News Media Outlook 2018: The New Economics of Content

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INMA
Arnab Goswani

On 6 February 2018, The International News Media Association (INMA) released a new report that says news media companies are discovering the emerging value of content to create data-infused, reader-based business models that are impacting corporate cultures and audience relationships. ‘News Media Outlook 2018: The New Economics of Content’ is INMA’s exclusive global look at the strategy and trends driving news media’s transformation. INMA members may download the report for free and non-members may order the report by going to www.inma.org/reports.

The widely read annual snapshot of a media industry in transition is written by INMA executive director and chief executive officer Earl J Wilkinson, who provides an authentic insight into the media-technology intersection based on personal visits with the world’s leading companies.

Key themes in the report include trends and strategy behind media transformation; Business model innovation and value creation; The accelerating role of data at media companies; The re-awakening of news brands amid rising skepticism about journalism; The rise of digital subscriptions, including culture change opportunities; and, What subscription success is starting to look like.

The 2018 report synthesises dozens of interviews, sessions and private interactions to create a narrative of surprising optimism. It suggests that legacy media companies are moving in the right direction, yet at an uneven pace over time. The strategic context of media is changing as consumers drown in information overload.

Reader revenue through digital subscriptions and memberships – and the new deep background necessary in acquisition, retention, engagement, and more – is emerging as the brightest possibility to replace departing print advertising in the revenue base. The Outlook report hints at the path forward with subscription stacks.

Data and big data is richly informing management and editorial decisions as companies aim to produce more content that drives engagement and creates brand value. In an ecosystem rising in complexity, brands infused with a clear personality aimed at passionate audiences are becoming a strategic imperative.

‘News Media Outlook 2018: The New Economics of Content’ is punctuated by case studies from Australia, New Zealand, Sweden, and Norway – innovation hot spots that serve as benchmarks for media companies worldwide. The 114-page report is divided into two parts – strategy and trends, as well as digital subscriptions.

The author argues that the importance of reader revenue in the broader subscription economy warrants such an emphasis. Among highlights in the digital subscription section: New context on the rise of digital subscriptions; Which models are working in which contexts (meter, freemium, hybrid); What success looks like; The concept of a subscription stack; How Scandinavia is ground zero for global best practice. The new INMA report is a strategic document from which media companies can plot their own strategies, comparing and contrasting and localising their unique realities.

INMA is a global community of market-leading news media companies reinventing how they engage audiences and grow revenue in a multi-media environment. The INMA community consists of 8,758 executives at 657 media companies in 64 countries. INMA is the news media industry’s foremost ideas-sharing network, with members connected via conferences, reports, webinars, chat, and an unparalleled archive of best practices. INMA has offices in the United States, Belgium, India, and El Salvador.

INMA has been active in India and South Asia for more than a decade. News organizations interested in membership and other information should contact INMA’s South Asia Coordinator, Priya Marwah at priya.marwah@inma.org

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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