The end of publishing as we know it

(written by Lawrence Krubner, however indented passages are often quotes)

Tien Tzuo has a manifesto for publishers:

We also believe there’s a much better way for subscribers to keep getting their news on the iPad 2 that doesn’t put journalists in the poorhouse. It’s absolutely true that online ad models have dried up and it’s clear that “free” is not a strategy.

In order to survive, publishers need to commit to a new manifesto:

Media companies need to take charge of their own destiny, not hand the keys to Apple.

Media companies need to build out their own subscription model – one that is flexible, can keep up with changing customer tastes and desires, and can shift pricing whenever necessary.

Media companies need a flexible platform to create the right bundles for the right subscribers.

Media companies need to recognize that, as other subscription businesses have learned, a one-size-fits-all approach won’t maximize revenue, and over time they’ll need to package content to attract different market segments.

Media companies need to learn to adjust, because if we’ve learned anything in the relative infancy of monetizing online content, whatever model publishers start out with are likely to be completely different a year – or even six months – from now.