Mark Penn, CEO of Stagwell Group and a seasoned political strategist, shares insights on the evolving news landscape. He discusses how shifting audience trust impacts media consumption, emphasizing the importance of impartiality for news organizations. Penn warns against the dangers of catering to ideological audiences, which could weaken media's cultural influence. He also examines the complex relationship between advertisers and news, arguing that brand safety concerns are often overstated. Finally, he suggests that media can thrive by adopting strategies from political campaigns.
Shifting audience behaviors and trust issues in the media are challenging news organizations to align with the electorate's core concerns.
Adopting strategic frameworks from political campaigns can help news organizations build sustainable businesses despite the evolving media landscape.
Deep dives
Impact of the Election on Media Dynamics
The recent election serves as a critical indicator of the shifting landscape within the media industry. The results revealed a disconnect between the priorities of mainstream media and the concerns of the electorate, suggesting that the media's influence is waning among the general populace. Trump’s ability to galvanize a loyal base despite numerous controversies reflects a broader sentiment that the Biden administration failed to address the needs of working and middle-class Americans. Consequently, this election exemplifies the growing challenge for news organizations to remain relevant as they grapple with changing audience expectations.
Shift in Political and Economic Perspectives
The election highlighted a fundamental dissatisfaction with the current administration, focusing on economic issues that directly affect the middle class. Many voters felt disillusioned by the lack of tangible results from the Biden administration, evident in the negative perceptions of economic management, such as inflation and unemployment concerns. This discontent has prompted a shift towards right-leaning politics, as many voters voiced their frustrations with what they perceive as the government catering to a small liberal elite. As a result, traditional political narratives are being challenged in favor of candidates who resonate with more moderate and working-class values.
Mainstream Media's Trust Issues
There is a growing perception that mainstream media serves as an extension of elite progressive agendas, causing significant trust issues among a polarized audience. Individuals expressed skepticism towards the media's focus on specific narratives that they believe do not reflect their real-life experiences, particularly among conservative and working-class communities. Surveys reveal that Democrats largely perceive media positively, while Republicans experience a stark lack of trust, indicating a need for media outlets to navigate the delicate balance of neutrality. This situation suggests that achieving broad acceptance from diverse political viewpoints is essential for the media's future viability.
Leveraging Campaign Strategies for News Sustainability
To build a sustainable media business, news organizations can draw parallels to successful political campaigns by employing key strategic frameworks. Establishing a clear and memorable theme is essential, as is crafting a compelling narrative that communicates the organization's values and objectives. Identifying a target audience while addressing specific issues that resonate with them can significantly enhance engagement. Ultimately, differentiating from competitors through unique reporting and content approaches will be crucial for news organizations to capture and retain audience interest.
Stagwell CEO Mark Penn is a veteran of politics. In this discussion, he examines how shifting audience behaviors and trust patterns are reshaping where Americans get their news. The conversation delves into the thorny challenges of advertising on news content and why brand safety concerns are usually overblown. Penn outlines how news organizations can build sustainable businesses by adopting lessons from political campaigns, while warning that chasing ideological audiences risks further eroding media's broader cultural influence.
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