Another sad story
This time from Prague.
The PPF group has ended its local media project as it has sold its PPF Media company to investor Richard Benysek.
We were told that this was the future.
There were “study-tours” for editors and publishers around the world to “see the future” of citizens journalism and hyperlocal news.
But yesterday the hype ended.
They were making money selling coffee and cakes, but losing money with the news products.
“The pilot project, during which the PPF Media websites operated hyperlocal news and published in seven regions of the ČR, has not complied with the parameters of commercial return on the PPF targets”
In May 2009, PPF launched Naše Adresa, which then consisted of seven local weeklies and 23 websites in three regions of the Czech Republic, covering about 4 percent of the country’s households. A year later, it reported printing more than 30,000 copies of the 24-to 32-page tabloids at its offset printing plant in Brno. In the future, Naše Adresa planned to grow to 230 local weeklies with a circulation of 500,000 and 700 hyperlocal websites, covering 14 regions and 75 districts of the country.
It had great marketing, good coffee but served decaffeinated journalism, and perhaps this was the real problem.
As I said a few days ago in this blog, “coffee, bars and newspapers” is a good cocktail, but you need to deliver more than marketing hype.
Tags: Coffee, Czech Republic, Naše Adresa, PPF Media, Prague, Richard Benysek, bars and newspapers", citizens journalism, hyperlocal