The Local Media Association and the Local Media Consortium have announced that they are forming a strategic partnership to develop new economic opportunities and sustainable business models that support local journalism. The strategic partnership between the LMA and LMC will result in a more focused approach to creating value and economic benefit to local media companies.
The partnership will involve collaboration on initiatives important to the local media industry–such as consumer data and privacy, subscription models and ad revenue–as well as build on its cooperative relationship with its technology partners, which includes Google, Facebook, Amazon and many others. In addition, the two groups will co-host a joint conference in September 2019 focused on media transformation.
The LMA, an industry trade organization that supports more than 3,000 local media organizations, uses research, training, and experiential learning to maximize digital opportunities and help local media companies discover new and sustainable business models. The LMC, a strategic alliance of leading local media companies, provides economic benefit to its members by negotiating partnerships with tech and advertising platforms that provide increased revenue or cost efficiencies. Both organizations serve as thought leaders on a wide variety of topics that impact the media industry.
“When it comes to collaborating on how to help local journalism thrive, there is no better partnership than the LMA and the LMC,” said Matt Coen, chairman of the LMA board of directors. “While our goals are completely aligned, we bring very different and complementary skill sets to the table. By working together, we can better serve the industry and work on creating innovative and sustainable business models.”
“We’re excited to join forces with the LMA and build upon the great work of both our organizations,” said Chris Loretto, chairman of the LMC board of directors, “This will be game-changing for the industry because it combines the negotiating power of the LMC with the research and educational expertise of the LMA.”
The partnership is effective immediately and the two organizations are already exploring ways to provide an even bigger benefit to their collective members.