| Abstract: |
Market-oriented traditional media that emerged from China's news reform now
faces an industry crisis brought by new media. These traditional media
organizations have been exploring ways to innovate and converge with new
media. From 2014 to 2017, the author of this research tracked three
market-oriented media outlets in Guangzhou: two life-style magazines and a
media APP run by a metropolitan newspaper. Combining background document
analysis, in-depth interview and participant observation, this study examines
the process of establishing a new media business model aiming at sustainable
profitability. It is found that in the process of transition, the macro media
system unavoidably plays a restrictive role, while the motivation to innovate
and ability to execute on the part of media organization leadership are a key
factor. At the micro level, the original content production based on accurate
positioning of target users is positively linked to media performance and
profitability; and cross-media editorial operation may have an adverse impact.
From the perspective of new media attention economy, wisdom journalism and
wisdom marketing are equally important in attracting users. It is still too
early to say that any new media profit model is mature to established, but
this research finds that media convergence is a relatively smooth path for
"demassified" small media to achieve profitability. As such, demassified media
operation may become a new growth point or organic supplement in traditional
media organizations in their media convergence process. |