To reach young people, who are less sensitive to mainstream media sites and more dependent on networks, publishers should continue to improve their visibility on these platforms.
2 The economic crisis of the media is deepening, requiring new economic models
Local media, appreciated by the public, are nevertheless the most affected
While news consumption has increased sharply, the same cannot be said for news media revenues, which are heavily dependent on advertising and event revenues. On the horizon: the acceleration of cost reduction, media concentration and changing business models.
The crisis poses a particular threat to local media, which have proven themselves more useful than ever during the pandemic. However, the public values local newspapers – even before the crisis, 47% of respondents across countries said they were very interested in local media.
Source: Reuters Institute
Support from governments and companies like Facebook and Google bank data alone will not be enough to save local media. Media, and especially local media, urgently need to address the challenge of finding new viable business models, attracting the next generation and achieving digital transformation.
Opportunities are emerging in reader revenue
membership, donations or micropayments, will continue to develop. Some countries have seen a significant increase in payment for online information, for example 20% (+4) in the United States and 42% (+8) in Norway.
Source: Reuters Institute
However, there is a "winner takes most" trend in these countries - between a third and half of subscriptions go to major national brands. In all countries, most people who pay for news subscribe to only one media outlet. In the US and Norway, however, a minority (37% in the US and 38% in Norway) have two or more subscriptions, often to a local newspaper or trade magazine.