Industry News
NEWS AND UPDATES FROM THE MEDIA INDUSTRY
Are We In a News Apocalypse?
NO! These are very tough times for many in the journalism business but there are bright spots to be considered.
The tough stuff:
- Prior news “winners”--Vice, BuzzFeed, Sports Illustrated are failing
- Most newspapers continue to shrink
- Print and digital advertising face price pressure and market share for news erodes
- AI’s impact on search will no doubt eliminate some referral traffic
- Younger consumers do not prefer to consume news in text form
- Facebook is abandoning news
The good stuff:
- Readers are willing to pay for news where they see value
- Philanthropic support for news is increasing
- More and better work is happening in video and podcasts
- Promising prospects for meaningful stream of payments from generative AI providers
- State and local government support appears likely
Read more from Richard Tofel’s Second Rough Draft:
#strategy #media #consulting #journalism
Online now 20% of $6.3T Global Retail Sales
Ecommerce dominance benefits integrated retail/ad sales platforms like Amazon and Walmart, challenging ad sales opportunities for traditional media players
- More than half of $6.3 trillion global ecommerce sales will come from China in 2024, in first place with $3.2T per EMarketer. The US comes in second with $1.3T.
- Latin America will have the fastest ecommerce growth rate at 15.8% this year, while Western Europe will have the slowest at 6.4%.
- Worldwide ecommerce growth will slow gradually over the next three years.
Read more from EMarketer here: Worldwide Retail Ecommerce Forecast 2024 report.
Digital Natives Not Digitally Exclusive
New research on Gen Alphas (6-to-16-year-olds) finds that this digital native group also embraces a healthy share of off-line experiences.
Take shopping for example. Almost as many Gen Alphas in VML’s research enjoy in-store shopping (78%) as they do online shopping (80%).
And their favorite downtime activity? Seventy-five percent cited watching TV followed by watching YouTube (70%) and playing on a phone or tablet (66%).
The full report from VML can be accessed here.
#media #strategy #consulting #GenAlpha
