All of the articles in this weeks reading represent catering to a niche market, whether it is adapting the product or creating a new one. These are good examples of knowing your audience and what problems they are facing with news consumption and how these companies want to solve them by adapting to the changing field of journalism and an untrusting public.
The Monitor’s approach in the Niemanlab article about Monitor is something that I think is a unique approach to reporting the news that we need in a time of so much uncertainty. They don’t sugar coat any information but they are trying to provide a more positive outlook on all that is happening. They have adapted to the market as it has evolved. They tested the market and have changed their strategy and are attempting to give voices to the people that aren’t so vocal during this time. The biggest thing I took from this article was “It’s not an equal balance between positive and negative” that is something most people don’t understand, there may not always be an equal amount of facts to support both sides.
The recode article which talked about Quartz showed an extremely specific market that they have ahold of which they think would carry over to this new subscription service so they can make more money. If our businesses did become successful we would need to think about how can we give our consumers more once you already have ahold of them.
The other Niemanlab article, the interview with the CEO of New York Magazine, demonstrated exactly how you go about launching a new product even if you are a successful business. Even established companies worry about scaling a product too quickly. She explained their process to test the market and the part that we can relate too is testing your product with family and friends and keeping it small in the beginning, thinking about how to make your product unique so you are not remaking a product that has already been made.
Then the Fastcompany Buzzfeed article is the dream scenario for any start-up business and the ultimate way to both change with the market and find ways to pull in revenue from things other than ads. They were able to go from nothing to extremely successful, they knew how to pull the market into video news. The fact that they are also to tie in all other social media platforms and they will keep adapting as time goes on. He mentions that he knew people weren’t going to put down their phones, so he created a site with that in mind. It’s also unique in the sense that they focus on both entertainment and real news when most sites are one or the other.
This is the dream for any media start-up: to be able to be able to successfully fit in so many different markets and be able to adapt to the changing markets. Whether it takes 100 years or two, I think it is something we as start-up creators should look to as an example on how to read market trends and something to aspire too.