What we learned in 2024 about the business of news
Dec 19, 2024
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The podcast dives into the transformative year of 2024 for news publishers, exploring revenue trends and newfound optimism for 2025. It discusses the crucial role of engaging loyal audiences amidst rapid technological shifts. Insights on Donald Trump's enduring influence highlight the tension between sensationalism and media recovery. Listeners encounter skepticism around generative AI in search engines, while the rise of premium paywalls signals significant changes ahead. The conversation wraps up with a light-hearted look at future unpredictabilities in the media landscape.
In 2024, news publishers learned that focusing on cultivating dedicated audiences, rather than just chasing large numbers, proved more beneficial.
The evolving media landscape highlighted significant shifts in content distribution due to regulatory actions and changing consumer preferences, especially among younger demographics.
Deep dives
The Shift Towards Direct Engagement
The media landscape is increasingly emphasizing the need for publishers to cultivate and engage with their core audiences directly. This shift comes as consumer behavior evolves, particularly with younger demographics favoring platforms like TikTok for search over traditional news sources. Publishers are realizing that having a smaller, more dedicated audience can be more beneficial than simply chasing large numbers. For instance, The Mail's introduction of a paywall aimed at fostering loyalty has reportedly exceeded expectations, demonstrating the effectiveness of this strategy.
The Role of AI in Publishing
While artificial intelligence has generated considerable buzz in media circles, its impact on publishers remains limited at present. AI tools are being used to enhance user engagement, such as through dynamic paywalls and content summaries that can help retain subscribers. Companies like NewsQuest are integrating AI to assist reporters, allowing them to focus on more original journalism. However, there are concerns about the quality of AI-generated content, as instances of inaccuracies and AI hallucinations present significant challenges.
Predictions for 2025 and Beyond
Looking ahead, the landscape of online content distribution is expected to undergo significant changes, influenced by regulatory actions and shifts in consumer preferences. One notable observation is the rapid audience migration from platforms like Twitter to newer players such as Blue Sky, highlighting how quickly public interest can shift. Furthermore, ongoing legal pressures on journalists and newsrooms could reshape how news is reported and consumed, especially in the political arena. As the competition heats up with new AI-driven search tools, the traditional dominance of platforms like Google may face serious challenges, making adaptability crucial for publishers moving forward.
The Press Gazette team look back on the big themes of 2024 for news publishers and reveal what they have learned.
They also share their predictions for 2025 which include: more paywalls in the national media, an economic upturn all around and big changes in the tech platforms which readers use to discover their news,