The online presence that the new owners are planning is a justified form of keeping Eastport News safe and preventing the organization from disappearing under the influence of modern media trends. Mierzejewska et al. state that since the early 2000s, when the Internet became a part of human life, “circulation and advertising revenues for many newspapers have declined,” which can be explained by the ever-increasing demand for online resources.
The theory of competitive displacement for market presence has shifted its focus towards innovative solutions, and traditional forms of media content, such as print newspapers, have faded into the background under the influence of convenient digital counterparts.
For Eastport News, whose circulation has dropped by 40% over the past decade due to this trend, increasing readership through an online presence is an objective solution to retain target audiences and attract new readers. As a result, Westpress’ business approach is relevant as a strategy that can help prevent Eastport News from losing its market position and ensure stable public interest.
From a profit perspective, such a solution could help support Eastport News’ business not only within the new company but also as an independent organization. Despite the fact that Mr. Byline has been running this family-owned business for decades and adheres to conservative views on management and operational approaches, the movement toward innovation may be inevitable, and this is the case.
Advertisers turn to Eastport News less often, while advertising is one of the stable and large sources of income. The amendments that have taken place in the operating mode, particularly a change in the format and a decrease in the frequency of publication, prove the need for innovation.
Creating conditions for entering the media market through the establishment of an online platform can preserve the built business and attract a new audience, including young people who prefer to receive news, including local ones, via the Internet. As a result, from a benefits perspective, the business reorganization has an objective background and is aimed at keeping Eastport News competitive.
For Westpress, the decision to strengthen its online presence in the marketplace is a profitable option for a number of reasons. Firstly, being more active on social media accounts is a handy tool to attract more readers. Secondly, the transfer of several employees to remote work is a solution that allows saving on additional costs, for instance, renting premises.
Thirdly, online publishing can help generate objective consumer feedback, which, in turn, is valuable in maintaining interest and meeting constantly changing customer needs. All these aspects of the new business regime demonstrate the benefits of expanding the online presence, and the Westpress case proves that online media activity can pay off if it is well organized. Therefore, the aforementioned advantages speak of the benefits of the planned practice from a business perspective.
For Eastport News, these changes will be new since its current owner is not an online advocate and has never promoted his business on the Internet. In addition, the affection for Mr. Byline is an argument for his subordinates, influencing their acceptance of the objectivity of the organization’s proposed online presence.
However, in this case, the main emphasis is on the sustainability of incomes that have fallen during the digitalization of the media market. By turning to the online space, Westpress does not seek to destroy Eastport News but, conversely, gives this organization a second life. In a highly competitive and flexible environment, due to the broad opportunities of such a media profile as news publishing, the optimization of workflow seems a must. Thus, the plans for the future are justified from the perspective of business benefits.