Join us at LMA Fest 2023
August 1 – 2, 2023
Gleacher Center | Chicago
Key Takeaways from LMA Fest 2023
In addition to being a sponsor of this year’s LMA Fest at the Gleacher Center in Chicago, our Director of Sales Ryan Stephens was on hand to meet with clients and stay on top of some of the latest trends in local media. If you missed the show, not only did you miss some great insights from the sessions, but you also missed the chance to chat with Ryan. That could very well be the greatest disappointment since the 1962 (or ‘66) Cubs seasons. You have the chance today to remedy that. First, make sure to reach out to Ryan to discuss how we can help your business to Scale, Save, and Succeed. Then, make sure to keep reading below for his 7 key takeaways (8 if you’re a Cubs fan) from LMA Fest 2023.
#1 – The need for credible local journalism has never been more urgent!
#2 – News deserts (areas of the country not served by a local newspaper) are creating two Americas. One that is informed, and one that is not. Where credible information is not available, people are left to rely on whatever appears in their social feeds. Misinformation and conspiracy theories thrive there, and democracy is left in peril.
#3 – The local news business model is broken, forcing operators to seek diversified revenue streams that produce and rely on 1st party data.
#4 – Events, contests, philanthropy, sponsorships, advertising, subscriptions, partnerships will all be part of the revenue mix. Reliance on any one source of revenue leaves your business vulnerable to market forces.
#5 – Everyone in your organization needs to think like and act like a salesperson.
#6 – Local news producers need to protect, defend, and in some cases reclaim their content from those that use it to build businesses that steal their audience, advertisers, and revenue.
#7 – AI is here. It can be a great resource as local media operators streamline tasks that take time away from strategic and revenue related thinking and actions. AI isn’t going to take our jobs tomorrow, but someone who effectively uses AI probably will. Media operators need to encourage experimentation with AI by staff members.
#8 – The Cubs are awesome and Wrigley field is the best venue in all professional sports. (NOTE: This could be a somewhat biased Ryan opinion.)