Newspaper and digital tablet on wooden table
The power of words has never been more important to the future of the news business. The dual purpose here refers to both the growing reliance on Wordle and its “soft news” ilk and the tyranny of “blocklists” that have wreaked havoc on digital news advertising. And be forewarned (no pun intended) – there are a lot of quotes here. Because even the definition of what is “news” lacks consensus in these divided times – so please judge me accordingly.
there is no need 60 minutes This study shows just how difficult the U.S. news business is these days. Newspapers and magazines have been in a never-ending downward spiral for more than two decades, and digital “paywalls” have been successful for a small number of traditional publications. wall street journal And that new york times
new york times
. Accelerated code reduction in cable and satellite television has deprived cable news networks of a predictable growth path through subscription fees, viewership expansion, and advertising dollars. Local news has been particularly devastating, with 2.5 local newspapers closing each week by 2023 and more than 200 counties now considered “news deserts” with no local news coverage. Advertisers are becoming increasingly reluctant or hostile to spending advertising dollars and sponsorships on news, with National Public Radio reporting a 25% decline in sponsorships in 2023 alone. There is. We are now experiencing the first generation of social media's deeply problematic influence on the impressionable young minds of future news consumers, as social psychologist Jonathan Haidt and others have uncovered. And, oh yeah, AI.
All these critical news business issues formed the backdrop for an extraordinary gathering at the IAB (Interactive Advertising Bureau) NewFronts (“NewsFronts?”) event that I attended this week. The gathering showcased both the enduring power of iconic brands in traditional news and the challenges each faces.
The powerful first panel included CNN CEO Mark Thompson, who has been battling the multi-headed monster of acquisition fallout, executive changes and the weakening of a multichannel business model. Cesar Conde, chairman of NBCUniversal News Group, is still recovering from backlash for intervening in a vicious political divide with the hiring and firing of former Republican National Committee leader Ronna McDaniel. leads the organization. NPR's new head, Katherine Maher, is immediately hit with the double whammy of perceived liberal bias and diminished funding prospects. BBC News' Deborah Turness has to balance her public charter obligations with the private commercial environment in which the company operates. and CEO Meredith Kopit Levien. new york timesmust maintain its historic role of delivering “all the news fit to print” while successfully meeting the preferences of its financial backers among its subscribers, readers and advertisers.
The similar organizational profiles of these panelists naturally led to similar perspectives on many of the challenges and opportunities in the news business, but this may have been a bit of a double-edged sword. Regarding the brand's core mission, all panelists professed an unwavering belief in and commitment to objective, professionally produced, quality journalism. And some particularly highlighted how research shows increasing levels of audience engagement with this type of fact-based truth-telling. There's no arguing with me about the vital importance of journalism and engagement from a select audience that dives into “real” news. But what about the vast majority of the public who simply accept the biased “views” and distorted “facts” presented by algorithm-driven social media platforms and self-selected “news” sites? We didn't hear much about how to launch a broader attack on what we call the fact desert, where many digital (and linear) consumers live.
The panellists were rightly proud of recent innovations in areas such as the BBC's livestream video and the BBC's audio products. times. However, despite their apparent affinity for 'hard' journalism, much of their confidence in the future of the business seemed to rest heavily on 'soft' features.with Kopit Levine timesfeatured recipes and lifestyle stories from Wordle, Connections, Spelling Bee, and their brethren, including the recent “100 Top Restaurants in New York.” Thompson said it would “redefine” news to better bridge the needs and desires of news publishers and advertisers, much like “sponsored” articles. Condé reflects much of this and, of course, today's show has featured cooking demos and celebrity bookings for years. But in a digital world where consumers have so many choices, winning consumers (and advertising brands) their choice of hard-to-watch but worth-watching content, from the trenches of Ukraine to the devastated areas. remains extremely difficult. From a kibbutz in Israel to the escalating Gaza front.
Of course, much of the anxiety about the future of news and journalism has less to do with building the right content than building the right business models to support it. As mentioned above, times And that journal We seem to have cracked the code for a viable subscription model, which is the basis for a new group of niche publications, including: information, pack, and punch bowl news. But for most other companies, including streaming services like NBC News Now, a solid advertising business is the most important, if not the only, source of revenue. The rest of the IAB Spotlight event consisted of ad buyers and publisher sellers focusing on this very labyrinth, with the subtopic under the most powerful microscope being the row of runaway keyword blocklists. was.
These blocklists are not new, but they have increasingly become a source of anger and anxiety for news publishers. Blocklists are a tool for ad buyers to protect their clients from environments that are “dangerous” to their brands and reputations, to prevent them from aligning with notoriously violent terrorist posts, or to keep airlines out of plane crashes. It is believed to work. However, these lists are too broad and suffer from too much legitimate news.
Susan Schiekofer, chief digital investment officer at Group M North America, acknowledged that too many legitimate news organizations and their content are incorrectly placed on blocklists taken out of context. Deba Bronson, Global Head of Brand Assurance at Dentsu, also established better compliance procedures and vigilance for advertisers and their agencies to keep blocklists up-to-date and relevant. asked to do so. In 2017, a mass shooting occurred at an Ariana Grande concert in Manchester, England. However, seven years later, “Ariana Grande” still appears on some blocklists, with no legitimate need for banning by advertisers, and despite her huge success as a recording and actor. ing. Move beyond such simplistic and short-sighted language and open the advertising spigot to the many legitimate news publishers whose content can and indeed must be supported at a time of great social need like this. The time has come.
