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Staying Digitally Ahead : Building Self-Sustainable Newsrooms
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Anagha Ganesh
3:04
Hello and welcome to Digital Conclave 2021, organised by Digital Journalists Association of India. Today's panelists are Anuradha Parekh, founder of The Better India and Shradha Sharma, co-founder of YourStory.
3:38
Shradha Sharma opens up the discussion by answering on the important skill set needed to build a sustainable newsroom.
3:41
Sharma elaborates that upon starting a profitable business every company launches its own media entity. Sustainability of any business is that one creates from the first day and spend less than what is earned.
3:42
Shradha Sharma
3:44
"In the Indian context, media is not seen as an investigator business. It’s also kind of fair. But digital media has changed the entire landscape. Yet from a sustainable point of view, you have to build a solid funding base," adds Anuradha Parekh.
3:52
"I didn't think of an audience when I started YourStory in 2008, back when startups wasn't even a popular word. I was just convinced that stories of young entrepreneurs and creatives need to be told. I believed in this," explains Sharma about how her own conviction lead to the creation of YourStory.
3:58
Parekh further adds that both of them started at the same time with same internet challenges. Not much of mainstream attention was received. It is important to start with nuclear audience. These people are your brand ambassadors.
4:09
4:10
The panel moves towards the future investment and plan in terms of technology. Parekh emphasises that in digital media one cannot ignore technology. Investment in technology is extremely important. It helps to skill up and grow quickly.
4:14
4:17
“To come out as digital media starts ups in a space dominated by corporate media and to take a positive stand is a multi-strand approach. While we have been profitable till now, we adapt to the changing media trends. Keep updating ourselves all the time. You need to adapt to changing customers," elaborates Parekh on the revenue channels and bids required for sustaining the media model.
4:18
4:20
The cause has to be very clear when providing content to your audience. Do you agree?
Yes (66.7% | 2 votes)
 
No (33.3% | 1 vote)
 
Total Votes: 3
4:22
Discussing on the assurance on the sustainability of their newsroom, Sharma adds that she knew that if the model didn't work in the first year, a different option needed to be figured out. "In the absence of a fallback option, one has to become self-sustainable," she opines.
4:25
"I think Shradha and I have a very similar mindset. The mindset has to be from the beginning to make money and not live off charity. I had to do whatever it took to get to that stage," says Parekh.
4:28
4:30
"We can find a plug outside that solves all our tech problems. In-house if when all odds doesn’t work," answers Parekh to an audience member on the mode of technology sourcing.
4:34
"We are more in content space and don’t report much on political news," concludes Parekh.
That's all from the panel. Thank you for joining us.
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