely upon traditional advertising revenue (ad revenue) models to yield the profitability required to maintain operations. As with Broader Media (not diversely owned and audience-focused), Diverse Media benefit from a combination of national & local product/service ad campaigns, third party ad network traffic monetization, event-specific ad campaigns, affiliate marketing revenue, brand studio content and member/subscription fees.
Although quite similar, if narrowly viewed through the lens of revenue sources, Diverse & Broader Media differ significantly in how the noted revenue sources are weighted. When assessed more accurately, Diverse Media rely more heavily upon ad revenue generated from local businesses, event promotions and fewer national brands, compared to Broader Media. As cities and regions benefit from increases in tourism, annual & series events, as well as improved economies, Diverse Media, more than Broader Media, are able to align their revenue goals accordingly. Conversely, as cities and regions experience downturns in tourism, annual & series events, as well as declines in economies, Diverse Media ad revenues reflect this negative shift.
The recent coronavirus (COVID-19) pandemic quickly began to progressively drive global supply chain, air travel, hospitality, public entertainment, dining, brick & mortar retail, transportation and public services industries to a halt, is the latest reminder that Diverse Media must ensure that their revenue models and ability to quickly adapt to such events are in place.
The COVID-19 pandemic represents one of many categories of events that may suddenly shift global and U.S. markets. Diverse Media must assess their revenue, operational, product/service delivery, social and civic engagement models, throughtfully considering the "pain points" and risks identified within this report, then develop mitigation strategies to ensure their sustainability.
Anticipated Outcome
COVID-19 Pandemic: Identify, the current revenue, operational, service/product delivery and civic & social engagement impact to Diverse Media. The report will apply a weighted methology for each of the noted impact areas, establish baseline data, capture changes in reported data at thirty and ninety-day intervals, annotate actions taken by Diverse Media and present a summary of related causal relationships.