Don’t forsake the hyperlocal news approach just yet. Poynter has details from a panel at SXSW:
Reports about the death of hyperlocal have been greatly exaggerated.Local news sites continue to pop up across the country, despite a high churn rate among small local sites. In 2007, one in eight Americans lived in a city or town with a local blog, panelist and Placeblogger Founder Lisa Williams said. Now, closer to half of Americans live in a city with a local blog. Data from Placeblogger, an index of local blogs, show that between 50 and 60 percent of the local blogs indexed by the site don’t make it, Williams said.
Williams also pointed out they’ve indexed 4,100 independent hyperlocal sites, small businesses with typically only a few employees producing a local news product.
As in all small businesses, these projects run the risk of a high failure rate. The problem is entrepreneurial: Most don’t have a revenue model. Indeed, the data in this panel revealed only 4 percent of local and community sites have an advertising rate card.
Running your own brand requires you to be a businessperson as well.
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