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The Diamond Valley Newspaper Part 1

Abstract

Online advertisement has become major trend in the news publishing outlets and websites but Diamond Valley Leader is unable to use its online medium through high rate of online advertisement. This aims to find how Diamond Valley Leader can use its online advertisement for increasing its revenue. In this respect, this study identifies the literature on the increase use of internet and its influence on the news publishing outlets. Moreover, qualitative research design has been chosen in which online survey questionnaire has been conducted on 150 respondents using social media. The findings of the research indicate the role of search engines ranking, popularity of news publishing outlet that leads the visitors to the website.

Introduction

Diamond Valley Leader is considered as one of the largest community newspaper serving the six big cities of Australia. The newspaper is found apparently publishing without being biased, or having any specific agenda or creating sensationalism. It has been observed that Diamond Valley Leader has been much more focused towards covering the local community issues, incidents and information that is of great significance to the community. In addition to the tremendous media services offered by the newspaper, with the increased usage of electronic media, there has been a severe decline in the revenue generated by the newspaper through their print media (NewsSpace, 2007). Hence, the need has emerged requiring the print media to amend themselves in accordance with the upcoming trends of the technological age. Now, most of the people prefer to get free online information about anything anytime anywhere they required. Diamond Valley Leader is also focusing on finding out those potential advertisers who are willing to advertise their business in unused space at discount (NewsSpace, 2007). This research paper analyzes the approach, can Diamond Valley Leader use the tool of online advertising in order to maximize their revenue. If you want to buy essay writing service than Paper Writers should be your stop!

 

 

Background

The Diamond Valley Leader, a community newspaper, has struggled since its inception in 1850 until now to provide the local community with the knowledge and awareness for environment with the help of local editorial team and an in-depth knowledge of the community and locality. Over many years, the paper has used this community paper as platform to advertise for businesses as well as products to the close community residents (NewsSpace, 2007). Since the revolution of the internet and increased internet users, the Diamond Valley Leader has notified decrease in its revenue that it has always earned through print advertisements, as newspaper advertisers now prefer to have their advertisement published using online medium such as websites and blogs (Shrivastava, 2007 ). Generating revenue using print newspaper has emerged as an issue for the Diamond Valley Leader because news agency is unable to gain maximum advertisement. It has been found that other newspaper outlets are considerably intended to employ online advertisement as to have compensation in the print newspaper revenue (Thussu, 2006). It is found that there are larger numbers of online users than circulation of print newspaper in average 12 months globally, and online newspapers are gaining $51,000,000 revenue through online advertisement (Karp, 2007).  This attractive figure of revenue of an online newspaper has enabled the Diamond Valley Leader to consider being strategic in using online advertisement for increasing the revenue. However, the Diamond Valley Leader has an online presence, yet it fails to earn maximum from the online advertisement. Get assignment help from experts writers.

Literature Review/Context

Inception of Internet

According to Poole et al. (2005), the need of the point-to-point, communication among various humans all around the world, gave rise to this revolutionized technological development. In addition to this, the significant growth of internet also becomes the reason for the birth of World Wide Web (WWW) that helps the users to search out the required web page more easily, quickly and conveniently. Sherman (2003) defines the inception of internet as a very effective stage towards the the effective usage of technology in globalization (Sherman, 2003).

Global Trends of using Internet

Various researches have been found emphasizing on the emerging global trends in the usage of internet in the modern times. Its vast and incomparable characteristics have regarded the internet as the global medium of communication. According to Development (2002), current trends in using internet include e-commerce, e-banking, mobile internet, e-finance and others. On the other hand, internet has also been used in entertaining and providing valuable information about the current affairs of the international world to the people all across the world (Development, 2002). Buy your perfectly written dissertation writing well before the deadline

Observations have also revealed the usage of internet in the field of education. Now most of the institutions prefer to serve their students online by resolving out their queries on time. Apart from developed countries, there has been an increased usage of internet in the developing countries too, in order to compete in the global challenging environment. Mazarr (1999) defines the placement of internet in modern world as the key component of long path towards success. Internet has become an indispensible part of the life of the people in today’s world (Mazarr, 1999).  Furthermore, recent trends in making competent usage of internet could also be viewed from the survival and growth of global economy (Itō, 1996).

 

Internet as an Alternative Online Medium of Newspaper

From the mid-1998 and 2000, the internet has emerged as the most effective alternative source of news publishing medium (Parry, 2003). Using internet or having an online presence has become indispensable for the news publishing outlets, as there is tremendous growth in the worldwide population that is observed as 119 million to 580 million (Parry, 2003). This statistics indicates great opportunity for the news publishing organizations to increase their revenue using different online tactics such as online advertisement that is considered as the cheapest source of global advertisement (Bridges et al., 2006). In addition, it is found that news is one the major concern of online users and one of the fastest growing markets for content. It is also found that accessing news content is the second most favorite activity of the internet users after emailing. This trend of online users has provided great opportunity for news publishing outlets to get the word around and have maximum online visitors for the content. In 2002, there were more than 10 newspaper websites around the world with the fastest growing rate of visitors of total global market (Karp, 2007), whereas internet has been found as the third largest source of news after television and radio (Parry, 2003). Buy coursework writing help from us to surprise your class topper and reviewers with brilliant work.

Using Online Advertisement to Increase the Revenue

Tatnall (2007) identified the future trends of using internet in his research, emphasizing the need for the media to target the potential advertisers offering their value added services to attract their potential customers through online advertising by using their platform (Tatnall, 2007).  Likewise, according to Papadimitriou& Zhang (2008) the online service providers could generate much more revenue as compared to any other medium. The same could be applied to the online newspapers, capturing the huge share of advertisers and overcoming the loss incurred through print media service effectively through online advertising platform.

Chandrasekhar (2007) clearly stated that The New York Times Company, one of the largest newspaper companies of the world has been incorporating a dynamic system to reach out the large businesses as their key advertisers in order to increase the revenue for their company.  It was also highlighted that another newspapers like Washington Post Company and the Tribune Company are also following the same path (Chandrasekhar, 2007). Furthermore, according to the Interactive Advertising Bureau of Canada (IAB), the total revenue generated from the online advertising is contributing the second highest share in the Canadian media advertising income. (CNW, 2011). Hence, the same gave the rise to bring changes and adjust their strategies according to the global trends in their newspapers across the globe.

 

Conclusion

Thus, after reviewing the various literatures and analyzing the findings of this research work it could be concluded that internet could effectively be used to generate millions and billions of revenue by the newspaper publications. The smart use of technology, when on the one hand has influenced the young and upcoming generation with its tremendous features. On the other hand, it has also opened the vast doors of success for all those who want to earn money and get benefit. The results so obtained from the findings of Diamond Valley Leaders, illustrated the positive influence of online advertising on the visitors. Hence, this positive influence could be regarded by the newspaper management as a significant tool for generating more revenue through online advertising apart from print media. Moreover, it was also analyzed that the usage of online advertising has also significantly contributed towards the increased online subscription for the Diamond Valley Leaders newspaper. Visitors are found taking keen interest in keeping up to data information about the upcoming goods and services. Hence, it could be said that Diamond Valley Leaders can use the online advertising to increase its revenue at larger proportion.