Tuesday August 18th: Can publishers survive without a revenue mix?

August 18, 2020

Morning! Tuesday morning's roundup is brought to you by Peter.

We write and talk often about reader revenues. Over the pandemic, subscription revenues have become key to publishers battered by the evaporation of ad budgets. But does that mean publishers have to adopt a subscription play? Is paid content the only way forward?

The Drum asked 'Can publishers still survive without a subscription model?' yesterday off the back of Hong Kong's South China Morning Post reintroducing their paywall after a four-year hiatus. The piece raises the idea that the SCMP's reversal is conclusive proof that reader revenue is the only way to pay for 'in-depth and responsible journalism', but is interesting in acknowledging that we're a long way from subscriber-only media.

Unquestioning acceptance of the 'pivot to paid' will lead to a lack of conversation around a proper revenue mix for publishing. There has to be a place for advertising and sponsorship as a way to provide access to content and as a balance against subscription fatigue, recession or some super-clever bundling technology that undercuts publisher revenue shares?

We've already seen how the pandemic messed with what we thought was rock-solid revenue diversification centered on events. Is it so hard to imagine a future where reader revenues fall under pressure too?

The number of people in the UK getting news from social media and Google search has declined in the past year according to Ofcom’s annual news consumption survey. The survey also says social media users are less engaged with news, clicking and sharing less.

Audio versions of articles can give busy readers a way to access content while they get on with other things. The added convenience is helping publishers attract subscribers, build engagement and loyalty, and generate ad revenue.

If you're squeamish about classism and sexism this might not be an easy read for you. But the issues Katie Anderton raises are important: Our industry is missing the opportunity to secure 'unique insight' and create more democratic and inclusive content.

Today's throwback:

Reading articles about working class women in journalism, it seems like a good time to rewind to the Media Voices episode with PressPad founder Olivia Crellin explaining how PressPad aims to help people trying to enter the profession meet accommodation costs.

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