AI inevitably looms large in this mix in 2026, particularly in terms of using these technologies to deliver on promised efficiencies and product innovation. But this isn’t the only issue keeping leaders up at night. Just as important, if not more so, are questions of maintaining and growing audiences, as well as the continued need for revenue diversification.

These issues play out against a backdrop where attracting and retaining attention remains a challenge. In an era of mass news avoidance, that a key consideration for news outlets. However, in an era where we have access to more entertainment sources than ever before, responding to the attention economy is a driver for every media company.

In terms of AI, embracing this technology strategically (without it eating publishers’ lunch) remains a tightrope that has to be walked. And the need for diversified revenue models is more important than ever as referral traffic from major platforms continues to decline.

As the latest predictions from Nieman Lab, Reuters Institute, and Deloitte demonstrate, the industry is grappling with these three interconnected factors. However, there are also opportunities to plot a successful way forward.

1. Tactics for audience growth and retention

Writing at the end of last year, Burt Herman the principal and co-founder of Hacks/Hackers outlined the risks of “People Zero,” noting the growing challenge of getting audiences to come directly to publisher content in the AI age.

As Herman notes, this challenge “pushes journalism to reconsider what we offer as our product.” That’s a sentiment applicable to all media outlets, and one which reinforces the need for publishers to demonstrate value (in terms of quality and cost), as well as distinctiveness, if they are to attract and retain consumers.

Herman argues that “journalism’s future is utility,” pointing to tools and approaches that can help publishers stand out. These include providing unique datasets that audiences can use to inform their lives, creating spaces that foster connection with others, developing immersive media experiences, and strengthening direct publisher-to-consumer communication.

This last point has become especially important as referral traffic from search and social platforms continues to decline. The trend is being further accelerated by AI summaries and chatbots, alongside the continued deprioritization of news on many platforms. As a result, publishers face growing pressure to reduce their reliance on platform-dependent distribution and focus instead on building direct relationships with audiences.

As Debra Aho Williamson put it in an article for The Rebooting, “To thrive, publishers must shift from renting audiences on external platforms to owning relationships through newsletters, direct engagement and differentiated content.”

For many publishers, newsletters are central to this approach. They provide a direct line to audiences, generate valuable first-party data, and offer clear advertising and sponsorship opportunities. The rise of personalized newsletters, along with a shift toward named newsletter hosts rather than anonymous corporate voices, has also made the format more appealing and more human.

Podcasts represent another important channel for deepening these relationships. Hearing the voice of a host creates an immediate sense of familiarity and connection. Like newsletters, podcasts are typically released on predictable schedules. Publishing at consistent times and delivering content directly to inboxes or podcast apps helps build habits, making engagement part of a listener’s daily or weekly routine and supporting retention over time.

By leaning into voice-led formats such as newsletters and podcasts, publishers can also tap into some of the dynamics that have fueled the creator economy. This sector thrives on perceptions of authenticity, personality, and direct connection. Recognizing this, organizations including The Washington Post and CBS are expanding the range of voices they feature, introducing new contributors and republishing material from partner organizations.

Rather than positioning the creator economy as competition (or a threat), partnering with trusted creators can be a way to bring new audiences into publisher ecosystems. This is particularly relevant as audiences increasingly follow individual voices they trust, often independent of institutional affiliation.

Publishers are also responding to these preferences through video podcasts, vertical short-form video, and more personality-led formats across platforms. A recent Reuters Institute survey found that three-quarters of publisher respondents say they will be encouraging their staff to behave more like creators this year. At the same time, Deloitte predicts that global ad revenues for podcasts and vodcasts will reach approximately $5 billion in 2026, representing close to 20 percent year-over-year growth.

Taken together, these efforts reflect a growing focus on aligning content formats, tone, and distribution with audience preferences. As we look at the big trends right now, we see media leaders doubling down on direct engagement, aiming to build stronger, more resilient audience relationships that are less dependent on external platforms.

2. AI: From experimentation to implementation

Alongside audience strategy, the second major priority for media companies is AI integration, specifically the shift from experimentation to practical, day-to-day implementation.

Deloitte’s 2026 TMT predictions describe this as a year defined by less exciting but essential work. This includes data hygiene, governance, and the challenge of scaling AI across organizations rather than launching isolated pilot projects. As Deloitte observes, “New foundational models, or even shiny new enterprise agentic applications, continue to impress,” they note, “but they will likely be more useful in the near term.” 

In practice, publishers are increasingly experimenting with AI-powered summaries, text-to-audio versions of articles, and translation tools that allow content to reach new audiences. These applications point to clear product and workflow opportunities, even as broader efficiency gains have yet to fully materialize.

At the same time, for all the rhetoric about the efficiencies that AI technologies will unlock, much of this potential across multiple industries has yet to be realized. Partly, this is due to the need to fact-check and correct AI outputs. More widely, as The Wall Street Journal observes there is also a disconnect between “how much time workers say the technology saves them on the job is vastly different from what executives report.”

Nevertheless, we can expect to see major investment in AI tools and technologies to continue, even if anticipated gains take longer to become reality than expected. According to a recent report from WAN-IFRA, nearly 93% of respondents to their annual World Press Trends survey identified AI and Automation as a top investment area for the coming year.

At the same time, publishers must grapple with a more fundamental shift. AI is increasingly becoming a primary route to information discovery for many users. Systems such as Perplexity, ChatGPT, and Claude are now intermediaries between audiences and content, raising new questions about visibility, attribution, and value.

As Nikita Roy, founder of Newsroom Robots Lab, incubated at the Harvard Innovation Labs, puts it, “ AI is becoming the new audience.” She argues that organizations will need to return to first principles and re-engineer themselves to meet this reality. That includes building teams focused on creating structured, living information that can surface effectively within AI-driven environments.

Licensing will be part of that mix, but these financial relationships are not necessarily lucrative, and often only the largest players get a seat at the table. All of this makes it incumbent that publishers don’t just optimize for being cited and summarized. They must also continue to build their own products and create reasons for audiences to engage directly with them, rather than third party tools and applications.

Without this, publishers risk becoming little more than content suppliers in an information ecosystem where others own the audience, data, and financial benefit of these behavior shifts. If they fail to do this, publishers will simply be creating a new form of platform dependency. To avoid this, it’s fundamental that media companies can demonstrate value, engagement, and impact on their own terms and across their own properties.

3. Revenue diversification remains central

Lastly, when it comes to broadening their revenue mix, media companies need to keep their foot on the gas.

Global advertising spend is expected to surpass a trillion dollars in 2026, but the percentage of that coming to traditional media companies continues to decline. Instead, the big tech companies, retail media players and influencers/creators ae among those who will benefit the most. The value of US creator economy, for example, is expected to exceed $20 billion in 2026, representing a CAGR of 16.2%, according to EMARKETER’s forecast.

All of this makes it essential for media companies to continue to look beyond advertising to ensure a firm financial footing. Subscriptions will play a role here. However, continued hikes in prices will test the patience, loyalty and wallets of even the most ardent consumers, especially as questions of affordability and the cost of living continue to loom large.

As I’ve previously argued, revenue streams such as live events, e-commerce and non-news content (such as games) are becoming progressively important.

Events continue to be the area that sparks the most interest, and perhaps has the most potential  for many media players. As summarized by Lineup, “events turn media brands into hosts. They deepen loyalty, open sponsorship opportunities, and extend the value of your content into real life.” “For media companies seeking to stay ahead of the curve, hosting, managing and monetizing events is no longer a nice add-on, “ they contend, “it’s a strategic imperative.”

By strengthening audience ties, generating new sponsor income, expanding geographic reach through hybrid and in-person formats, events can be a channel for growth, supporting strategies for audience growth, as well as efforts to move beyond traditional advertising and subscription models.

This is part of a wider trend identified in WAN-IFRA’s latest World Press Trends study. The report revealed that globally non-advertising and subscription revenues now accounts for over a quarter of publisher income. As a percentage, this is almost the same as companies make from digital!

Alongside events, companies are further expanding into areas such as B2B services, grants and philanthropy, and affiliate relationships, as well as more tried and trusted (if potentially volatile) activities such as content licensing and paid partnerships with platforms.

Successful publishers are maintaining their focus on these types of revenue generators, embracing strategies that align with their audience needs and their own content propositions.

Condé Nast, for example, help to generate $600 million in product sales for their partners in 2024. This represented a fivefold increase over four years, enabling the company to grow its affiliate revenues from brands which have editorial authority and strong ties with audiences.

And just as the year ahead is about the less glamorous side of AI, the same can be said in the revenue space. Kimberly Miller, Executive Vice President of Strategy and Operations at Payway, points out the importance of investing in payment systems and payment recovery. “Every declined or expired card represents more than a lost transaction,” she told Editor & Publisher. “Sometimes it is also a lost reader relationship. In 2026, publishers that prioritize payment data integrity and recovery automation will quietly strengthen their revenue foundation.”

The bottom line: Differentiating success from survival

Collectively, these three interlocking challenges will be at the heart of publisher success (or failure) in the year ahead.

The audience crisis is real and accelerating, making it a strategic imperative that media players tackle questions of news avoidance, declining referral traffic and identify how they can best grab – and retain – audience attention.

That means investing in direct relationships through newsletters, podcasts, video-first formats, and creator partnerships. It also requires a “barbell” strategy that prioritizes either snackable social content or deep, high-value consumption.

In terms of AI, the year ahead will see a maturing of efforts designed to improve workflows and products. Publishers will need to decide not only how AI supports their workflows and offerings, but also how their content is surfaced, summarized, or withheld in AI-driven environments. These choices will shape visibility, value, and control in ways that extend well beyond technology teams.

Lastly, building and nurturing multiple revenue lines while investing in retention, habit-forming products, and experiences that audiences actually want, remains key.

For media companies in the year ahead, a focus on deepening audience relationships, diversifying revenues, demonstrating value and deploying AI strategically and realistically, will be the key to success. These areas are firmly interwoven, and increasingly contingent on one another. In 2026, none of these media trends works in isolation. Media companies who understand this, and plan accordingly, will be best positioned to navigate whatever the next 12 months throws at us.

The post How to tackle the three tensions defining media in 2026 appeared first on Digital Content Next.

The research defines sustainability as the ability to deliver on a journalistic mission while maintaining financial stability. The report identifies four foundations that underpin success: product and audience, monetization, operational readiness, and financial resilience. Publishers that strengthen these areas consistently outperform peers in profitability, innovation, and adaptability. 

The results show that independent digital-native publishers are thriving in underserved markets, while established regional and national players are modernizing through digital transformation. Across this spectrum, success depends less on scale and more on clarity of purpose, innovation, and culture. 

Small digital natives are rewriting the rules 

One of the report’s most surprising findings comes from digital-native outlets with fewer than 50 employees. They are thriving and most often operate with lean budgets and off-the-shelf technology. Seventy-two percent of these small publishers already turn a profit, and half report margins above six percent. Many focus on local or niche communities overlooked by larger media organizations. Their success challenges long-held assumptions that sustainability requires scale or legacy infrastructure. Instead, agility, efficiency, and community relevance are their competitive advantages. 

In the United States, lean models such as Times of San Diego and 6am City illustrate this shift in action. Both run profitably with small teams, efficient technology, and high engagement. 6am City operates 25 local newsletters reaching one million subscribers with an open rate near 50%, showing how focus and consistency can drive growth. The Post and Courier in South Carolina, meanwhile, illustrates how regional legacy outlets can modernize successfully through audience development and subscriptions. 

Digital transformation accelerates 

Across all markets, digital transformation defines strategy. Digital-forward publishers expect a 9% shift from print and advertising toward digital consumer revenue within three years, while the most profitable anticipate a 13% shift. Even in print-dominant regions such as Latin America and South Asia, publishers plan for double-digit declines in print income offset by digital gains. 

Many legacy publishers still depend on print as a financial bridge. While print revenue continues to generate profit, leaders use those earnings to fund technology upgrades, product development, and newsroom innovation. In effect, they are transforming a declining business line into an engine that funds their digital future. 

Diversification strengthens resilience 

Advertising remains an important revenue stream, but diversification now defines sustainability. Digital natives expect subscription revenue to rise by 5%, and the most profitable forecast at 7% growth. Leading outlets are expanding into donations, events, and information services. The report finds that digital-forward publishers with three or more significant revenue sources record higher average profit margins than those with fewer.  

The report shows profitability rises with direct audience engagement. Among profitable publishers, 41% have logged-in rates above 7.5%, while only 15% of unprofitable publishers reach that level. Logged-in readers are more valuable because they convert more easily to subscribers and enhance advertising through first-party data. As referral traffic from search and social platforms declines, publishers increasingly rely on registration walls, newsletters, and direct sign-ups to build lasting connections. Profit follows the login and publishers that own their audience data outperform those that don’t. 

Technology, editorial investment, and cash discipline 

Profitability also correlates with investment in technology, editorial quality, and cash management. Publishers with robust technology infrastructure and sound financial planning report higher margins and stronger readiness for the future. The data here shows that digital-forward publishers manage costs tightly while investing in customer research and product innovation. In contrast, some publishers cut editorial spending to protect short-term profit. This often leads to a “doom loop,” a cycle where weak products erode audience trust and reduce revenue. 

In addition, most publishers surveyed say AI is a strategic priority, whether to automate workflows, personalize content, or enhance reporting. Local outlets use AI to improve efficiency, while larger organizations employ it to differentiate their products. 

Although AI adoption does not yet correlate with profitability, it signals a growing maturity across the industry. In the United States, experimentation continues to expand, especially around data insights and multilingual publishing. 

The News Sustainability Project 2025 Report delivers a clear message of progress. Media companies are proving that sustainability is achievable when strategy centers on audience insight, purposeful innovation, and disciplined investment in people and technology. Their success depends on strong leadership, smart investment in people and technology, and a continued commitment to local journalism that informs and connects communities.  

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In response, effective subscription strategies have become increasingly critical. Growing the percentage, and volume of income, that publishers receive directly from their readers is essential to revenue diversification. 

As a result, the past decade has seen paywalls become mainstream. This has been accompanied by the emergence of diversified reader revenue strategies that include membership programs, event strategies, and e-commerce. 

There have been some notable success stories during this period. By drawing more money directly from audiences, and reducing dependence on advertisers, many media companies have broadened their revenue base and reduced their reliance on volatile advertising markets. 

However, subscriptions, the cornerstone of most reader revenue strategies, are now at something of a turning point. As the Digital News Report noted, “Over the last 10 years, ongoing subscription levels across our basket of 20 countries have more than doubled but they now look to have hit a ceiling.”

Given this, it is important to ask, how we got here, why this leveling off matters and what can be done about it. 

The ad squeeze

Research from WARC in late-2023, clearly demonstrates why publishers must reduce their reliance on advertising. Despite advertising markets growing year-on-year, these additional monies are seldom finding their way to traditional publishers, whereas spend on search, social networks and retail media has continued to grow.

WARC’s data showed that more than half of global advertising spend was already going to five companies: Alibaba, Alphabet (Google, YouTube), Amazon, ByteDance (TikTok), and Meta (Facebook, Instagram).  

That trend line has only continued with advertisers attracted by the targeting offered by these platforms. And when advertisers are spending their dollars with publishers, it is increasingly focused on creators and non-hard news verticals such as lifestyle and sport. 

Professionally created media now receives only 51% of content-driven ad spend. That’s down from 72% in 2019. GroupM forecasts this will fall below 50% in 2026, as influencers and creator-journalists continue to attract a great share of advertiser budgets. These monies aren’t coming back. So that makes revenue diversification – with subscriptions serving as a cornerstone – essential.

Surveying the subscription landscape

More than three quarters (77%) of commercial publishers said that subscriptions are an area of key focus in 2025. 

This emphasis, according to a sample of nearly 300 industry leaders published by the Reuters Institute, is some way ahead of traditional display advertising, which is seen as “important or very important” in 2025 by 69% of their sample. It’s also well ahead of native advertising (59%).

Yet growing subscription income is not easy. As the Digital News Report’s authors note, “Publishers have already signed up many of those prepared to pay and in a tight economic climate it has been hard to persuade others to do the same.” 

Furthermore, across a basket of 20 wealthier countries, the study found that the share of users paying for news has levelled out at 18%.

With most households enjoying only one or two news subscriptions, that typically means that large, established, players like The New York Times, The Washington Post and The Wall Street Journal, dominate. Smaller publishers, such as local news providers, can struggle to punch through to enjoy their share of the subscription spoils. 

Alongside this, as the Pew Research Center recently observed, the ability to access news for free elsewhere is also a deterrent to taking out a subscription. 

Willingness to pay is further diminished by insufficient interest (32%). Pew notes that “Americans who don’t pay for news say the main reason is that it’s too expensive (10%) or that the news provided isn’t good enough to pay for (8%).”

If publishers are to grow the subscriber revenues, they need to do more than just double-down on their existing subscribers. They also need to broaden their reach, and that means addressing these issues. 

To do that, media companies must provide more content that audiences feel is high quality, relevant, accessible and beneficial to them. This has to be complemented by the availability of different pricing and payment structures, especially in the face of free to access AI snippets and other readily available content.  

Without this, the subscription needle is likely to remain static, stuck at fewer than one in five news consumers. In the face of diminishing returns from advertising, the status quo – when it comes to reader revenues – will not cut it.

3 strategies for counteracting stagnant subscriptions 

Although subscription growth has stalled across the industry, there are proven strategies and approaches that media companies can deploy to retain and develop their subscriber base. Here are three of them.

1. Bundling 

Bundling strategies are becoming increasingly creative and diverse, promising consumers value for money and access to a cornucopia of content. 

The market leader for this approach is The New York Times. It offers a range of digital packages, including an all-access subscription as well as separate non-news subscriptions covering games, recipes, audio, sport, and product reviews. They also offer two Family subscription models, offering up to four individuals access to either all NYT content, or its Games.

This approach encourages daily habits through non-news content, while also creating an environment for non-new consumers to “bump” into your current affairs coverage. 

For media groups with multiple titles, bundling can be used to offer access to content from across their stable. 

In Europe, an early pioneer of this strategy, +Alt from Amedia, now reaches 16% of Norwegian digital news subscribers. Subscribers can access over 100 newspapers and websites in Norway, as well as exclusive and ad-free podcasts on its Untold app, and sports coverage via Direktesport.no. It’s success has encouraged other Nordic publishers, such as Schibsted and Bonnier, to follow suit. 

Bundling isn’t just confined to your in-house products. As Greg Piechota, Researcher-In-Residence at the International News Media Association (INMA), told me earlier in the year, some companies are  “increasingly partnering with other publishers, even competitors, to engage broader audiences.” 

Nieman Lab’s Hanaa’ Tameez reported in March that the Gray Lady has these type of deals with more 20 publishers, including leading European brands such as Politiken, The Irish Times, El Pais, and FAZ. Nic Newman and Federica Cherubini at the Reuters Institute believe we can “expect to see these deals extended to more publications as a way to reduce churn or differentiate a more expensive product.”

2. New products 

Alongside packaging existing offerings, or those of their partners, publishers are also actively investing in new products and services to attract and retain subscribers. 

Podcasts are an area which continue to hold some promise. According to the Digital News Report, 42% of news podcast listeners, across 20 countries, indicated that they would be prepared to pay for news-related podcasts. 

This interest, which also applies to non-news shows, is driven by the connection listeners form with show hosts and a sense that podcasts can provide a deeper understanding of issues. Podcast monetization is further driven by exclusive content, early access, add-free listening, or separate podcast subscriptions at lower price points. 

The Economist’s Podcast+ package is billed as $41.30 for first year, then auto-renews at $59 annually. Schibsted Media’s podcasting platform, Podme, has over 350,000 paying subscribers.

Elsewhere, media companies are expanding into areas such as games, newsletters and lifestyle verticals like food. 

In an era of profound news fatigue, they are also playing around with different formats and presentation styles. Svenska Dagbladet (SvD), a Swedish newspaper, has found success with its Kompakt app, offering short, digestible summaries of the day’s most important news. Its accessible tone is supported by the tagline “Read less, know more.”  

Similarly, in the UK, The Independent launched “Bulletin,” a service for time-poor readers, which uses Google Gemini, to create article summaries. “A new team of (human) editors will oversee all content and sign off before publication, solving the problem of attribution and fact-checking in many other AI initiatives,” the publication said. 

We can expect to see more outlets follow in their footsteps of SvD and The Independent, creating new products and harnessing AI tools, to reach audiences in a style and time-efficient manner which speak to their needs. Afterall, as Kompakt’s leaders contend, “journalism is too important to be boring.”

3. Flexible payment models 

To attract audiences that may be interested in your paid content, but who are resistant to high prices or long-term financial commitments, publishers are once again experimenting with greater flexibility in payment. Examples include day passes, week passes, or cheaper, more limited subscription propositions. 

Last year, the Torstar newspaper chain in Canada launched a pay-as-you-go model. Accessing a single article cost 75 cents, with daily payments capped at CAN$1.50 for full access.

In Finland, the launch of Uusi Juttu (New Story) by the Danish news organization Zetland included a dedicated membership tier for people on low incomes. Readers could access the site for €25 in the first year, rather than the reduced annual membership of €100 offered more widely to early supporters, journalism.co.uk reported. 

In addition to these approaches, dynamic paywalls are also continuing to become more common place. INMA’s Greg Piechota observes that usage has quadrupled to 22% since 2020 among news brands participating in their benchmarking program.

The benefit of this approach, as The Audiencer’s Madeleine White explains, is that because “every visitor to a publisher’s website is different, this strategy allows for adapted and targeted paywall messaging, subscription offers, and engagement journeys to optimize conversion rates for each ‘type’ of reader.” 

As AI tools behind this personalization continue to improve, expect even more publishers to adopt this paywall model, as well as some of the other tactics designed to make content more accessible and equitable.

Subscriptions today: the takeaway

At first glance, subscription levels appear to be stalled. However, this masks a more complex picture. Publishers are being creative through their use of bundles, partnerships, new and expanded products, as well as innovative pricing models. 

There remain real challenges in terms of overcoming willingness to pay for content, especially news, as well as the very real financial pressures many households are under. Nevertheless, subscription stagnation is not universal. Innovating in both product, and distribution, can make a difference. 

Emphasizing quality and utility, as well as highlighting non-news content, and the wider value proposition, can all play a pivotal role in addressing user needs, thereby helping companies retain subscribers and reduce churn. 

Subscription strategies aren’t failing. Rather, they are reaching a new level of maturity. 

Publishers need to balance deepening relationships with early adopters and their most loyal audiences, while at the same time broadening their appeal by demonstrating value and creating new pathways for reluctant readers. The providers who can navigate this tightrope will be the ones most likely to succeed with their subscription strategies in 2025 and beyond. 

The post State of subscriptions 2025: pushing past the paywall plateau appeared first on Digital Content Next.

However live events are often an expression of the “soft power” of a media brand. They act as a statement of the company’s influence, whether through big name sponsors and celebrities that attend, or by effectively setting the agenda for the industry through insight and expertise. They are a demonstration of the media company’s relevance for both its audience and potential commercial partners, whether B2C or B2B.

It is no surprise, then, that events remain a priority for many media businesses. However, while they are a source of revenue unto themselves, they are also being employed to support other revenue streams, including subscriptions.

Events and subscription marketing

Live events – especially the flagship conferences and exhibitions held by consumer titles – are exclusive by nature. While their content is often repackaged in article or video form, there is a cachet in attending them in-person and rubbing shoulders with celebrities and peers.

That exclusive nature is therefore being used by savvy subscription- or membership-focused media businesses. Access to those events is desirable, and is being used in subscription marketing material throughout the funnel. The Guardian, for example, offers its members discounted tickets to events at its owned-and-operated live events space in London, a physical benefit in addition to its central message of supporting its journalism.

However, events can support subscription growth as well. Anna Bross, SVP Communications for The Atlantic explains that, “Access to our events is a selling point from the first welcome and onboarding for our subscribers. We also market subscriptions in tandem with our events: ‘become a subscriber to unlock the full breadth of our journalism’.”

“The Atlantic has focused on exclusive events benefits for subscribers, particularly for our flagship event The Atlantic Festival: things like early access to ticket sales; subscriber-only event moments; and discounts. We have also produced subscriber-only virtual events.”

Brad Greenawalt, Vice President of Subscriptions at Hearst Magazines, notes that the appeal of live events can be used throughout the funnel when it comes to converting readers. “We view live events as an opportunity across the funnel. It can be a great audience expansion opportunity, getting new audiences closer to the brand and experience, as well as a lower funnel strategy for more niche premium subscription events. 

“Live events are a key selling point for our premium memberships and help drive subscriber conversion and retention.” He cites the UK’s ELLE Collective’s Beauty Masterclasses and GoodHousekeeping’s VIP membership Book Club conversations with authors as some of the events that work especially well for its subscription-oriented publications.

In line with the ongoing trend towards making access to journalists a selling point for subscriptions, live events are also being used and marketed as a way to speak to those journalists in-person. Every organization spoken to for this article mentioned that live events are being used to deepen engagement by way of connecting subscribers with the journalists whose content they consume.

Dow Jones’ VP, Leadership and Event Marketing Laura Verklin said that “Audiences used to be dependent on news organizations for access to information. Now that information is somewhat of a commodity but reliability is the differentiator. Our events allow us to foster a deep sense of trust and transparency with our audience by allowing them to engage and interact directly with reporters and editors while they’re on stage with global decision makers. It underscores the Journal’s editorial integrity and access to global leaders shaping our future.”

Superfans and creating touchpoints

The rule of thumb is that it is far easier (and, crucially, cheaper) to prevent a subscriber from churning than it is to convert a new reader to a subscriber. As a result, events are being considered as a major means of developing the relationship between publication and their readers to a degree where they will pay to support its mission. 

More than half (63%) of audience members who complete post-event surveys for the Guardian, for example, say they are more likely to financially support the Guardian after attending one of its events. 

A Guardian spokesperson explained that is due in part to using the live events to showcase the Guardian’s unique selling points during the event, which in turn supports those same messages in its membership marketing materials: “Our audiences appreciate the opportunity to ask their questions to our journalists and guests to feel closer to our journalism. It is also a great opportunity to showcase the human element of Guardian journalism in contrast to the rise of AI-generated content.”

Greenawalt also cites post-event feedback as being a significant source of audience information. The team uses the insights provided to tinker with and inform future events and other marketing strategies.

Bross explains that “Hyper-engaged subscribers are more likely to attend events. But those who attend events, whether hyper-engaged or not, are less likely to churn than those who do not attend events. Ultimately, we utilize our experiences to strengthen the perceived value of a subscription, deepen brand affinity with The Atlantic and give our subscribers unique access to our journalists and journalism.”

Creating events for new subscribers

However, that isn’t to say that events are aimed at or even solely marketed towards “superfans.” While these highly-engaged audience members are often the most lucrative for consumer brands, they are also touchpoints for new potential members. Publications are creating events with those new members in mind. The Guardian spokesperson explains that “It depends on the event. It is true that many of our supporters who frequently read the Guardian attend our events. Different speakers and topics also attract different audiences.”

That considered, curated approach is as important for information-based publications, which are predicated on appealing to very specific audiences. Verklin explains that “Exclusive access to our live events is a key differentiator when we market a subscription or membership to one of our C-Suite communities. These moments of in-person connection help deepen trust in the brand and create tangible value that differentiates a premium subscription from more transactional options.”

So as with trial memberships or limited access to some content on a timed basis, events are being created as a ‘lure’ for potential subscribers. Greenawalt says: “Although events draw in highly engaged members, we’ve also found success using it for our new audiences as well. Our newest membership, Veranda Gold Design Society, offered members the opportunity to go on an exclusive tour at the Kips Bay Decorator Show House in Palm Beach with Editor-in-Chief Steele Marcoux earlier this year.“

Event strategy and subscription marketing strategies, then, are becoming more intertwined. Each is being used to support the other, with discounted tickets or exclusive access being used to demonstrate the value of a subscription throughout the funnel.

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Given these financial realities, revenue diversification is essential. Fortunately, there are many ideas out there to learn from. Here are five alternative – and well-established – revenue sources that are poised to become more prominent, and important, for publishers in the year ahead. 

1.  Artificial Intelligence (AI) licensing opportunities

As Generative AI continues to gain traction, many media companies are signing licensing agreements with the companies behind these technologies. 

There are pros and cons to this, with several publishers currently litigating against their content being used by these platforms. However, for some media companies, AI licensing agreements offer an alluring mix of copyright protection and monetization opportunities.

Examples that we have seen in the past year include: 

• Hearst’s partnership with ChatGPT which promises “appropriate citations and direct links.” 

• UK-based publishers including the Financial Times, Guardian Media Group and Sky News, signing a strategic partnership ProRata.ai. DMG Media, home of The Daily Mail, has also taken an equity stake in the company.

• Reuters, Axel Springer and the USA TODAY Network are featured content partners for a voice delivered summary of the news and weather that is built into Microsoft’s Co-Pilot product.

• Reuters also agreed a multi-year deal with Meta, supplying content for queries asked about the news in Meta’s AI chatbot. 

However, not all publishers are ceding the AI opportunity to tech companies, which could offer licensing revenue closer to home. One major publisher, Dow Jones, recently signed up nearly 4,000 news publishers for Factiva Smart Summary, a new Generative AI feature in its business intelligence platform. These licensing agreements span more than 160 countries and 29 different languages. Partners include The Associated Press, Swiss News Agency AWP Finanznachrichten AG, News Corp Australia, and The Washington Post. 

As Generative AI continues to expand, expect more of these partnerships and products in 2025. 

2. Live events and experiences 

Pre-pandemic, live events offered a major source of revenue optimism for publishers. Post-COVID, this has morphed into a mix of in-person, online, and hybrid models. To draw sponsors and sell tickets, events work best when aligned with your brand and the content you are known for, an approach that a growing number of media outlets are leaning into.

Forbes has capitalized on its 30 Under 30 list by wrapping a live multi-day event around it. Their 2025 program includes a private concert, networking opportunities, industry-focused excursions, as well as sessions with speakers. 

Condé Nast leveraged one of its best known brands to launch Vogue World in 2022, which are going strong. Hosted in global fashion capitals like New York and Paris, these annual one-day events are also live streamed. Hollywood is the location for their 2025 event. The company is also hosting an immersive exhibition in London, narrated by Cate Blanchett, which explores the history of the modern runway show.  

The Innovation Consulting Group notes that some publishers derive up to 20% of their income from events. Events, they observe, can “help hike circulation, attract advertisers who might not advertise in the magazine’s media,” as well as “give magazines “face time” with their subscribers and potential subscribers.” 

Given these strategic and financial benefits, we can expect more publishers to explore the burgeoning events market in the year ahead.

3. Podcasting revenue innovation

Podcasts have been a bright spot for many publishers for a while, with many doubling down on the medium despite wider financial challenges. For the biggest shows and brands this can be a particularly profitable space. 

Continued optimism for this medium means that some publishers are looking to expand their podcasting portfolio and innovate on the ways they monetize. 

The New York Times, which recently paywalled their podcasting archive, launched a podcast for Wirecutter, its product recommendation vertical. The move, eight years after they acquired Wirecutter, demonstrates how they are still seeking to expand and monetize this brand, and that the see audio as a key means to do achieve that goal. This follows The Economist’s premium podcast push, in which it leverages podcasts as a critical component of its successful subscription-based revenue model. 

Meanwhile, the merging of events and podcasts is growing in prominence and revenue potential. Fans can connect with hosts and each other, deepening loyalty to brands and shows. All the while, podcasts offer media companies multiple monetization opportunities that go beyond advertising and subscriptions. 

This summer, The Ringer hosted a residency for six of their podcasts at the El Rey Theatre in Los Angeles. “As an audience engagement tool it takes fandom to a different level,” says Geoff Chow, Head of Podcast Studios & Managing Director for The Ringer.

The Wall Street Journal’s recent dive into “The Rest Is History” podcast revealed that its hosts were netting nearly $100,000 a month, through a combination of their podcast, monetizing clips on YouTube and live events. “History professors struggle to get students excited about the past,” the Journal wrote. “Yet at a recent live show in London, Holland and Sandbrook drew a raucous Gen Z audience with a rock-concert vibe.” 

Wondery  is similarly looking to create live tours for some of the most popular podcasts. With more than 200 active shows, over a quarter of which hit No. 1 on Apple Podcasts, they have a potentially large paying audience to tap into. Participants in their membership plan, Wondery+, get early access to these live events, a membership benefit deployed by Slate and others. 

As podcasts continue to evolve, these types of live events and tie-ins with wider memberships programs, will only become increasingly intertwined.

4. E-commerce and affiliate partnerships

With e-commerce now worth nearly $1.2 trillion in the USA alone this year, this is too big a market for media companies to ignore. In response, media entities are progressively integrating e-commerce into their platforms, selling merchandise and other products directly to consumers. 

The Daily Wire generated over $22 million from commerce in 2023. nearly 10% of its revenues. Axios reports that much of this derived from its Jeremy’s Razors products, which produced $19 million in sales. Their merchandise store made up most of The Daily Wire’s remaining commerce income.

Recommendation sites are another area of e-commerce that media players continue to explore. The Associated Press partnered with Taboola in March to launch AP Buyline, offering how-to guides and reviews in areas such as fashion, beauty and wellness, tech, pets and Black Friday deals. 

This launch came against a backdrop whereby some of AP’s core business is being squeezed. Local publishers Gannett and McClatchy ended their long-standing partnerships with AP,  due to a desire to cut costs and invest elsewhere. As the AP themselves note, fees from U.S. newspapers were at one point responsible for “virtually all of its revenue.” However,  diversification means “U.S. newspaper fees now constitute just over 10% of its annual income.”

Across the pond, The Independent, a UK newspaper, reported a 26% increase in revenue from e-commerce in the past year. Although review sections have potentially been impacted by recent changes to Google’s site reputation abuse policies, some publishers are growing their e-commerce revenues, despite inflationary pressures and a cost-of-living crisis. 

Such initiatives highlight how publishers can leverage their editorial authority to benefit from reader’s purchasing decisions. Effectively creating affiliate partnerships can assist audiences and a publishers’ bottom line.

5. The games people play

The last piece of our revenue puzzle for 2025 sees publishers continuing to invest in games. 

As twipe explains, games “engage readers differently than traditional news content.” “They provide a mental break, foster daily engagement, and satisfy psychological cravings… forming daily habits crucial for subscriber retention.” 

Subsequently, games can be a valuable plank in helping to drive loyalty. Jonathan Knight, head of games at The New York Times, says that “when we see subscribers engage with both games and news in any given week, we’re seeing some of the best long-term subscriber retention from that pattern.” Subsequently, the Gray Lady has expanded their portfolio of games. They’ve also made games more prominent on their app, encouraging audiences to “come for the games, stay for the news.” 

In that vein, French outlet Ouest-France publishes a game called “mystery photo of the day”. Readers must match the photo with the article in which it featured.  “It’s a way to get them to discover our articles,” says Emmanuel Chevalier, head of Ouest-France’s  digital acquisition department. Meanwhile, Hearst’s acquisition last year of Puzzmo is another example of a publisher flexing their financial muscles to expand their games offering. 

Games can offer an escape from an often bleak news agenda, providing a means for audiences to come back every day, and thereby create a deeper connection between readers and publishers. Because of this, games are poised to play an even more critical role in engagement in revenue strategies in 2025 and beyond.

Looking ahead at the importance of revenue diversification

From AI licensing to live events, e-commerce, podcasts, and games, publishers are actively diversifying their income strategies in response to shifts in markets and consumer needs. While advertising and subscriptions remain critical components of the media revenue landscape, media companies continue to experiment and innovate to leverage their brand strengths to create other revenue streams. 

Through these efforts, publishers are finding new ways to connect with audiences and drive revenues. In doing this, they are also trying to lay long-term foundations, with several of these strands focused on fostering loyalty, deepening engagement, and connecting with audiences in innovative ways.

As we head into 2025, the challenge will be scaling these initiatives in an increasingly competitive landscape. When many publisher peers are doing similar things, distinctiveness, brand value and relationships, as well as pricing points, will be paramount. 

At the same time, given the need to reduce reliance on traditional revenue models, diversification remains more important than ever. Doing this successfully requires flexibility, creativity, and a willingness to experiment. 

If this is executed well, like some of the examples that we have seen here, then innovative strategies to create income offer more than just means for survival. After all, revenue diversification offers perhaps the only pathway to long-term growth and resilience in an ever-evolving media ecosystem. As such, the need to explore some of the types of ideas outlined in this article, and to actively move away from a reliance on advertising and subscriptions, is non-negotiable.

The post Beyond subscriptions and advertising: 5 proven revenue tactics to try appeared first on Digital Content Next.

He was asked about the macroeconomics of Hollywood, particularly how streaming has affected the subjective quality of content compared to decades ago. Damon explained how DVDs once generated huge revenue, allowing studios to take more creative risks because they could rely on profits from DVD sales after a film’s theatrical release. He shared an example from a studio executive who explained that making a movie would, in theory, cost $25 million, with another $25 million for print and advertising. Gross box office receipts are then split with theater owners, who typically keep about half. This structure means the film would need to earn around $100 million just to break even or beginning to even discuss profit.  

Safe bets versus experimentation and adaptability

This hit me close to home, even though I’m in a different industry. It made me think about how the news media industry has also undergone drastic changes due to technology, shifts in audience consumption habits, and declines in traditional revenue streams like print subscriptions and classified ads. Both industries now take fewer risks in unpredictable environments, arguably leading to a drop in content quality and diversity. While exceptional work is still produced, the shift toward safer, commercially viable content is evident. Yet the evolving landscape hints at a future that demands a more integrated and adaptive approach.  

Hollywood content creation, as Damon suggests, centers on box office hits that drive significant revenue in their theatrical run. In news media, revenue reliance is on digital ads, subscriptions, and paywalls.  

Damon’s discussion of the economics of film made me wonder: What’s the new “DVD-sales” for the news media industry? What will create sustainable revenue beyond conventional methods? As technology advances, I believe the solution is in building new models that effectively leverage current tech and audience trends to offer long-term financial stability. 

While traditional news content remains important, it’s clear that audience expectations constantly evolve. Technology unlocks new possibilities which organizations must experiment with to master. At the same time, communities and influencers are reshaping how audiences connect with news. To stay relevant, news media has to adapt to these changing consumption patterns and provide deeper engagement. It’s time for journalism to meet these evolving demands, focusing on the key areas that will define the future of news and become the industry’s new “DVD-sales.” 

Diverse and individualized identity in media 

As audience preferences evolve, identity and self-representation are becoming central to media consumption. People no longer want just content—they want content that reflects their values and creates a sense of belonging. Subscriptions, affiliations, and donations have become extensions of personal identity, allowing individuals to support causes, movements, or news platforms that align with who they are or aspire to be. This shift is empowering. It fosters deeper connections between the audience and the media. However, it requires representation and relatability.  

Audiences increasingly seek a voice in the content they engage with. Community-led journalism and immersive experiences meet this demand by offering behind-the-scenes access, deeper insights into investigative reporting, and platforms for expressing concerns and successes within communities. These media-driven town halls—both in-person and virtual—create spaces where passion and substance shape the conversation. Historically, community-led journalism has also empowered underserved groups. It gives them ownership of their stories, fosters empathy, and reinforces a sense of identity as individuals see themselves reflected in the content. 

Mission-driven partnerships 

As audiences seek media that reflects their authentic selves, corporations and philanthropic organizations are aligning with news outlets that share their values to forge impact-driven partnerships that open new revenue opportunities for news media. These partnerships—particularly with philanthropic foundations, renewable energy companies, and organizations focused on health and sustainability—fund journalism with shared societal goals. Rooted in corporate social responsibility, they empower journalism to deliver objective reporting while driving meaningful social change.  

 By supporting investigative journalism, documentaries, and projects that resonate with consumers’ values, these partnerships enhance engagement and create a sustainable, mission-driven funding model. And companies that invest in media that align with their core values forge deeper connections with consumers who see these efforts as an extension of their own identities. This trend could shift news revenue models from short-term advertising to long-term, scalable partnerships, offering a significant and exciting opportunity for the future of news media. 

Transformative role of technology 

While sticking with the tried-and-true tactics may seem like the safe bet, the industry will need to reinvigorate its spirit of innovation and risk to best connect with ever-evolving audience expectations.  Technology has empowered today’s audiences to be more authentic by providing quicker access to information and more immediate ways to explore their interests. Information access helps people understand themselves and the world around them with greater speed and depth.  

Newsrooms can harness this shift by embracing immersive reporting through interactive experiences like AR and VR, which allows individuals to step into different perspectives, fostering empathy and engagement. These immersive technologies, from placing reporters on the front lines to using interactive learning platforms, enable audiences to connect more deeply with content, helping them refine their views and consider how they want to contribute or enact change.  

The real breakthrough, however, is in AI’s role in driving personalized engagement. AI allows news organizations to deliver hyper-personalized content based on individual habits and preferences, a process once manual and time-consuming. With AI-enhanced data insights, organizations can understand their audiences at a granular level, offering timely, relevant, and highly customized content. This deeper connection with consumers anticipates their needs and creates impactful experiences, potentially transforming how news is consumed and delivered. 

The road ahead for media revenue

So where is this all leading, and how does this become the new “DVD-sales” for news media? The answer lies in a transformative, identity-driven, community and tech-powered ecosystem where audiences help shape the content. This approach will foster loyalty and create scalable, sustainable revenue beyond traditional ads and subscriptions. By leveraging the combined power of community and technology, news organizations can form partnerships with purpose-aligned entities, redefining how journalism is funded and experienced. 

I envision a digital platform where users actively participate, voting on story ideas or contributing content in an environment that tackles local and global issues. With AI and data-driven personalization, users can receive tailored content and news organizations can create high-demand immersive experiences like virtual town halls. 

 If you’re wondering how these ideas translate into reality, take a look at City Bureau in Chicago, which is already putting some of them to work. This journalism lab is reimagining local media by equipping communities to address information inequity. Their Documenters program trains and pays residents to cover local government meetings, boosting transparency and citizen involvement.  

This concept upholds journalistic integrity, ensures accuracy and drives meaningful community involvement. It integrates the community into the editorial process without compromising professional standards. The approach builds authentic connections and strengthens trust, which is crucial for attracting corporate sponsorships and philanthropic partnerships. No, it does not come in a handy book-sized package like the DVD. However, this is a model that puts the audience at the center to build a sustainable model through experimentation in how the news is made, delivered, and funded.  

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That being said, few media companies would object to multiple revenue streams that complement their core business model. In practice, however, media revenue diversification can prove difficult (and expensive) to execute, dilute your brand/value proposition and divert attention away from the core product or business unit. In this article, we will explore how news organizations can structure their thinking about diversification initiatives and explore common best practices when it comes to execution.

How media organizations can think about the path to diversification

We find it helpful for news organizations to think of diversification on a spectrum, where there is a continuum of options for news organizations both in terms of the audience segments they can target and the products they can create. These news media companies can (and often do) concurrently pursue multiple diversification initiatives, which can be plotted at different intersections on the spectrum. This spectrum is visualized in the first image.

On the x-axis is a spectrum of product options. The furthest left on this axis are the products that the organization is most known for. For news organizations, these are typically products that fulfill the core news need: accurately informing people of what is going on in the world or their community in real-time. These products include daily newspapers and news websites (such as ft.com). As you go further right across the x-axis, you expand to other products that meet other needs. 

On the y-axis is a spectrum of audiences. At the bottom of the axis are core target audiences. For news organizations, these are typically people who are deeply interested in knowing what is going on in the world on a regular basis. As you go up the y-axis, you expand into audiences that don’t fit your existing or target audience demographic. 

To bring this framework to life, we plotted a selection of the Financial Times’ diversification initiatives to give a sense of how news organizations can expand within and beyond their revenue diversification frontier (second image).

Best practices when it comes to media revenue diversification

As we mentioned previously, successfully executing a news media diversification strategy is hard. There is no single playbook for how to successfully execute a diversification strategy in the news media industry: success is dependent on the organization, its current position within the market and the overall market context. However, there are a few common traits that we observed when looking at the most successful organizations:

Speak to target audiences/clients and understand their needs

You need to have a good grasp of the needs within your target segment. Never start from the perspective of your own objective – e.g. “Let’s expand into America”, “let’s build a subscription mode” – as this could lay waste to product market fit. 

Understand and leverage your distinctive edge

Your distinctive edge is something that you can provide your audiences or clients with that few or no other organizations can. A distinctive edge might be access to a leading journalist, knowledge of a specialist topic area, ability to produce content in a particular style or format, being home to a difficult-to-reach audience, having a well-respected and trusted brand or something else.

Acknowledge your diversification frontier

Every news media organization has its own revenue diversification frontier. We define a diversification frontier as the “comfortable limit” within which an organization can credibly and effectively expand, based on its brand and internal capabilities. Although companies can expand beyond their diversification frontier, these initiatives are risky and should be approached with caution.

Consider your optimal timing

Media organizations should avoid only exploring diversification initiatives when they become imperative. Rather, organizations should be continuously exploring opportunities for diversification, especially if they are in positions of high revenue concentration or they are experiencing systemic market decline in one of their revenue verticals.

Start small, iterate, gate investment and track key performance indicators

Not all revenue diversification initiatives are going to work. News organizations must avoid exposing themselves to unnecessary risk as a result of overconfidence or overinvestment. Instead, news organizations should run experiments to test new products or their ability to serve new audiences. Gating investment, creating independent advisory boards and setting and measuring performance against key performance indicators are all established ways of ensuring this in practice.

Underwrite new initiatives via upfront payments if possible

Often the best ideas can garner financial support at the concept stage, helping to underwrite the cost of the new initiative, reduce the upfront investment and risk and reveal demand. In practice, this involves reaching out to the most engaged audience members or most loyal advertising clients and asking them to support a new concept. Although this is not a possibility in every instance, it can be extremely effective.

Manage the wider business and be more than the sum of your parts

Once a diversified business model is achieved, the work does not stop there. In fact, successfully managing a revenue portfolio that is equal to more than the sum of its parts is very challenging. Brand uniformity, operating models, organizational design, culture, incentives, investment and financing are all critical aspects to consider and manage.

The future of revenue diversification in the news industry

Revenue diversification will remain top of mind for the news industry as concerns around declining referral traffic, gen-AI disintermediation and a challenging advertising market persist. 

We anticipate that successful media and news companies will increasingly diversify into adjacent revenue streams and products. We believe that this offers news media organizations the ability to develop more resilient and sustainable business models that fund quality journalism. You only need to look so far as Schibsted’s success and their mission statement to see what this extended future might hold: “We empower people in their daily lives.”

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At a local level, news deserts continued to grow, while digital darlings like BuzzFeed News shuttered and Vice Media filed for bankruptcy. Meanwhile, august publications like Bloomberg Businessweek and The Nation announced plans to reduce the frequency of their physical products, and the venerable National Geographic laid off the last of its staff writers.  

At the same time, concerns increasingly arose about compensation and copyright infringements from Generative AI platforms, as well as the impact of tools like ChatGPT on media traffic and search habits. 

Furthermore, dramatic drops in referral traffic witnessed by many leading publishers from major search engines and social networks added a further set of challenges for content creators to deal with. 

2024’s major media trends

So, how do media companies respond to these many challenges and put their best foot forward in the year ahead? Here are three essential recommendations:

1. Revenue diversification is more important by the day

Media companies have known for some time that they need to diversify their revenues. This need is only going to become more acute in the year ahead. Although global advertising spending is expected to exceed $1 trillion for the first time in 2024, this growth is not being felt by most media companies. 

Fresh analysis from WARC finds that spending on content media (TV, publishing, audio and cinema) has remained largely stagnant over the past decade. While advertising markets have boomed in that time, media players have seen their share of total advertising revenues decline from 71.0% a decade to 27.2% in 2024.

With these new monies flowing to the likes of Alibaba, Alphabet, Amazon, ByteDance and Meta, publishers and broadcasters “are fishing in a finite pool.” They’re essentially competing against one another for existing revenues, rather than attracting new ones, argues Alex Brownsell, Head of Content at WARC Media. 

Put another way, “every media owner – from NBCUniversal and The New York Times, to Snap and JCDecaux, to Disney and Spotify – is competing for share of a largely fixed market,” Brownsell concludes.

Against this backdrop, the need to reduce advertising dependency and diversify income sources becomes more apparent than ever. 

Within this, expect to see a greater emphasis on bundling as a means to drive loyalty and grow revenues. Blending different editorial propositions and purposes (e.g. news and non-news content) can be key, as The New York Times has shown. An ability, depending on your subscription type, to share access to your NYT bundle with friends and family can further deepen perceptions of value and reduce churn. 

“So far most of these bundles have been intra-company collaborations,” observes Nic Newman in his latest annual trends report for the Reuters Institute. “But in 2024 we can expect to see some publishers partnering with other providers to add extra value to their bundle,” he predicts.

Globally, media players are also placing a greater emphasis on the value of hosting events as part of a revenue diversification strategy. Respondents to a survey by WAN-IFRA found that almost a fifth (18.8%) of publisher income comes from sources beyond advertising and subscriptions. This reinforces earlier findings shared by twipe, pointing to areas such as premium audio content, events and e-commerce as some of the most promising areas for income growth.

2. AI remains in the spotlight

The impact of Generative AI dominated every media conference I attended last year. That’s not surprising given how rapidly this technology is developing.

Lest we forget, its posterchild ChatGPT only launched in November 2022. It had 140 million users a month at the time. By its first birthday, it boasted 100 million a week , demonstrating how quickly it had been adopted, including by more than 92% of Fortune 500 companies. 

Despite this general enthusiasm, “the response from publishers [to Generative AI] has been a mix of defense and offense,” observes Kevin Anderson at Pugpig. On the one hand, publishers are embracing this technology and exploring its possibilities in areas such as automation, personalization and the creation of new products. 

In Norway, for example, Aftenposten, the country’s biggest daily newspaper (part of the Schibsted group), has used AI-generated audio articles to deepen engagement and engage younger audiences. Within six months of launch, the audience for these AI-generated audio stories was akin to that of their podcasts, demonstrating the potential efficiency of this tool once it has been set up.

At the same time, they are also looking to limit the ability of AI platforms to be trained by scraping their content for free. “What media companies are saying is AI won’t be built without us,” contends Vincent Berthier at Reporters Without Borders.

This tension is perhaps most publicly prominent at The New York Times. Just before Christmas, the company launched a lawsuit against Open AI and Microsoft for copyright infringement, highlighting how “millions of articles from The New York Times were used to train chatbots that now compete with it.” The move came hot off the heels of the Gray Lady appointing Zach Seward as their first Editorial Director of A.I. Initiatives. It’s a role that encompasses training, experimentation and prototyping, as well as identifying when the company should, and should not, use Generative AI. 

The coming year will likely only see this type of dichotomy grow even more pronounced. 

We can expect to see greater moves towards AI regulation, more lawsuits issued by publishers as they seek to protect their material. We will also see more partnerships, like those inked between OpenAI and major publishers including Axel Springer and the Associated Press. Meanwhile, insights from a new survey conducted by the Reuters Institute point to a focus on using this technology for “under the hood” services such as transcription and copyediting. 

Whatever your approach, having a strategy for using and deploying AI remains key, not least because of the potential reputational harm when this is poorly executed.

3. Audience development grows in importance

A third area of focus for many media companies in the year ahead will be audience development. 

Alongside continued exertions to reach and engage with new audiences, businesses will be increasingly absorbed in efforts to deepen relationships with existing consumers. This will involve creating opportunities for interaction, dialogue and feedback, as well as moves to understand, and better serve, audience needs and preferences. 

It’s an area where AI can help, argues Dmitry Shishkin, the incoming CEO at Ringier Media. For Shishkin, data and suggestions generated by AI should be used as an “editorial co-pilot” that will inform content strategies and efforts to ensure “necessary distinctiveness.”

“Media success now thrives on differentiation and specialization,” he told Journalism.co.uk. That means an emphasis on “quality and focus,” he said, as newsrooms seek to “establish a compelling reason for repeated engagement.”

To help generate this engagement, outlets may look at fresh ways to develop more personal and direct relationships with audiences. 

Tools like Subtext enable media organizations and creators to text their audience as you would a friend.  New York Times Opinion columnist Farhad Manjoo holds Office Hours where he chats with readers on the phone. Tortoise Media in the UK holds open editorial meetings. Other outlets are experimenting with mechanisms like WhatsApp Channels and Discord to reach audiences in new places. 

All of this is a counterpoint to what Kevin Anderson notes was the “volume-over-value strategies” that many publishers pursued for too long. Media markets have changed, Anderson argues, remarking that reaching large audiences through search and social and then serving them with ads is seldom a model that’s fit for purpose. “It’s all about relationships,” he writes. 

In doing this, as we’ve argued before, publishers should be learning more from the Creator Economy. That’s a sector steeped in nurturing and leveraging relationships to drive revenues and loyalty. 

Demonstrating that there is no one-size-fits-all solution, Francesco Zaffarano writes in Nieman Lab about the success of “platform-based news brands.” These outlets do have large audiences on platforms like Instagram, TikTok and YouTube. They harness this to generate revenues through paid partnerships with brands and donations using similar tactics as those in the Creator Economy. 

Zaffarano cites outlets such as Impact in the USA, The News Movement in the UK, Hugo Décrypte in France and Ac2ality in Spain, as examples of this phenomenon. Arguably, their success hinges on aligning their work’s tone and relevance with their target audience, coupled with a presence in online spaces where their audience already spends a lot of time. 

In those instances, this takes the form of mainstream social networks. But, for other audiences and media outlets, the answer could lie closer to home, or in smaller (even niche) online communities. Media players will need to continually analyze audience needs and habits to find the solutions that are right for them.

A strategic path forward for digital media

In the fast-evolving media landscape, 2024 promises to be yet another year of rapid transformation and adaptation. The year ahead looks set to be defined by the need for media companies to focus on diversifying revenue streams, navigating the complex realm of AI, and prioritizing audience development. 

Revenue diversification remains a paramount priority for media companies, especially as their slice of global advertising revenues stagnates. In that climate, retention and fresh sources of income continue to be critical.

Secondly, the role and impact of Artificial Intelligence cannot be underestimated. Media players will continue to experiment with the potential benefits that this technology can unlock. Yet, they’ll do this while also seeking to protect their assets from being cannibalized by it. Navigating this tightrope will not be easy, but it’s one that organizations large and small will have to tread. 

Lastly, as media companies strive to deepen relationships with existing consumers at the same time as expanding their reach, audience development has to take center stage. Fostering meaningful relationships will see the use of different tactics and platforms. Nevertheless, the end goals are the same: to demonstrate value and distinctiveness, and in turn drive retention and loyalty. 

As media companies prioritize these areas, they need to be mindful of being strategic in these efforts. The pace of change can be daunting, but it also presents considerable opportunities. Leveraging new AI tools, diversifying revenue streams, cultivating stronger connections and delivering distinctive content are all areas that can enable media companies to do more than just survive 2024. Executed correctly, it should also enable them to thrive for some time in the years ahead.

The post Three trends that will shape media strategy in 2024 appeared first on Digital Content Next.

As digital media companies look to grow their businesses, they assess internal strategies and external macroeconomic and legislative influences. Both publishers and solutions providers report being well-positioned for the year ahead and rate their confidence level a 7.2 based on a 10-point rating scale.

The AOP surveyed 92 digital publishers and 16 solution providers; 26% of respondents are at the board level in their organization, and 51% are heads of departments.

Internal business priorities

Revenue remains a top priority for publishers. Subscriptions (17%), sponsorships (15%), and lead generation (13%) rank as top revenue sources for growth among consumer-based publishers. B2B publishers see stronger growth opportunities in lead generation (28%), events (22%), and sponsorship (20%). Digital publishers targeting business and consumer audiences rank developing new revenue streams through product innovation as their highest priority (3.9).

Developing new audiences is important for revenue growth. To that end, consumer publishers work across multiple platforms to drive content discovery while B2B publishers are more reliant on LinkedIn (44%).  

For advertising, publishers targeting consumer audiences report they depend more on advertising deals in the open marketplace. In contrast, B2B publishers divide more evenly across open and private marketplaces and non-programmatic. Further, 44% of all publishers expect revenue growth from private marketplaces and 42% from non-programmatic revenues.

Publisher respondents appear to be highly focused on their employees. Asked to rate how important different organizational priorities are [where 0 is not a focus at all and 5 is a very strong focus], B2B publishers ranked recruiting and retaining new talent as the most important priority, with a score of 4.1. Consumer publishers ranked ensuring a diverse and inclusive workplace as the most important priority, at 3.9.

External factors

With new legislation a key focus, digital media companies are mildly confident of their knowledge of the UK’s Online Safety Bill. This legislation establishes a new regulatory framework to ensure tech companies protect users from illegal content and activity, specifically social platforms, and other user-generated content-based sites. Publishers rate their confidence in understanding the Online Safety Bill’s impact on their organization at 5.6 on a 10-point scale and solution providers at 5.3.

Some publishers report that their companies are preparing for this new law by consulting with their legal teams, providing a comprehensive editorial policy, and relying on browser options. However, many also reply that no actions are needed because quality content publishers do not target children.

Further, publishers’ confidence rating is 6.5 regarding their readiness for the end of third-party cookies, while solutions providers report lower confidence in readiness (4.8). Publishers prioritize their  investment in first-party data and user experience in preparing for the end of cookies:

1. Enhancing the engagement funnel to build better first-party data (23%);  
2. Implementing tech solutions to provide a 360-degree view of audiences (15%); and
3. Investing in solutions to deliver a more personalized user experience (15%).

With a strong focus on first-party data, 58% of publishers are working to ensure their audience informs their business decisions and their investment in a data-led organization. Another 21% highlight the importance of internally managing and communicating audience insights throughout their organizations.

The AOP provides a snapshot of important focus areas for the year. A strong confidence level among media companies reflects positive internal alignment on essential strategies to develop and grow their businesses further. They are focused on building a diverse and strong talent pool. In terms of strategy, they are taking an audience-focused strategy and look to diversify revenue growth beyond advertising sales and subscriptions and increase sponsorships, lead generation, and event revenues.

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Señor argues that high-quality, distinctive reporting produced during these tumultuous periods has had an impact. Now, he says publishers need to “keep this momentum going.”

This is a point he emphasizes in the latest Innovation in News Media World Report*, which Señor co-edits. He and fellow editor Jayant Sriram write that “we need to build from this position of strength, even as the media world at large is in a period of unprecedented flux.”

How can publishers do this? Based on our conversation with Señor, and his latest Innovation Report, here are five recommendations for publishers as they look ahead to the uncertainties of the New Year.

1. Keep your foot on the subscription gas

“The key thing is to press on with subscriptions,” Señor recommends. He is bullish about reader revenue, stressing the subscription spike many publishers have witnessed in the past few years. “People know they have to pay for news,” he says, “so be the one that they pay for.”

FIPP’s new Q3 Digital Subscription Snapshot finds that “growth for most brands remains healthy, with period-on-period gains of 5% or more for many.” But growth is slowing, cautions CEO James Hewes. Gains are “significantly down” from this time last year, “when low double-digit growth might have been expected each quarter.”

The cost of living crisis, coupled with rises in many subscriptions, may all be contributing to this. FIPP also points to a maturing of this market. That means that “it is inevitable that growth percentages will begin to decline.” 

Despite this, Señor urges publishers to stay the course. “Keep pushing [subscriptions] first and foremost as a strategic priority,” he says, “even if it means heavy discounts.”  

A key factor behind this rationale is the cost of attracting new subscribers, which is typically more expensive than keeping new ones. That’s one reason why many publishers are increasingly investing in efforts to reduce churn. 

The habitual, relationship-based, nature of media consumption also matters. As economic conditions improve, you may be able to nudge up prices or upsell existing consumers. That’s harder to do with audiences who have churned off. 

2. Continue to explore opportunities for revenue diversification

Alongside maintaining relationships with existing audiences, publishers need to continue to find new routes to revenue. To help them do this, the latest Innovation Report outlines 14 different business models publishers can adopt. Publishers can mix and match these efforts to pull together a good range of diversified offerings. 

Aside from subscription-led approaches, other possibilities include a blend of B2B and B2C models such as memberships, events, affiliate marketing, and “think tank” style output. Educational activities, such as those offered by The Economist’s Executive Education program and Family Handman’s DIY University, may also be a good fit for some publishers and their audiences.

As many publishers know, if you wait long enough, then everything old becomes new again. In this regard, Señor is excited about what he describes as “the original habit-formation tool for newspapers – puzzles and games.” 

The New York Times’ acquisition of Wordle is the poster child for this, having brought “unprecedented tens of millions of new users to The Times.”  And, as The Innovation Report points out, “If even a fraction can then be converted to paying subscribers it would make for an excellent business proposition.”

Puzzles and games are again in vogue as gateways for publishers to capture new subscribers, generate fresh revenue streams and increase the “stickiness” of their relationships with audiences. 

Nevertheless, as Esther Kezia Thorpe suggests, “offering games is not a strategy in itself … Publishers need to find ways to bring regular puzzlers into a deeper relationship,” she says, “whether that be through newsletters, social features, or additional layers to the games themselves.”

3. Unlock the power – and results – of product thinking

Publishers have invested – and continue to invest – considerable resources in areas such as games, newsletters, and podcasts. Much of this is driven by a belief that these ventures can serve as a gateway to your content and drive subscriptions and aid retention by deepening bonds with their consumers. Señor calls them “conversion monsters.”

These efforts reflect product thinking, which has risen to the forefront of media strategies over the past decade. 

“Product thinking begins with realizing that every way people experience the news is a possible product or feature,” the Innovation Report observes. 

Each of these touchpoints, of course, is also potentially monetizable. 

As a result, “publishers must now become product companies and not just news media publishers,” Señor believes. That’s a sentiment increasingly applicable to revenue strategies, as well as content propositions.

“Product is changing everything,” agrees Luciana Cardoso, the Brazil-based Vice Chair of News Product Alliance’s Board Of Directors. Cardoso comments on how product is a driver for innovation “because we need to have the customer at the center of everything.” 

4. Be tech-led, not led by tech

This desire to be more consumer-centric, is accentuated by the need for publishers to prepare for a world without third-party cookies. Describing this as a ”first-party data moment,” Señor says these developments are “the key to a stronger future for our industry.” 

“First-party data gives us the chance to have a direct relationship, control the pricing, content and dialogue with our readers without intermediaries,” the Innovation Report states. “This is a massive shift and one we must prepare for.” 

Publishers must also look to the possibilities of Web 3.0. Señor points to the availability of “journalism without browsers” as one critical dimension of this brave new digital world. 

“When you look at how Condé Nast is experimenting with this, it’s very, very interesting,” he told us. 

One of their titles, GQ magazine, recently launched on Discord. “The way that we are thinking about it is we are throwing a party, GQ is the host, Discord is the venue and you are invited,” says Joel Pavelski, GQ’s Executive Director of Global Audience Development & Social Media.

Condé’s approach enables them to engage with communities in private online spaces, potentially reaching new audiences and serving existing ones in fresh ways. It’s part of a “conscious uncoupling” some publishers are having with traditional tech platforms; and part of a wider shift in media habits seen within the creator economy. 

Tapping into these emerging spaces and behaviors may reveal insights that can inform continued product thinking, drive subscription models, as well as support and shape first-party data strategies. 

5. Invest in content, especially visual media

Despite encouraging publishers to keep a watchful eye on emerging tech trends, Señor emphasizes that organizations shouldn’t go overboard. 

In terms of the industry’s wider financial footing, “the Metaverse, Web 3, none of this stuff will make the difference,” he contends. “What will make the difference is investment in journalism.”

“We need to do original reporting. A lot of people want that,” Señor says. 

As part of this, he stresses the importance of high-impact visual journalism, which he believes is “absolutely essential,” and “perhaps the most exciting new field in journalism right now.” 

Product thinking can also shape how – and where – these visual-first stories are told. ”This is transformative,” Señor says, pointing out how many of these efforts are driven by a “story first, platform second” dynamic. 

Memorable examples, such as video Op-Ed’s pioneered by The New York Times and The Miami Herald’s award-winning “House of Cards” investigation, can also yield multiple outcomes for publishers. Impactful content can be integral to industry recognition (e.g. awards), and a key driver for unlocking new subscriptions, as well as the retention and upselling of existing consumers. 

Strategic synergies: bringing these principles together

Noting that next year’s Innovation Report will be their 23rd annual publication, Señor says the examples they feature are focused on reach, relevance, or revenue. Often, these elements are deeply intertwined. 

Parlaying that relevance into different spaces and products, and encouraging audiences to pay for it, remains essential if publishers are to traverse stormy economic waters and successfully navigate their way through 2023.

“Whatever you do, put all your efforts into gaining and retaining subscribers,” Señor advocates. Everything should be “about sustaining, developing, [and] amplifying your subscription strategy.”

There’s a myriad of interconnected ways to do this. This includes multiple means to generate revenues, distinctive products to attract and retain subscribers, the knock-on effect of memorable – often visually-led – journalism, as well as deepening relationships with audiences both on and off-platform; including in new and emerging digital spaces. 

This consumer-centric model eschews the shiny object syndrome that many media players have been guilty of in the past. Instead, as a new year begins to loom on the horizon, focusing on solid content-led foundations should be their guiding light. 

As the sun sets on 2022, publishers will once again set sail and steer a path into an uncertain future. Meeting audience needs through the trifecta of content, product and subscriptions, must be their North Star as we quickly advance into these unchartered waters. 

*The Innovation In News Media World Report 2022-23 is available to WAN-IFRA members (for free) or for purchase via INNOVATION’s website.

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