With an aging base of readers, local newspapers need to attract a new audience. Using its knowledge and experiences from the media group, Stampen Media is developing new products and attracting new readers to ensure the survival of local media.
At the first day of the INMA European Media Conference in Budapest, Hungary, Johanna Öberg, chief executive officer of Stampen Media Group in Sweden, provided specific examples from Modern Women Media (MWM), Sweden’s largest digital network targeted toward a female audience and a part of Stampen Media.
The ecosystem of Stampen Media consists of content media, print, outdoor, engagement, and social media. The majority of Stampen Media’s revenues still come from print (76%), but the company is active in most media segments on the Swedish market, with a rapid growth of non-print segments.
Stampen is exploring new media channels that reach and are relevant to readers and customers. Hallandsposten is published in a town with 60,000 inhabitants and an aging subscriber base: Almost one-third of the readers are retired, fewer than one in 12 is under 25 years old, and one in five subscribers will presumably be dead in five years.
On the other hand, MWM targets mostly younger audience members (60% are under 45 years old), and reaches more than two million women every week. Its weakness is the lack of presence in Halmstad (home of Hallandsposten) to reach local businesses.
Cooperation between those two companies opened up new business opportunities. MWM, for example, has a number of blog profiles from which Hallandsposten can recruit and use in its own channels. It also creates events to attract younger audiences. MWM engages those audiences through social media, whereas Hallandsposten lacked a social media presence and strategy.
Thanks to MWM, two local “heroes” (the area’s most popular bloggers) were found, and they quickly became brand ambassadors. Hallandsposten, together with MWM, prepares the event of the year for young women, the Social Media Party. This is a full day of inspiration, seminars, talks with experts, and workshops – everything with a focus on social media.
The cooperation helped expand new business by attracting new clients, providing visibility on social media, and allowing the use of influencers to collaborate and work on future projects with them.
Öberg summed up her presentation with three key reasons why they are doing this. Thanks to cooperation with MWM, Hallandsposten has managed to:
- Create new revenue channels in a way not easily copied by competition.
- Reach new audiences for both platforms.
- Find new local stars that can be built into national stars. They are the future of the company.