Amid all the excitement, though, the elephant in the room is the basic fact that not one of these publications has clear plans for future issues, advertising, or sustainable business models. Not yet, anyway.
But if anyone can figure out the business end of the new publishing paradigm, it just might be Michael Maness, the vice president of design and innovation at media conglomerate Gannett, which publishes USA Today.
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| Maness |
The Bold Italic hosts bimonthly microhood get-togethers around the city, the ticket sales from which partially fund the articles they publish. The site is clear of ads, and its first-person stories are read by 20,000 unique visitors a month -- not a bad number for an online niche publication. Maness says, "This could be the prototype we’ve been looking for."
So, let's see. Michael Maness spent over $750,000 in IDEO consulting fees, plus another $450,000 in website development fees, plus payroll over $2,650,000 and marketing of $250,000 for a grand total of $4,100,000 in the first year to build The Bold Italic. And now we have 20,000 people visiting this "blog".
ReplyDeleteOh, did I forget, according to the last p&l statement, their revenues for the year were $62,000!!! Their ongoing expenses are over $3 million a year!
The only thing Michael has done innovative is figure out how to suck up to Gracia and have Gannett pay his way to live the good life in San Francisco expense free to launch a blog in a major city that has fewer people visiting it than the Gannett Blog.
The other elephant in the room is that Michael Maness is not a 20 something sporting vintage attire. He is a washed up local newspaper sales rep from Wilmington, DE sporting the age lines typical of a 40 something.
ReplyDeleteThis article fails to mention the other 5,000 San Francisco magazines that start and stop each year. The writer can only name Wired and Google. Last I checked Google wasn't some edgy print product with a "publisher",
Finaly, I heard, from a very reliable source, that Michael Maness was leaving Gannett and his Bold Italic project was folding.
This is a great site. My son marvels about it constantly. I guess I like ink and paper but I begrudginly admit it's fun site.
ReplyDeleteFirst, this isn't a criticism, just a question ... What is the revenue model for The Bold Italic?
ReplyDeleteI don't dislike the concept, just need to better understand how it will generate a good profit.
Here's a crazy idea, come up with the business model first instead creating another "Field of Dreams" concept of write it and they will pay (but we're not sure how they'll pay.) Bold Locals? Is that a weasel word for sidestepping professional writers? Yeah.
ReplyDeleteHow many "specialty' publications will these idiots throw out there that dilute the core product (and steal whats left of its ad base? Remember Senior Scoop? On the Run?
And in typical Gannett fashion, Bold Italic trumpets numbers such as "20,000 unique visitors, which sounds impressive, but turns out to be hollow when it comes to making revenue. Are they clicking on ads? Spending money?
The golden rule should be "no more special products until you have the business model first." Or pretty soon you'll have no company left.
It amazes me how the haters jump on a guy and a product they no nothing about. And those expense numbers, not even close. Just another wanna be. You go Mikey. Give them the secret code word and walk through the hidden door!
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ReplyDeleteFor traffic context on Bold Italic's 20K in monthly uniques, Gannett Blog gets well above 10K monthly uniques.
ReplyDeleteWhat is Gannett's connection to IDEO? I first heard of them when the News & Free Press in Detroit "consulted" with them with the brilliant idea to stop home delivery four days a week.
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ReplyDeleteGannett has spent millions with IDEO. From Detroit, to an full week of executive training with the GMC, to Bold Italic, to USAToday Life.
ReplyDeleteEverything 7:57 said is a lie. Pure and simple. Sorry
ReplyDeleteI've removed 7:57's comment until I can edit it, then I'll repost it.
ReplyDeleteBut it appears to be true: Mary Specht is no longer with Bold Italic; looks like she left in June.
Where Did This Come From?
ReplyDeleteIn our research, we found communities are fragmented, and people are hungry for experiences that connect them to other people. Commerce is the glue that binds together culture and community, and local merchants make communities thrive. But existing local media often misses the point. Lots of resources give places to go, but nobody does a good job of explaining why to go there. The Bold Italic can give people a reason to connect with their communities.
This 7x7 story is a relatively rare example of a publication praising something Gannett-related. I found the article by chance. I wonder why Corporate didn't send me a link to it?
ReplyDeleteFollowing is an edited version of a comment posted by Anonymous@7:57 p.m.:
ReplyDeleteYou can get the real story about The Bold Italic's over budgeted spending spree (millions!) from MarySpecht. She was the little girl that left Gannett Digitslm to join Michael Maness on this mission.
Apparently, she left in disgust after it was revealed at how much of the Bold Italic was planned by IDEO. Not one original idea from Michael Maness.
I asked Mary Specht about that comment; in an e-mail, here is her response:
ReplyDeleteHa! "Little girl." You flatter me, folks.
I left The Bold Italic in June, but not in "disgust," or anything like it. If you'd like my honesty, it's simply that the product didn't hold much meaning for me. The world abounds with fascinating and important design challenges: life's too short not to seek the challenges you're truly passionate about, as cheesy as that may ring. To each his own.
Additionally, I'd dreamed of being a freelance user experience designer for some time. I'm glad I pursued it; it's been even more rewarding and fulfilling than I expected. There's a lively community for this kind of work here in the Bay Area.
Regarding your commenter's doubts as to the lineage of TBI: it is thoroughly the brainchild of Michael Maness. I spent three months with the team working out of IDEO's office to bring TBI into the world, so you can take my word on this one.
I wish TBI, 11g and Gannett the best. Mary
I do know Michael Maness from his time at the Springfield News-Leader. And I can tell you firsthand that he is a doofuss. Only in a corporate cult of personality like Gannett could he keep a job, let along get promoted to the heights he has reached. Ask those who covered for his ineptitude at his steppingstone newspapers, and you'll find out for yourself.
ReplyDeleteSo why cover for his failings? Exceptionally handsome, buys a round, he's got blackmail pix? What's the allure?
ReplyDeleteHey, 5:12 a.m.....It sounds nuts, but it happens all the time in Gannett. Another doofus and blatant BS artist FINALLY got cut at Westchester where it seemed that for years everyone except the top managers knew the guy was worthless.
ReplyDeleteI recall his discussing with the staff how he was going to transform The Journal News into a must read with his discerning design and photo skills...He was like the tailor for the king with no clothes.
Gannett has a long, long history of promoting incompetents so long as they do what they're told, don't make waves and agree with everything their immediate boss tells them.
It's how Gannett operates.
Gannett.....the Doofus capital of the world.
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ReplyDeleteIs it just me, or does Michael Maness look like a used car salesman in the picture posted on this blog?
ReplyDeleteBasically, Mary Specht is saying...Gannett ain't got shit for me to do and I ain't working on some stupid blog directed by Entrepreneur wannabe's at IDEO!
ReplyDeleteI don't understand the comments that continue to slam Maness after Mary gave him creative credit for TBI. She sounds like a straight-shooter who probably would have chosen to avoid blasting Maness by simply ignoring Jim's email. Instead, her voluntary response adds a ring of truth.
ReplyDeleteI don't know anything about Maness' abilities. I once saw the guy give a TBI presentation. He and it were good. But Mary's reason for leaving is troubling because it sounds like Maness should have figured out how to keep this talent.