Local Media Consortium and Google News Initiative Announce Publication of Digital Advertising Revenue Playbook for Small and Midsize Publishers
Google News Initiative, Local Media Consortium | June 01, 2021
The Google News Initiative (GNI), in collaboration with the Local Media Consortium (LMC), has released the GNI Advertising Revenue Playbook, a comprehensive guide for small and midsize news organizations on how to monetize web content and grow digital advertising revenue successfully. This is one of GNI's Digital Growth Program pillars, along with audience development, reader revenue, data, and product.
The playbook is intended to educate both publishers who do not yet have a digital advertising business or who would like to understand better the fundamentals of programmatic advertising and those who do have a digital advertising business but are looking for ways to improve their strategies or gain new insights to increase revenue. The playbook's six chapters give an in-depth and step-by-step look at the fundamentals of digital advertising, including improving audience engagement and website performance, developing sales solutions, building an advertising team, and managing ad campaigns.
"Digital advertising is a terrific opportunity for local publishers and broadcasters to enhance their revenue," said Fran Wills, CEO of the LMC. "We are certain that the GNI Advertising Revenue Playbook will be a vital and widely used resource for small and midsized media outlets around the world looking to launch or optimize a digital advertising program."
"The impact of COVID-19 compounded the financial pressures already encountered by large news organizations," said Ben Monnie, Google's director of global news partnerships solutions. "With a focus on assisting local media outlets in increasing revenue through digital advertising, the GNI Advertising Revenue Playbook intends to assist news organizations throughout the world in navigating the current crisis and building sustainable digital businesses."
About the Google News Initiative
The Google News Initiative is Google's effort to assist journalism is thriving in the digital era. The Google News Initiative collaborates with hundreds of organizations across the globe to promote quality independent journalism, financial sustainability, and the development of new technologies that drive innovation through partnerships, programs, and products. Google pledged $300 million over three years to reenergize these collaborations and lay the foundation for new products and programs for a wide range of news publishers, intending to benefit the entire ecosystem.
About the Local Media Consortium
The Local Media Consortium delivers economic value for over 100 local media companies in top markets across the United States, Canada, and Puerto Rico through strategic partnerships and initiatives that involve more than 5,000 newspaper, radio, tv, and online-only news outlets. The LMC provides approximately $50 million in annual financial benefit to its members by using their combined volume and scale with technology and service providers such as Google, Facebook, Monster, and others to reduce costs and increase revenue. The LMC has also launched many strategic initiatives, such as The Branded Content Project, The Matchup, NewsNext, and NewsPassID, to provide cost-effective shared services and aggregated ad revenue opportunities for its members. According to ComScore, the aggregated LMC audience footprint consists of 212 million monthly unique visits and reaches 80% of the US online audience.