Shifting Tides in the Media Business with Axios’s Sara Fischer
Apr 4, 2024
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Axios senior media reporter Sara Fischer discusses the state of the media business including TikTok's success, the rise of women's sports due to social media, The New York Times' model, and future of print magazines. They delve into the challenges faced by media brands, the evolution of legacy media and new startups, and the complexities of media business models.
Distinctive journalism is crucial for success in the media business.
Women's sports are booming due to social media influence.
Legacy media brands are adapting to new market dynamics.
Deep dives
Shift in Media Business Models
Amidst the evolving media landscape, a key point highlighted is the shift in media business models with a focus on distinctive journalism being rewarded in the market. The discussion revolves around success stories like The Atlantic's sustainable business model based on strong journalism, contrasting it with the diverse strategies required for legacy brands such as Time to adapt to changing market dynamics. Sarah Fisher's insights shed light on the need for media companies to balance between quality journalism and revenue generation.
Optimism Amidst Chaos
The podcast delves into optimistic trends within the media industry, emphasizing positive developments like distressed properties finding better stakeholders, talent gaining flexibility in branching out across platforms, and the rising momentum in women's sports, leading to increased market interest. Furthermore, discussions touch on the potential roles of AI in shaping future media trends and the significance of packaging and marketing narratives in driving viewer engagement in sports coverage.
Challenges in Cable Business and Advertising
Challenges in the cable business and advertising sphere are addressed, highlighting the inevitable transformation from cable to streaming platforms with a focus on the influence of sports rights contracts and the flow of advertising revenue. The narrative also reflects on the complexities faced by companies in maximizing revenue in ad-supported streaming services amidst increasing competition and the data-driven nature of the industry.
Evolution of Media Outlets
The podcast delves into the evolving landscape of media outlets, contrasting the strategies of Forbes, The Atlantic, and Time. While Forbes emphasizes branded summits and diverse lists like the Forbes 30 under 30, The Atlantic focuses on heavy journalism and subscriber growth under a philanthropic owner. Time, under new leadership, shifted its approach to prioritize immediate profitability over journalistic investments.
Media Industry Challenges and Future Trends
The conversation shifts to the challenges and future trends in the media industry. Discussions encompass the growth of niche platforms like Semaphore and Puck, emphasizing the importance of hyper-niche content for future success. The impact of artificial intelligence on media relationships, antitrust issues, and the evolving role of platforms in content distribution and advertising are also explored.
With Alex still on vacation, Axios senior media reporter Sara Fischer joins Troy and Brian to break down the current state of the media business, including why TikTok is winning, the death of aggregation as a competitive advantage, why social media is a major reason women’s sports is one of the hottest segments, The New York Times as an extensible model and the future of print magazines as marketing pieces.