About the Media Subscriptions Town Hall

Since 2020, INMA has hosted the Media Subscriptions Town Hall to showcase how news media companies can transform to digital and subscription-first.

The sad reality is that, according to research by BCG and McKinsey, 70% of digital transformation efforts are falling short.

In his new book, “Digital Transformation Roadmap”, professor David Rogers of Columbia Business School writes that the key reasons for failure are:

• Treating digital transformation as a tech project, not rethinking the business model.
• Not adapting the value proposition and operations to the new revenue model.
• Viewing transformation as a finite project versus continuous change.
• No shared vision across the company of the "why" and "where”.
• Clinging to traditional top-down planning versus rapid testing.
• Maintaining rigid systems that stifle new initiatives.
• Underinvesting in long-term capabilities: tech, talent, culture.

At the INMA Media Subscriptions Town Hall, together with fellow news executives, academics and experts from Mather Economics, we want to show the proven path to success.

• Rally around a vision: Customer-focused, not inward-looking. Articulate where you're heading and why.
• Iterate quickly: Short-term plans with continuous adaptation based on tests and learning.
• Empower teams: Bottom-up experimentation and innovation versus top-down direction.
• Communicate constantly: Lead by example. Remove barriers so people can drive change.
• Accept cultural change: Be open to new ways of operating.
• Focus on readers: Build your strategy around evolving customer needs.
• Move fast: Digitally transform your business model, strategy, and capabilities rapidly.
• Test and adapt: With empowered, fluid teams and structures focused on learning.
• Make it continuous: Transformation isn't a project, it's a new way of operating.

The success in digital subscriptions comes from great journalism, data analytics, marketing, and product but even The New York Times struggled with digital transformation to subscription-first for years before figuring out it requires organisational change.

What were the breakthroughs according to prof. Rogers?

• An innovation report catalysed focus on dysfunction holding them back.
• They got serious about a digital subscriber-first business model.
• Laid out a clear vision and strategic priorities.
• Built capabilities to test ideas rapidly.
• Evolved more flexible structures.
• Invested in data infrastructure, talent, culture.
• Empowered people to collaborate in new ways.

In an interview with INMA, The New York Times’ Chief Growth and Customer Officer, Hannah Yang, confirmed that agile organisation and focus on experimentation led to a fourfold increase in digital subscriptions sales.

Join this INMA Media Subscriptions Town Hall to plan a roadmap for your business transformation and accelerate your subscription growth!