Having a pithy quote or an insightful stat is key to being a good panelist at a conference. TBD.com’s Jim Brady and Erik Wemple have both in spades, so it was good to open on the Online News Association conference with a session on their new Web site. Here in List form, are the best insights from the panel.
1. Jim Brady, on the need for diverse revenue streams for digital news media: “There’s no silver bullet, there’s shrapnel.”
2. Erik Wemple, on the importance of linking to other news sources: “With 12 reporters and 5.3 million people in our market, our editorial vision is smoke and mirrors.” (Note to self: I haven’t seen anyone ask TBDers about how much risk they see in incumbent media orgs putting their news behind pay walls. They must have calculated that either the odds of that happening are pretty low or that the impact on revenue wouldn’t be a company killer.)
3. Wemple, expanding on the editorial vision of the site: “We want to be a place where, if you hear a siren, you go to #tbd and you find out what’s wrong.” (That news sensibility speaks to TBD’s legacy partner, the local news channel formerly known as Newschannel 8. It does, at least at first blush, seem to ignore anything that’s not event-based news.)
3. Brady, on selling local ads: The biggest challenge in local advertising is getting business online. TBD is developing service models, network models and Paper G to help bridge that gap. A quarter to a third of the blogs that TBD aggregates participate in its ad network.
4. TBD aggregates 196 blogs from the Washington area. This includes professional media, amateur media, and corporate, government and non-profit organizations. That one blog for every 27,000 people in TBD’s market. I wonder what is the smallest market size that could sustain an operation like TBD? It seems to me that this indicates a roll for news organizations in medium-sized markets to cultivate local bloggers to reach some minimal threshold that would make aggregation useful. I also wonder what the typical blog-to-person ratio is a typical media market? (Calling all grad students. There’s a good research question for you.)
5. The panel of TBDers recounted the news organization’s coverage of its first big breaking news story. Bloggers in TBD’s network as well as the site’s general audience provided important eyewitness accounts of the scene. This anecdote illustrated two important elements of crowd sourcing: First, that crowds are best at stenographic journalism — they are good at supplying answers to the who, what, when and where question when those answers come from immediate observation of events or documents. That means that crowds are relatively efficient at feeding editors information during breaking news, especially stories that develop across a broad geographic all at once. Second, that if you want to use crowd sourcing when news breaks you have to develop relationships with your audience BEFORE news breaks. Anyone whose ever cultivated a source knows that means a lot of chit-chat that appears to have nothing to do with the news value of the source. Same on social media.
6. Wemple, on the power of fertile failure: “If you have a Web site that doesn’t have something terrible on it, you’re not trying hard enough.”
7. TBD social media producer Mandy Jenkins, on ignoring your critics: “”In the age of social media, that’s something we can’t do anymore.” (More of her thoughts here.)
8. Steve Buttry re-counted his tale of interviewing Jenkins for the job. It was a good reminder that journalism job candidates who display curiosity always move their resumes to the top of the pile. In online media, this means your ability to show that you try to hack devices and services just to see how they might be able to solve a problem other than the one their developers intended them to solve.
9. Jenkins, raising suspicion that she may be the Mike Allen of TBD, said she has 22 Tweetdeck columns, follows about 200 feeds and that “We follow anyone who’s ever given us a tip.” (Note to journalism grad students looking for a academic research question: It would be very interesting to see whether news Twitter accounts with high follow/follower ratios yield significantly different levels of trust or relevance among the audience.)
10. TBD.com’s corporate parent anticipates the site to take about as long as its sibling, Politico, to become profitable. That took about three years. So, a note to the laid-off reporters and editors who’ve called me with dreams of starting your own news site to compete with your former employer — Step 1: Gather up three years of operating costs…
11. Writing brief, smart, newsy lists without an editor… is hard. Perhaps something we could be teaching our students.