Industry News
SELECTED ITEMS OF INTEREST TO THE MEDIA COMMUNITY
Are We In a News Apocalypse?
April 5, 2024
NO! These are very tough times for many in the journalism business but there are bright spots to be considered.
The tough stuff:
- Prior news “winners”--Vice, BuzzFeed, Sports Illustrated are failing
- Most newspapers continue to shrink
- Print and digital advertising face price pressure and market share for news erodes
- AI’s impact on search will no doubt eliminate some referral traffic
- Younger consumers do not prefer to consume news in text form
- Facebook is abandoning news
The good stuff:
- Readers are willing to pay for news where they see value
- Philanthropic support for news is increasing
- More and better work is happening in video and podcasts
- Promising prospects for meaningful stream of payments from generative AI providers
- State and local government support appears likely
Read more from Richard Tofel’s Second Rough Draft:
#strategy #media #consulting #journalism
