In an attempt to combat decreasing sales in print, many newspapers tried to add a digital operation to their print entity, but the Deseret News didn't follow that trend, according to the Financial Times.
In 2009, the Deseret News created a separate digital entity after noticing that newspapers "saw digital as more of a threat than an opportunity," Chris Lee, Deseret News publisher told the Financial Times.
To cut costs, the group integrated its print, television, radio and online newsrooms. The group predominantly focuses its coverage on six different areas it feels it can beat the competition with, according to the article. Some of those areas include family, education and faith.
The group's online revenue has gone up by at least 50 percent for three years in a row, according to the Financial Times. Last year, the group's digital revenue rose by 65 percent, and more than 75 percent in 2010.
In the past, newspapers used classified advertising to as a great source of revenue. That revenue source has become "almost irrelevant," Lee told the Financial Times. "The huge operating margin was a subsidy for the newsroom," Lee said. "News gathering has never been a great business."
Click to read the entire article at the Financial Times.
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