Special Report: Publishers’ Outlook 2011
PE: Will print and/or digital ad revenue rebound?
Pierce: I do think we will see some increases [in] print …, but that the digital side will increase more. …
But … people are rediscovering that print actually works. I think there was a rush to move to digital … with mixed results, and now they … want to have a more balanced marketing plan.
PE: Will revenue from paid content (paywalls, subscriptions, data, webinars, white papers, etc.) increase?
Pierce: I 100-percent expect revenue will increase from paid content, [including] all the things you list. It's a big growth area.
PE: What's an important new revenue stream for you near-term?
Pierce: We just launched … a new online directory for legal technology—a membership-based registration product. [You also need to register for the sister (news) site], and you will get beyond a firewall into some better content. There's money in the data. But are we going to have more paid products? Absolutely.
PE: What's on the mobile horizon?
Pierce: We are coming out with American Lawyer on the iPad. Corporate Council and Law Technology News will follow fairly quickly, and we do believe that mobile apps and so forth will continue to grow. … Our feeling is, "Let's get in there and … see what our readership is looking for [and] find ways to monetize it."
PE: What will your biggest challenge(s) be in 2011?
Pierce: No. 1 is … the speed at which we roll out new products, revenue streams, ways of … engaging with our communities. You can never go fast enough. …
The second thing is the pace of transformation. We, like a lot of media companies, are transforming what we do to be more digital than print, and so the speed at which that transformation takes place is something I'm always cognizant of because it's challenging to get people to move quickly. PE