The New York Times’ leaked innovation report was probably the best thing that ever happened to the Times. Of course, the global humiliation of their digital failures had to have stung at first, in the moment, but in the end the way they responded to the truth of their situation – that they were stuck using old ways in a new world – become the source of how they found their way towards evolution. Rather than licking their wounds and doing the same thing they’ve always done, they embraced their need to change their perspective and adopted a new road map to help them take the Times legacy into the digital age, and today, they are starting to thrive. Continue reading
The New York Times innovation report that was leaked earlier this month, is a must read for anyone who works in media. It is indeed one of the key media documents of this age with a lot to teach a struggling Hollywood. The challenges facing the newspaper industry are very similar to those facing Hollywood. Both content creators are struggling to evolve in a changing media landscape and Hollywood would be wise to use the problems and solutions the NY Times innovation report illuminates to guide Hollywood in its evolution into Hollywood 2.0.
If you don’t have time to read the 97 page innovation report, here are the top 7 take aways for Hollywood to know … and start implementing!
NY Times: They need less thinking and resources (time and talents) put towards the “front page”, more thinking and resources put towards developing and reaching an online audience. (p. 90)
Hollywood: Less thinking and resources needs to be put towards first weekends, broadcast eyeballs or four quadrants, and more thinking about creating cross-platform, monetizable story experiences for audiences. Basically, by focusing on old goals Hollywood is misusing time and money and missing out on revenue opportunities, thus leaving money on the table. Continue reading