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Posts Tagged ‘Elizabeth Crisp’

reveille logoUpdate: The numbers used in this post were preliminary numbers. I will update after we get the final numbers.

The Daily Reveille and other LSU Student Media products need a new strategy and stronger revenues to continue producing excellent products and providing valuable experience to our students.

I blogged earlier today, in response to a story in the Advocate, about our process for developing a new strategy.

The Advocate’s reporter, Elizabeth Crisp, asked me for revenue figures for her story. I could not provide the figures in time for her story, but here’s what I emailed her this afternoon:

Total Student Media revenue for FY 2015 (all numbers are FYs): $1.4 M. Total operating loss for 2015: $128K. (The loss is covered by a rainy day fund whose name I do not remember, but this was a huge chunk of its balance.)

2014 total revenue for Reveille: $712K, including $219K in student fees. Total expenses: $854K. Loss: $142K

2015 total revenue for Reveille: $563K (a drop of 21 percent): Subtract the student fees, which were $219K both years, and the drop in advertising was 30 percent. Loss: $283K.

I am optimistic that we can turn that around with some new products and with a successful new professional leader for our advertising and marketing teams. And I had some pleasant news on the revenue front this week:

Our Tiger Survival Guide, a print product mailed to incoming freshmen and distributed in the dorms, brought in $14,759 in sales. Last year we got $7,303 for this product and we had budgeted $10,650 for the sales this year. We’re still down from $15,128 in 2013 and $21,671 in 2012, but we are celebrating a significant, if small, change in direction. (These are not fiscal years, since the product comes out in the first month of the fiscal year, the summer before; I had the fiscal-year numbers in my message to Elizabeth, but clarified them here.)

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Advocate storyLast week Elizabeth Crisp of the Advocate emailed me saying she wanted to write a “story about the direction things could be heading and your thoughts on the future of student media at LSU.”

I had four reactions in rather rapid succession:

  1. Why do I have to deal with this already?
  2. What took so long?
  3. For more than 20 years, I have said it’s an important experience for journalists to be the the subjects of journalism. I can’t complain (much) when it happens to me.
  4. It must be time to widen the conversations we’ve been having internally for more than two months.

Elizabeth’s story generated an immediate and strong reaction among alumni and staff of the Daily Reveille, because the focus of her story was our consideration of cutting back the frequency of print publication.

If you want to read Elizabeth’s story first, I hope you’ll come back and read my explanation of what’s going on and how LSU Student Media alumni can participate. But I’ll post the link again at the end if you’d rather hear from me first.

My student media consulting

I’ll start with some background: I have been advocating for years that professional journalists and news organizations need to move more swiftly to embrace and figure out their digital future. Because I harp a lot about linking, I thought about hyperlinking “advocating for years” to an earlier post. But that would just have to be my home page. More than anything else, this blog has been about the skills, tools, ethics, business and leadership of digital journalism. (more…)

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