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Bogota, Colombia, Feb. 10, 2016 – Almost 40 top Colombian digital news media executives attended a Piano workshop today on developing premium product strategies. The main focus of the workshop was showing the group how to approach and ask their audiences to pay for access to content on both desktop and mobile. In attendance were executives from top national Colombian news sites, specialized publications and top regional sites, including those from Medellin, Cali, Bucamaranga, Cartagena and other cities from the interior of the South American nation.
The executives gathered at the Bogota headquarters of the Colombian newspapers association, Andiarios, for an all-day session led by Piano’s Global Director, Talent & Culture Kweli Washington, who informed the group about global revenue trends in digital media and the need to develop alternatives to advertising-based revenue.
With these trends in mind, several Colombian publishers requested anonymous audience analyses to identify characteristics within their website audience consumption patterns with an eye to designing new commercial strategies tailored to the opportunities afforded in each case.
Kweli also talked about how declining CPMs, the spread of ad blocking software and successful subscription strategies have made it incumbent upon publishers to begin to, or re-evaluate alternatives to their digital business models, most of which are based entirely on advertising.
Later, Piano’s Latin American Sales Director, John Reichertz, addressed the gathering, stressing the need to urgently confront the challenge posed by the smartphone “revolution.” Just as the Internet drained revenue from print publishers’ coffers earlier in the decade, mobile is now undercutting existing digital business strategies, further impairing revenue streams.
According to Andiarios, Colombian publishers reported that about 50% of their overall digital traffic comes from smartphones, a percentage that is growing daily. Nevertheless, mobile traffic, like most mobile traffic worldwide, generates only a small fraction of overall digital revenue.
Reichertz also demonstrated the cutting-edge sales and marketing capabilities of Piano VX, the SaaS commerce-for-content platform and Composer, Piano’s sleek new drag and drop interface that lets publishers create tailored experiences for different audience segments and produce personalized offers to specific audience segments like mobile or search and social referral traffic.
Piano would like to thank all those who attended the workshop for their time.