How the Nevada Independent turned events into a revenue and community engine
As many news organizations are expanding their events offering, the nonprofit Nevada Independent has not only found success in attendance, but also in sponsorships from events.
Chief Revenue Officer Brett Burke talked with the Local Media Association about his newsroom’s objectives and learnings over the years. The long-time sales executive didn’t diminish the importance of traditional news organization revenue sources, but they are not a sustainable strategy by themselves.
“An advertising exchange is a race to the bottom,” Burke said. “I won’t diminish the value of our site just to fill it up.”
What he’s found to be most sustainable is a healthy mix of earned media and philanthropy.
Related Knowledge Center: Local media
The hollowing out of the local news ecosystem has been well documented; in some communities, efforts are underway to reverse the growing news desert.
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.