In response to an initial coronavirus news bump, a number of outlets witnessed record traffic to their sites, as well as a growth in subscribers. At the same time, however, they also had to contend with a major slump in advertising revenues as marketers shut their checkbooks.
As the war between the largest online media owners and the governments of the world heats up, marketers are notably sat on the sidelines. They learned a long time ago they can’t have their cake and eat it too when it comes to openly fighting these platforms while directly funding them.
For quality publishers with strong consumer relationships, a content-to-commerce strategy offers a valuable revenue diversification approach. The International News Media Association’s (INMA) new report, Content-to-Commerce Brings Revenue in Post-Advertising World, outlines key considerations, strategies and their implementations to help publishers build this line of revenue.
Newspaper publishers have seen a drastic drop in advertising sales this year, underscoring the need to diversify their revenue as much as possible during the recovery from the pandemic recession. They have suffered disproportionately, compared with other media outlets, according a Pew Research Center study.
As the ways we consume content, media, and technology continue to evolve, so too do the ways companies market themselves and showcase their brands. Similarly, consumers are starting to look beyond simple advertising tactics and now crave more unique and engaging online content.
User privacy is the largest trend shaping the direction of digital advertising. Governments are creating and enforcing new regulations that impact how advertising works, browsers and app stores are limiting how data can be shared and users are demanding more control over their data.