In this piece, we look at the current state of journalism and speak with two respected journalists to talk about the future of their profession in an age where content is flooding the internet on a daily basis.
A combination of declining print readership and a rapidly changing online landscape has created a level of uncertainty over the future of journalism.
Yet, despite this, the average person is exposed to more information now than ever before, with social media platforms becoming hotspots for citizen journalism.
Theoretically, anyone holding a smartphone can share their version of events and become a news source.
The significant decline in newsroom jobs, with a 25% drop between 2008 and 2020, highlights the ongoing transformation of the journalism industry.
Meanwhile, legacy publications have rushed to build a digital presence to replace the decline in revenue from print, resulting in a greater number of clickbait articles appearing.
There are also many other headaches for the executives at these publications, from changes in regulations around third-party cookies and ad revenue to the persistent threat of misinformation.
We’ll break down some of the different elements that publications face, with insights from seasoned journalists Ed Walker and Harry Harris.
Dealing with a fragmented audience
With so many ways for people to consume information, it’s becoming increasingly challenging to identify where your target audience gets their news and what publications can do to attract new users.
The Local Media Survey revealed significant changes in how people access regional news. Here’s a breakdown of the most popular methods:
● Social media (54%)
● TV (53%)
● Word of mouth (50%)
There’s a significant drop before you come across the websites of broadcasters and publications (35%) or printed newspapers (22%), proving a clear shift in behavior toward how we gather news.
Furthermore, a separate study by Ofcom, the UK’s communications regulator, highlighted the change in behaviors, especially when looking at the younger generation. Perhaps unsurprisingly, almost half (46%) of those aged between 16 to 24 say that social media is their most important news source.
“The landscape is becoming increasingly fragmented,” notes Ed Walker, Director at Alma and formerly Audience and Content Director at Reach PLC. “Some people will use multiple channels, others will be single-channel readers – and that fragmentation is only going to accelerate.
“The days of a single mass distribution channel in digital, when Facebook was rising rapidly and the dominant distribution platform then consumption was fairly linear online, but that’s changed dramatically in the last 18 months.”
This fragmentation challenges publishers to tailor their content and distribution strategies to meet various preferences.
The cookie jar is almost empty
To add more complexity to an already difficult situation, the commercial teams at publications across the country must handle the deprecation of third-party cookies with the utmost care.
The move is aimed at protecting user privacy, but it will drastically change the way advertisements can reach users and how newspapers benefit from ads on their websites.
According to the Advertising Association, despite a 15.9% rise in overall ad spend, data shows an overall decline in money spent on UK news publications, both national and regional.
This shift has affected how publishers consider advertising, a crucial revenue stream. “Third-party cookie deprecation will make first-party data more valuable,” added Walker.
“We may see more direct deals and direct deals focused on reaching and amplifying messages on specific distribution channels.”
With Google announcing another delay to the phasing out of third-party cookies, publishers that have not already taken steps to build stronger relationships with their audiences and collect first-party data may prioritize this now.
This should, in theory, allow them to provide better ad experiences for their audiences once they can no longer rely on tracking data from third-party cookies.
Searching for sustainability and security
The decline of local journalism paints a grim picture, especially in the UK, where independent high street businesses – once vital sources of local advertising – have disappeared.
Additionally, many businesses that might have previously looked at print advertising have now turned to other forms of advertising or self-promotion marketing activities, leaving some local publications struggling to survive.
For example, last year, Reach PLC closed 13 local newspaper websites due to a drop in demand.
And in the US it’s a similar outlook, with an estimated average of 2.5 news publications closing per week in 2023, according to research.
Away from his duties as SmartFrame’s Sports Development Director, Harry Harris is an award-winning sports journalist with decades of experience at publications such as the Daily Mail and the Daily Mirror.
Harris acknowledged the harsh reality of the current climate of local journalism and explained that many local publications “have been hit hard by the high street recession.”
He continued: “Being acquired by major players has become one of the only ways they can guarantee survival. This, however, has resulted in a loss of local identity.”
Subscription models: Savior or temporary solution?
The subscription model has often been seen as a potential solution to this, representing a viable replacement for the losses to advertising and print.
Recent research from the Reuters Institute and Oxford University found that 80% of media leaders surveyed said subscription models and membership-type agreements will be an important revenue stream, ahead of both display and native advertising.
Subscription models have not always been as fruitful as expected, although there have been notable success stories, such as the likes of The Athletic and Mill Media.
However, most audiences accustomed to free online content are likely to hesitate before starting to pay for a service they can usually access without charge elsewhere, especially when there are several such options available.
Harris highlighted this public resistance: “The vast majority of the public believe access to information on the web is free and should remain free.”
Balancing valuable content with convincing audiences to pay for it remains a major hurdle for publications of all sizes.
What about the journalists themselves? What does their future look like?
Despite the challenges, the core function of journalism – to inform and entertain – remains as vital as ever.
In this age of information overload, audiences crave reliable sources they can trust.
Harry Harris emphasized: “A journalist’s role will never change. It’s to bring their audience news, features, and opinions with the ability to inform and entertain.”
However, the skills required to succeed in this new landscape have evolved.
Journalists must become specialists in their fields, offering unique insights and perspectives, but also be able to relay this in different ways.
Having the ability to navigate the digital world and curate content effectively across multiple platforms is essential for maximized engagement.
AI won’t replace journalists, but it can improve them
Artificial intelligence is here to stay, and while it might be a double-edged sword in the world of content creation, there’s no doubt it brings with it new challenges and opportunities.
While social media and AI-generated content have fueled misinformation and even defrauded advertisers, these same tools can also enhance journalists’ work.
Walker explained: “From recent conversations I’ve had with different publishers, their focus is on taking AI tools and training them to do something bespoke within a newsroom. This includes getting lower-value stories online in a more efficient way, or teaching them how to write in the style of a publication in order to reshape national content into the specific style and interests of a brand’s audience in a particular region.”
To do this, the upfront work on the prompts and training of the bots themselves is key.
Another way in which these tools can support journalists and publications is by automating and streamlining heavier tasks like data analysis, which will then allow journalists to dedicate more time to critical stories.
Walker added that AI tools can also assist with multimedia content creation, a critical component of engaging digital audiences.
“I think over time it will also help to make multimedia content quicker and easier for newsrooms to output on a greater scale e.g. captioning of video and audio content,” he said.
Conclusion
Declining trust, revenue shortfalls, and an increasingly fragmented audience are just some of the threats to the future of publications.
And while AI has the potential to be a valuable tool for journalists and publications, it has already accelerated the spread of misinformation.
Ultimately, the future of news publications is dependent on their adaptability.
Many revenue models for publications become outdated quickly, and publications that don’t take the time to truly understand their audience will struggle in the long term with changes in online behaviors and advertising regulations.
Though there are multiple opportunities to create new revenue streams, the fundamental principles of journalism remain unchanged – and people will always require reliable information.
Publications can move towards more sustainable models by embracing data-driven audience targeting, building trust through high-quality, relevant content, and leveraging new technologies to improve efficiency.
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