Categories: OLD Media Moves

Why Quartz and The Economist are both successful

Jasper Jackson of The Media Briefing writes about the successful business models used at two different business news organizations — Quartz and The Economist.

Jackson writes, “Many media businesses have struggled to keep pace with technological change, shifting consumer behaviour and a volatile ad market.

“Rossi describes The Economist as a ‘fast follower,’ taking best practice from other media businesses and different industries. That incorporates hiring from areas such as ad agencies, while instilling a culture across the business where staff are keeping an eye on what’s going on:

‘There’s not always a benefit in speed. We try and work out how you would do something in the context of The Economist brand. It’s about understanding what is going on in the markets and as much as anything it’s about bringing in the right people. We are hiring agency people. We are hiring people who don’t necessarily come from media.

‘I think it’s everybody’s job to keep track. On the editorial side we have people in the product development team who are actively talking to people about new technologies. How to deliver content, how to deliver video. We have dedicated resources internally. But I think on the commercial team everbody’s looking out the window. It comes from a realisation you’ve got to be experimenting and try stuff.”

“As part of that experimentation, Rossi says the Economist is prepared to invest in new products that might not be be big revenue generators on their own, but help expand the Economist brand and potentially drive subscriptions to the magazine. One product that looks like it will perform that role is The Economist’s new Espresso daily roundup, which comes in app and email format and takes a few cues from Quartz’s own successful daily briefings.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

Is this the end of CoinDesk as we know it?

Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

13 hours ago

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

2 days ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

3 days ago

FT hires Moens to cover competition and tech in Brussels

The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…

3 days ago

Deputy tech editor Haselton departs CNBC for The Verge

CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…

3 days ago

“Power Lunch” co-anchor Tyler Mathisen is leaving CNBC

Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…

3 days ago