The impact of product thinking on news media company organisational structures, operations, and innovation is the focus of a new report released today by the International News Media Association (INMA).
“How Product Is Leading Media’s New Growth Path” features insights and observations from INMA Product Initiative Lead Jodie Hopperton along with case studies from The New York Times, Ringier Axel Springer, Singapore Press Holdings, Asana, The Financial Times, and Yahoo News that illustrate how product is successfully transforming traditional structures and operations of news media companies.
The new report focuses on how product is rapidly changing news media companies and what specifically news organisations need to do to create, deliver, and innovate the best possible products for their audience.
Report author Jodie Hopperton has worked with technology start-ups in a variety of roles over the past 15 years. As head of the INMA Product Initiative, which launched in January, she investigates the evolving discipline of product and how news media companies can use it to delight customers and grow their business.
“Product will continue to play a vital role in the success of the news media industry of the future,” Hopperton says. “Product directly touches many parts of an organisation but mainly works across editorial, technology, design and user experience, data, marketing, and revenue.”
Report takeaways include:
- Product people have diverse job titles and product teams may sit in a variety of departments within a news organisation; they may be in technology, digital, editorial, marketing, or report directly to the CEO or publisher.
- Regardless of the organisational structure, all departments contribute to product, and much of the product team’s success hinges on culture and communication.
- News media leaders believe that product is important, but fewer than half of them feel they have a good understanding about the role of product.
- A data-driven approach is essential to validate decisions made about product.
- Introducing product thinking is not a simple tweak or restructuring; it is an organisational change that requires buy-in across the board.
- It is critical for product to have a voice in the c-suite, and CEOs must provide clear organisation goals to ensure that all departments are pulling in the same direction.
The report is designed for media company product managers, strategists, marketers, data analysts, revenue specialists, editors, and CEOs.
“How Product is Leading Media’s New Growth Path” is available for free to INMA members and for purchase by non-members at www.inma.org/reports.