A pandemic without journalism? Unthinkable. And now a major war without journalism? Also unthinkable. We need to build from this position of strength, even as the media world at large is in a period of unprecedented flux. And to do that we have identified some key areas for publishers to focus on.
Reader revenue remains the biggest transformational theme for the industry when reliable information remains critical to health and security. As we move forward, this is the one maxim that publishers need to keep returning to: Know Thy Reader.
The war and energy crisis are making the cost of newsprint prohibitive for many publishers thus accelerating digital business models. Publishers must now become product companies and not just news media publishers.
Yes to the metaverse, AI and whatever new technologies may come in the Web 3.0 world.
Philanthropy and non-for-profit publishing as a business model is not the answer – it should be the last resort when all else has failed.
We should focus on the new formats and innovations that are bringing us success, the ‘conversion monsters’, so to speak.
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