The New Video News Network !

I have been writing a lot about the future of news and where it will take us.....will it be all video, streams of media, all mobile, or will the newspaper somehow survive.  Nobody knows for certain, but one could take a very calculated guess and point towards video / mobile.  I had also talked about a new type of news site that we were building to incorporate into OurTown.com as well as have it stand on its own......VNN ( Video News Network).  

VNN is going to be a video network (much like YouTube), but it is focused on local news and local happenings.  Regular people will be able to upload video in real time to the network as the actual news is happening.  Then our users can view and browse this content through many categories including down the the zip code.  VNN will eventually have "video editors" who can do 3 essential things.....curate the news, comment on the news and create social interaction with viewers as they respond to the news. . We will also have a strict admin control over the site so that it doesn't turn into a YouTube with many off topic videos and keep it limited to what is important to the site and its users.

VNN will become that place for local news stations to upload their daily broadcasts, amateur journalist to upload their findings and breaking stories via video, and also a perfect place for any vlogger !  Since we are incorporated into YouTube itself (meaning our VNN videos get the YouTube video SEO treatment) we become the best choice for these types of users.

We are in the beginning stages of VNN and will hopefully grow into our own over this coming year.  I invite you to check out the BETA site and let us know what you think in the comments.

BETA site - VNN

Your OurTown Superhero,
Chris

Who can make Hyper-Local News work?

I have looked at many hyper-local news networks over the past few years and many of them had some of the same qualities and features.....but none of them really succeeded in their plan to take over the online hyper-local news space.  A lot of them either went out of business, re-vamped their idea, or sold the site to another hyper-local network.  There are some like Patch.com which are still operating, but have such a high operational cost that they lose millions each month!  So far nobody has the right answer, and hopefully that changes in 2012.

If the answer isn't found in 2012 it won't be for a lack of trying!  So many people are trying to build the right network and there are so many existing companies re-vamping their business model that I predict an online local news overload in 2012.  But the question still remands on what is the right formula on creating a huge hyper-local news network that is profitably.   I won't clam to know the formula, but I can tell you a few problems or issues that will need to be answered to get it done:

1) Local Ad Revenue

Many hyper-local sites are basing most of their revenue off of the sales of local advertisements and a lot of them are expecting way too much money and going about it all wrong!  The first mistake I see on most of these sites is when they divide up the areas, they do not take into account what a normal sales area would cover.  They have the areas split up into "hyper-local" news areas and then when they try to obtain local advertisements they usually cover too small of an area and do not reach enough people to satisfy the local business owner.

Another huge mistake is they predict too much money out of the sale of local advertisements.  They don't take into account that when selling on such a local level that the ad prices go way down compared to a regional ad.  So they do not set up the right budget per town or area within the network causing them to lose money even though they might be making good progress. 

Some how the local ad revenue model has to be figured out and fast or none of these sites will be turning a profit anytime soon.

2) The Hyper-Local Network Staff

This is a huge issue with many of the hyper-local new sites and networks....who runs the sites, how do we pay them, and how do we find them!  It is really important to get the right people writing the stories and covering the local events, but how to you find them?  Also, once you have found the right type of people what is your model for paying them (keeping in mind how much you can have as overhead cost compared to what you hope to make out of each site)?  These are really important questions because you can keep your cost down, but you might not find the right people.  But then if you find the right people and they cost too much your site loses money no matter how good the content.

Then comes the question of once you have your writers, local editors, site editors, etc. who will sell the local advertising or national advertising?  Some have tried to have the local editor sell the advertising or even  be in charge of getting leads and neither have worked out.  Some have tried have a sales team based in other cites to call into the local communities to obtain advertising and they hasn't worked either.

Once you figure out what the correct staff is and the correct cost of the staff in comparison to the income of a site you will finally have the winning combination.


I think that once those two main issues are truly solved then someone is going to have a real shot at creating a hyper-local news network that will work and be profitability.  Until this happens you will see many hyper local news sites appear and disappear overtime along with many underwhelming sites.  I know OurTown is working in a new "formula" this year to try and figure out these issues, but it is going to be interesting to see who wins this race!

Your OurTown Superhero,

Chris 

Building Your Own Community Site!

You are a passionate community member who keeps involved and up to date with everything going on in and with your community.  The only problem is that most people are unaware of a lot of things happening because your local news / community source is missing those events or doesn't have the time to cover it.  So how do you fix this problem and get the community updates and news to the people who want it?  That is when someone needs to step up and create their own community news site!  In the past most people would have thought this type of ideal to be impossible, but now with all the new innovations it is very possible!  The first thing you have to do is figure out what is needed to start this type of news outlet and how you will approach and run the news outlet.

More people than you think run into the above situation and get to the final questions of what and how on building a local news outlet, but get stuck there and stop.  Most people think that it is just going to be too much work, or that they will put all this time into the outlet and get nothing in return. This could be the case if you don't know the right answers to those vital questions - what is needed to start / how are you going to run it.  This is where I come in....to answer the questions and give all of those people the hope and assurance that it can be done and they can do it!

What is Needed?

1) First you need to figure out what platform you will use to distribute your news.  Most likely you will choose an online platform since print is slowly dying out and the costs keep going up.  So once you figure out that you want to be an online community news source you must figure out if you are going to pay someone to build you a custom website, are you going to just use one of the blogging platforms, are you going to use one of the social platforms, or are you going to join an existing network.

2) Once you pick which online source you are going to use then you need to figure out if you are going to create and maintain this outlet alone or are you going to enlist some help from friends, business partners, or fellow community members.  Figuring this out in the beginning will really help in the planning of maintaining the site.

3)  Now that you have your platform and team members you are going to need to figure out if you are going to run this site out of the goodness of your heart or would you like to benefit financially as well.  This will also help determine if you picked the right platform as some are more inclined to making revenue.  You will also need to decide how much revenue you need to either make it worth your time or keep the site going.

4)  Next you need to make sure you have the equipment needed to cover and report on certain happenings and events.  Mostly you will need some way to take pictures (possibly video) and a way to get notes and/or write a story on location.  Most of these are very low cost and easy to come by.

5) The last major "Need" on my list is motivation!  A lot of people think it is a great idea to do this or go in very strong, but over time stop producing.  You need to make sure that you have the motivation to get things started strong and to keep up with your outlet and to put the hardship in to make a good news source.  Now in the beginning you will have more work, but as time passes it becomes less work and comes easier to manage.


How to Run / Manage your News Outlet .

1)  First you need to figure out the winning combination to reach your full audience potential.  This can be done by a combination of using your own site / social media / newsletters / connecting to bigger sites and so on.  I would recommend to start out by building and promoting your own site and then pushing those stories out to different social media sites.   Make sure to try out different combinations, because different outlets work better for different communities.

2)  Next you will want to make a plan!  Figure out how many hours a week you want to dedicate to your news site and what type of events / happenings you would like to cover.  This is important because if you don't set up a plan you can start spending too much time or too little time working on your news site and both have effects on your viewers and you as a person.

3)  Make sure to have a revenue plan in place and execute on a monthly basis.  In the beginning you will want to build up your content / viewership / networking / and promoting.  Once you have a good readership built then obtaining advertising / sponsorships /  paid classifieds and so on will not be that difficult.  Make sure to set sales goals and set a revenue number you want to hit monthly to make sure it stays worth it!

Now there are many things to do when setting up your own local news outlet / site and many more to carry out while running and managing the site.  Above I have listed many important points and tips that will help out a lot in the beginning.  If you are looking for more help / tips make sure to check out OurTown.com or email us at Support@OurTown.com.


Your OurTown Hero,

Chris