News Take Episode 112: Lessons in Practicality from The Daily Memphian: "A Lot of People Don't Know We're a Nonprofit"
Guest: Eric Barnes, The Daily Memphian
What are some of the things to consider when starting a local newspaper? How can you be nonprofit and still operate like a for-profit newspaper? How did you attract subscribers in a competitive market? What went better than you expected and what didn't go as well? What have you learned about finding the best revenue mix? What should someone thinking about starting a local newspaper know before they get started?
In this episode of News Take, News/Media Alliance President & CEO David Chavern talks with Eric Barnes, CEO of The Daily Memphian, a nonprofit local newspaper in Memphis, Tennessee, about his experience over the last four years launching a nonprofit local newspaper. Eric walks takes us from the very initial discussions and fundraising steps, to deciding whether to publish a print edition or be a purely a digital news publication, to how they decided what to charge for subscriptions and how they structure their organization to allow them to employ 40 newsroom staff (Hint: It's not on pure philanthropy!) He shares everything from how they took cues from the community to chart a practical course for advertising, fundraising, and reporting; to why they don't do sponsored content and scaled back on podcasts; to how they found a balance that is working for them. This must-listen primer on launching a nonprofit digital news publication is full of practical tips and takeaways for anyone wanting to run a news publishing business!