It’s a brand people have known and loved for four and a half
decades – as a magazine. Now People is focused on video, determined to
grow the brand and bring its content to new, and larger, audiences.
“The most important thing is that the brand has to have a
voice to begin with,” said Will Lee, SVP of Digital for the Entertainment Group
of Meredith Corp., a role he’s held for two years, which coincides with
Meredith’s acquisition of Time, Inc. “People has a very strong brand
voice that it’s cultivated over 45 years. We know what the consumer expects
from us. We have a very well-developed playbook for how the brand should sound
People’s emotional DNA
That means sticking to the brand’s core emotional DNA when showing
work on Snapchat, for example. “We don’t say snarky, mean things about
celebrities. It’s not what we do.” So, even if Snap viewers prefer things a
little salty, People stays true to its own style, regardless of medium.
“We get a lot of data from Snapchat,” Lee said, “and that audience has evolved.
It’s very different from what it was three years ago.”
People’s video content focuses on what Lee called
“the three R’s, the content their readers just can’t get enough of: reality TV,
the British Royal family, and the red carpet. “Streaming is a different level
of engagement. The really passionate audience comes from reality TV.” So, Lee’s
team of 60 to 80 staffers produce a reality-based video show four nights a week
and a Royals show once a week. “Reality TV is a conversation starter,” said
Lee, of the genre’s powerful appeal.
The numbers back him up. “We’ve done 100 episodes of ‘Reality
Check.’ And after four episodes, we already had the second most viewed show on
people.com, with 2 to 3 million views of show clips in a week. That is a pretty
good debut for us.”
Pivoting constantly is key and Lee knows how hard his team
works to keep up. “All the parts of video work closely together because we’re
constantly iterating product on a daily basis. It’s a very special kind of
producer who can do three or four formats and keep it all together.”
“What’s interesting about our model is that we’re not tied
to 26-week orders so we can adjust. We have a lot of flexibility which
differentiates us from cable. We can iterate and improve the product.”
But, when deciding which next steps to take, “we have to be
very thoughtful, as a media brand with a history and the brand equity we’ve
built,” Lee added. “Where is the growth? How do we amplify the brand and move
into new markets?” Newer platforms like TikTok , he said, are “the solar power.
That’s where the future lies. We have a great brand, but that is no guarantee
of future growth.”
However, Lee feels confident that streaming is essential to
their success. “That’s why we’ve made such a big bet on it. If we’re not in
that space, we’re going to be left behind.”
Lee’s team also partners with Meredith Local Media Group , which has 17 TV stations across the country, which Meredith will leverage when it launches a new daily syndicated television show in September 2020. “That will be the centerpiece of our overall video product.” Lee acknowledged how ambitious this new product is: “Thirty minutes of daily broadcast level TV is a huge amount of work.” The magazine-style show, with “all new and original material really represents a pretty important next step for this iconic brand. It brings us more markets, and more audience. There aren’t a lot of media brands that will have this as part of their media ecosystem. In a company already producing print, digital and video, “this is going to be another evolution of how we all work together,” he said.
When it comes to his other responsibility, Entertainment
Weekly, Lee says a new launch is imminent as well. “We’re really trying to
amplify the brand. We want to go to where the audience is, in local markets.
It’s important for us to reach those audiences.”
EW has announced that it will be working with Jeffrey Katzenberg’s short form mobile video platform Quibi, slated to launch in April 2020. The morning show, which will recap late-night TV, will take a similar strategic approach to the Lee he employs with People. However, he emphasizes that the brands are quite distinct, and that EW is “known as a cultural curator.” That should play well on Quibi, which offers a new audience that Lee is excited to reach.
Traditional news channels are transforming into hybrid
newsrooms, combining digital platforms into an integrated business model
according to The
2019 State of Technology in Global Newsrooms Report. In fact, half of the
newsrooms in six of eight global regions are now hybrid. This research was conducted
by the International Center for Journalists (ICFJ) in 149 countries, in 14
languages, and completed by more than 4,100 journalists and news managers.
Some of the ICFJ ‘s key findings include:
Newsrooms mix formats to distribute their content with
social media as the dominant platform.
Content distribution increased with two-thirds
of news organizations distributing content in at least four formats, compared
to 40% that did in 2017.
In terms of social media tools, Facebook (90%)
and Twitter (73%) lead the pack. They are followed by YouTube, which grew to
60% usage from 48% in 2017 and Instagram, now at 48%, which is up from 33% in
Instant messaging apps as content distribution
channels have declined in seven out of eight regions over the last two years.
Eurasia/former USSR, Europe and North America registered the largest declines,
20 percentage points, 16, and 10, respectively.
Security and new technologies are part of the day-to-day
More than two-thirds of journalists and newsrooms secure their communications while only half did in 2017. In fact, in North American newsrooms, the percentage of those that secure their communications doubled to 82%. The preferred method of security is encrypted messaging apps.
One-third of news organizations employ dedicated fact-checkers. In addition, 44% of newsrooms and 37% of journalists said they engage in more fact-checking activities than they did the previous year.
More than twice as many journalists use social media verification tools today compared to 2017.
Most news organizations aim to dismantle misinformation
and work to build trust.
Seventy-five percent of managers worry about the
impact of misinformation. However, less than half of journalists believe that
it impacts their day-to-day work.
Almost half of newsrooms are better at
separating news stories from opinion pieces.
More than three-quarters (37%) of news managers
in North America report building trust as a major challenge, up from 29% two
Government and politics dominate news coverage.
Government and politics dominant news journalism
with the exception of news radio. Radio is more likely to cover specialized
beats. In fact, 42% of news radio covers education and 43% covers health
compared to 27% of websites that cover these topics.
While nearly one-third of journalists do some
investigative reporting, this group appears to be quite limited with only 12%
identifying as investigative reporters.
Smaller newsrooms appear to offer a community
focus news and are twice as likely to report on local news as larger outlets. Twenty
percent of small newsrooms cover local and hyperlocal events, compared to 10%
of larger newsrooms (26+ employees).
More women are leading in journalism.
Women hold half or more of newsroom management positions in four of the eight regions. On average, one-third of management jobs globally are held by women. However, female leadership varies greatly by region.
Leading with women in newsroom management are Eurasia/former USSR at 62%, North America at 56%, Europe at 51%, and Latin America/Caribbean at 49%.
Women comprise 56% of newsroom employees in North America and 51% in Europe.
On average, women are 40% of the journalists in newsrooms worldwide.
Interestingly, more women (25%) compared to men (15%) report not having digital experience at the time they were hired.
This ICFJ study offers insight into the transition of traditional
news outlets to hybrid news outlets with digital platforms integrations. It
identifies the newsroom journey to improve the quality of news reporting. Newsroom
operations must now include the fight against disinformation, the promotion of
trusted news brands, the addition of heightened security, and the usage of enhanced
Beyond the latest remix of Lil Nas X’s Old Town Road, the app has piqued the interest of social media managers at news publishers. Launched by Chinese tech company ByteDance in 2017, the service merged with Shanghai-based lip-syncing app Musica.ly before its popularity really took off in 2018. It became the most downloaded app in Apple’s App Store and hit one billion downloads on all mobile platforms in early 2019.
To catch everyone up: TikTok allows users to record 15- to 60-second looping vertical video. It has a built in editor to add background audio tracks and augmented reality-inspired overlay graphics. It’s huge adoption has been buoyed by using samples of pop music as background tracks. TikTok has partnered with music studios to navigate the tricky copyright status of those tracks and music stars have used the platform to leverage viral memes to spread awareness.
Why is this news?
Why should news managers care though? “To me, the why is obvious. It’s a whole new generation. [TikTok is] basically Gen Z’s biggest platform. Not all Gen Z likes TikTok, but a lot of them love it passionately,” says Washington Post video editor Dave Jorgenson.
Jorgenson has been behind The Washington Post’s push into the format. “There’s not a lot of news on TikTok. And, for someone who works for a newspaper or a broadcast network, that might seem kind of scary. But for me, I was like, ‘Oh, that’s amazing,’” he says. “I mean, why wouldn’t we use this app that — I think as of Friday — was number one in the entertainment section of iTunes.”
Other brands on the app include NBCNews, E! News, and The Dallas Morning News. Though Jorgenson seems to have truly tapped into the TikTok format, attracting a devoted audience to the Washington Post’s TikToks.
A culture of its own
Users spend an average of 52 minutes a day on the app. And, for Jorgenson, it’s been a way to introduce a newer generation to the venerable newspaper brand. But that’s taken a fairly specific strategy. “I’ve been very heavy handed, you’ll notice a Washington Post literal, physical newspaper cameo and we really want that to stick in there. It is funny how many people think that my name is Washington or something,” said Jorgenson.
The other main benefit Jorgenson sees is a pretty wide open space in the app for breaking news. There just aren’t many competitors. But he adds that anyone interested in using the platform should take some time to familairize themselves with the culture.
“Embracing the culture is really important,” he says. Sure, a brand or newspaper can try and jump to profit off the growing platform without figuring out what that culture is. However, audiences “know when they don’t understand the app, and they don’t know what’s going on.”
The scoop on TikTok
But if a brand is considering the space, there are a couple things to understand about going viral on the platform. Similar to Instagram, there’s an algorithmically organized “For You” section where the app surface relevant content for the user. Videos appear based on the Likes given by the user’s social circle.
There’s another unique way that TikTok puts its own spin on sharing called a “duet.” Users of the platform can record their reactions to be played concurrently beside the original video. And, if an account large enough does that, it ends up being a huge boost to viewing numbers.
“Another tip for a newsroom would be to use popular songs that everyone is using,” said Jorgenson. In fact, TikTok displays videos using the same songs together allowing discovery of content along similar themes.
At the end of the day, Jorgenson sees others in the news space following the Post’s lead. “I’ve started to be pretty open about how I do it because I think competition is good,” he says.
“A friendly rivalry is a good thing on any social app.”
I recently connected with Christa Carone, who joined Group Nine Media as president in 2017, at the Collision Conference in Toronto, Canada. Carone, who came to the media side of the industry after leadership roles on the marketing and agency side, oversees Group Nine’s sales and marketing teams as well as its data insights group. Group Nine is a digital media holding company comprised of four popular digitally-native media brands Thrillist, The Dodo, Seeker, and NowThis. Carone and I discussed revenue and distribution diversification, content strategy, and building a business based on brand equity.
Here are some highlights from our conversation:
Michelle Manafy: Tell me a little bit about your content
distribution strategy and why you are all-in on social.
Christa Carone: Well, I’d say we’re all-in on omni
channel—and that includes social. Right now, we’re distributing content on over
20 different platforms. That includes Amazon Prime, Pluto, Roku, and distribution
deals with networks literally around the world. So, our approach to being
completely agnostic on distribution is that we want to bring our content to all
of the different places where people are spending their time. And we want that
to be a pretty frictionless experience. Instead of spending a ton of money to
get you to come to my website, I want to bring our storytelling to the place
where you are already hanging out.
Michelle Manafy: Truly connecting with audiences at
scale almost sounds like almost an oxymoron to me. What do you think?
Christa Carone: You can debate that content is king
and distribution is queen and whether they have an equal seat at the table. But
that’s really kind of how I look at it. When both are working together extremely
well, you are able to build successful brands like The Dodo, NowThis, Thrillist,
and Seeker. It’s like really honing-in on higher value content. We’re building
lifetime value of the content, what’s going to keep an audience interested, and
remain totally agnostic on the distribution strategy.
Michelle Manafy: The trick, of course, is the
monetization. The other side of a distributed model is fragmentation. So, talk
to me a little bit about how managing all of those channels ties into an overarching
Christa Carone: The beauty of our strategy is
diversification. I often say that if Facebook sneezes, we don’t want to catch a
cold. Just like in any industry, you don’t want to be overly dependent on one
particular revenue stream. It’s business 101. Media is no different than any
other type of business. So, that’s why we’ve been so focused on building
audiences across a number of different channels. We’re building audience on TikTok
right now. The monetization strategy there is nascent. But it’s going to come. IGTV
is another great example. We produce great content for IGTV and put it on IGTV
pre-revenue. But I have no doubt at all that Facebook is going to open up
monetization opportunities there. And I want to have established an audience when
Michelle Manafy: You mentioned diversification and that
every company should be focused on diversified revenue. I take it that Group
Nine that’s been baked in from the start.
Christa Carone: Keep in mind that we’re two years old. So, we’ve had the benefit of learning from a lot of traditional companies. And I often say: We’re not pivoting to anything. Some of our brands were born into video so there wasn’t a pivot to video. And the business model was already established. Some of our brands were social first. NowThis, in particular, was born as a social-first distributed brand. We didn’t pivot our business model from taking audience from owned and operated to distributing through external platforms.
Thrillist is the oldest of our brands and it has such a
loyal audience. So, we are looking at diversification around where we can take
the Thrillist brand and make it more of a whole-lifestyle brand.
Overall, our focus is on lifetime value for the content. So,
if we’re bringing in revenue with licensing, great. Bringing in revenue from
the syndication model, great. If we’re bringing in revenue by production deals
with OTT content providers, like a Netflix, that’s perfect. And if we are continuing
to bring in a healthy amount of revenue from advertising, wonderful. And increasingly
we’re thinking about how we can tap into other revenue streams like commerce and
Michelle Manafy: Could you tell me a little bit about
your commerce strategy?
Christa Carone: Our approach to commerce is really looking at brands like The Dodo and Thrillist and saying there’s intellectual property here. There’s a maniacally loyal fanbase. Can we be licensing The Dodo into product? The Dodo clearly has enough brand equity to be producing large scale consumer and canine events. Thrillist has been a friend to people for a long time. It is your recommendation action for food and beverage and travel. So, our ability to take that brand equity and bring it into commerce is already built in. And stay tuned: We will definitely be doing some more on that later this year and we just hired a head of ecommerce.
Michelle Manafy: So, you mentioned that maniacal
audience, that loyal audience. What’s the Group Nine secret? Because, as
publishers, that audience relationship is what differentiates us from the
Christa Carone: It’s such a credit to our editorial
teams. They know how weave a great narrative and tell an amazing story. It
sounds simple but I’m always amazed … A great example is from NowThis. Many
people are familiar with the NowThis video about Beto O’Rourke that went viral.
The raw footage of that video was already posted on Twitter. It already lived
on the Internet someplace. The NowThis team found it and was able to put it
through their storytelling lens. They said how can we construct it in such a
way that viewers are compelled to watch the entire piece? There is an art to
it. There is a narrative that was built in through the use of text on the
screen, through the use of effective editing so that we as the viewer were
compelled to watch it from start to finish. That is the secret sauce that
really exists within our editorial teams and applies to how we produce content
across all of our brands.
I would say the other massive factor for us is that scale
matters. We have such amazing insights that we’re able to glean from the
consumption of our videos that informs how we produce content. Based on our scale,
our data team is looking at 115,000 views of our content every minute. Every minute. We’ve built a very sophisticated
data engine that is able to pull in insights for things like the right color
for the text on the screen, the right size of font, the number of words that
should be on your screen, the fact that videos about dogs have three times
longer watch time than videos around cats. So, the editorial team can say maybe
that dog video should be three and a half minutes but maybe that cat videos
should just be two or something along those lines. You’re able to really start
to use these signals to inform your storytelling.
Michelle Manafy: So,
what’s your growth plan?
Christa Carone: Our business is really becoming much
more analogous to a TV buy. What I mean by that is that we have access to sell
all of the pre-roll against all of Group Nine content across all of the major
platforms. So, you have a television commercial and you are in, say, an auto
company and the pet owner is really interesting to you. You can come to us and
have 100 percent share of voice across all Dodo content on Facebook, on
Twitter, YouTube, Snapchat. You can buy our pre-roll on our channels and
transact that directly through Group Nine instead of the platforms. Brands are
responsive to it because of the importance of brand safety. When you have the
brand safety conversation with a marketer, you need to be able to say here’s
the right audience and it is against premium, brand safe content. It’s
fascinating to me that we’re having more conversations with TV buyers who are
shifting that investment from linear to wherever they can get eyeballs.
Michelle Manafy: I’m finding the distinction between television and all digital video is increasingly blurred, particularly for buyers.
Christa Carone: Completely. I think we have to redefine
what TV means. So, TV is not a device anymore. When the linear players, the
cable players start talking about TV everywhere, we’re in that boat. It
includes YouTube, it can arguably be IGTV, it could be lean-back viewing on
Facebook… It can be TikTok. How define TV going forward is going to be interesting.
Michelle Manafy: Talk to me about how you’re
innovating and how the industry needs to innovate.
Christa Carone: Maybe for some media companies,
diversification is innovative. It’s different at Group Nine because we were
born that way. We’ve learned so much from how past companies have run that we
know what we need to do as a media company. I feel like innovation is really
coming through how companies are able to scale intellectual property.
Christa Carone: I mean that’s been such an advantage
coming into a company like Group Nine. What I’m able to tap into is the
perspective of a marketer and think of everything we’re doing from the
perspective of the client. Will an advertiser really buy into this? I come from
companies with significant brand equity so I’m a massive believer in
intellectual property and that’s what appeals to me about Group Nine. these
aren’t four media companies. These are four brands. So: How can we look at
building brand equity that isn’t just about one particular revenue stream? That
has been super helpful to me to bring more of an innovative marketing approach
to building brands.
Publishers use social distribution to keep up with consumers’ news consumption habits.Anddespite the annoyance and uncertainty of platform policy changes (e.g. Facebook news-feed changes), publishers continue to align their business strategies and social practices.
To better understand this alignment, the Reuters Institute explores distribution strategies across 12 news publishers in six European countriesin their new report, Digital News Project.
While distribution strategies may vary in approach, they center on one of three core objectives:
driving on-site traffic through referrals
driving off-site reach through native formats, and
driving digital subscription sales.
Based on this sample,social platforms offer limited opportunities for publisher monetization. Nevertheless, news organizations can receive indirect benefits in terms of traffic, off-site reach, and/or subscriptions.
Understanding and differentiating between platforms is important for social diversification:
Facebook accounts for the largest share of publishers’ social media traffic. It also delivers higher levels of audience engagement and is considered more cost-effective at driving digital subscription sales.
Twitter offers the most value for generating off-site reach and greater visibility with breaking news.It’sthego-to platform to reach journalists, opinion leaders, trendsetters, and influencers.
Instagram hasthe potential to deliver high audience engagement and promote news brands, especially to younger audiences. It’s a great fit for light content like entertainment news. Publishers view Instagram as experimental.
The Digital News Projectalso examines publisher practices on Facebook after the January 2018 policy change to deprioritize news publishers’ contentin favor of family and friends’ posts. Analyzing these practices provides a performance review ofnews sites’social platform strategies.
For example,Iltalehti, the Finnish tabloid,continues to publish as often on Facebookafterthe policy change.However, Facebook’s new policy resulted in a 28% decline inIltalehti’saverage daily interactions. Unfortunately, Iltalehti’s bottom line is severely impacted since the publication relies heavily on social traffic referrals for monetization.
In contrast, the French publication, Le Monde, decreased the frequency (13%) of their Facebook posts after the policy change. The decline in Le Monde posts resulted in a 29% decline in average user interactions. Le Monde is deliberating on their long–term Facebook social strategy since they too use traffic referrals as a significant part of their overall monetization strategy.Insert le monde chart
It’s important for news publishers to identify their objectives before implementing social distribution strategies. The social approach should allow publishers to experimentwith new opportunities to driveon-site traffic, orto build awareness and brand recognition or to engage users to subscribe to paid service.
The story format is a dominant force in social media because stories-style content facilitates user interaction, which drives engagement. The proof is in the numbers with close to a billion Snapchat, Instagram (and IGTV), WhatsApp (Status), Facebook and Messenger, and Google AMP Stories accounts create and watch Stories. According to a new INMA report, Stories Format: News Media’s Next Social Opportunity, the format proposes a shift in journalism and a new venture for news publishers.
Stories are a mobile-centric social media storytelling format. It’s about using multi-media (video, audio, text, photos, emojis, etc.) across multiple social platforms to tell your tale. Stories also differ from newsfeeds in that they:
stay posted for at least 24 hours.
project the personality of the reporter
serve as an overlay and not dependent on newsfeed algorithms
can offer interactivity
receive top placement on every social media app
News organizations can use the Stories format as an way to connect with a younger, mobile centric audience. In particular, the news media should look to Stories users as a special force to channel real-time, fresh content around breaking stories. In this experience, the user also controls the pace and the order in which they consume the Stories content. News publishers can experiment with Stories and participate in the lean-forward Stories experience.
The Story Principles
The INMA report identifies eight key principles (creates the Snapchat anagram) for the news media to use to create effective Stories:
Suspense and Engagement – build intrigue about your story. Think about developing Stories with multiple uploads throughout the day to build suspense and keep your audience engaged.
Native and Niche – create exclusive content for Stories, nothing repurposed.
Artistic flair – exhibit artistic expression in your Stories.
Personality – ensure your Story captures the reporters personability.
Consistency – make sure your story is update and consistent with what’s happening in the world. Stories live for at least an hour.
Hype – build excitement for your story. Use your Stories as teasers for longer pieces.
Arrange and Prepare – think about storyboarding your Stories to help tell the linear narrative.
Thumb – include interactivity and use the thumb for clicking and scrolling. Polls, voting, quizzes and others are great ways to interact with users.
Who’s Telling Stories?
BBC News, NBC, CNN, The New York Times, The Guardian, and Financial Times are all employing Stories as part of their news storytelling repertoire. Examples include NBC’s Snapchat news show “StayTuned” has 4 million subscribers. BBC News runs a Friday quiz on Instagram Stories, which questions the audience on recent news facts.
Stories offer a huge opportunity for audience growth and a clear path to user engagement. More features will be introduced, and new experiences will evolve (think Augmented Reality). Monetization must now be a focus and there is a need for a new type native ad experience.
When one thinks of local news, the immediate distribution points that come to mind are local TV, local newspapers and local radio. According to the Knight Foundation’s new research, Local TV News and the New Media Landscape, Local TV news is the most profitable one. Local newspapers are on shaky ground, continually losing circulation (and advertising dollars) and local radio is holding its own. However, it is significant to note that local TV news stations are looking to digital for innovative ways to tell their stories and to attract new audiences.
The Knight Foundation cites findings from the Radio Television Digital News Association Annual Survey that 65% of station innovations are focused on digital platforms. The other innovative areas include technical (17%), alternative approaches to newscast presentations (14%) and new organizational structures (4%). Clearly, local TV news is building a digital presence.
An important strategy for local TV news is the digital first approach. Many local stations are broadcasting their content, especially bigger projects, first on digital platforms before on air. This type of strategy shifts focus on audiences and where they want to access their content.
Further, more than three-quarters (78%) of TV news directors report putting new and important content online now. Their strategies include:
Moving newscasts online: More newscasts available online or conducting live events online.
Web-only content: Local TV news stations are also creating content specifically designed for web and mobile platforms.
Leveraging digital to improve storytelling: Stations are experimenting with user generated content for new POVs and storytelling opportunities.
Developing new properties for younger audiences: Stations are also developing digital assets to target younger adult,
Social Media Strategy
In terms of attracting a younger audience, 55% of local TV news stations are emphasizing social media. Fifteen percent are pushing specific social platforms or features (e.g. Facebook Live, Snapchat, Instagram, Twitter and others). Additional efforts also include content creation on digital social platforms targeted toward millennials.
Knight’s social media analyses indicates digital strategies are paying off for many stations in terms of reach and audience engagement. Further, in a content analysis of more than 1,100 posts (on human interests, entertainment, politics, public policy, etc.) for four stations with the highest engagement levels shows increases when social media components are added.
Efforts on social media are paying off and ratings are highest on local news stations when there’s activity on social media. This suggests that the content on social media is additive and not necessarily replacing the local station as an access point of information. Still, local news stations need to find a balance in using social media to find audiences and deliver news.
In efforts to quantify the spread of false information online, Reuters Institute for the Study of Journalism at the University of Oxford, examinesthe reach of fake news in France and Italy. Both countriessee fake news as a serious issue. However, thereport, Measuring the reach of “fake news” and online disinformation in Europe, determined the reach of fake news websites as less than 1 percent of each countries online population.
The study based its analysis on 300 websites in each country that independent fact-checkers identify as publishers of false news. The research combines analytics from ComScore and CrowdTangle to measure usage of both established news and fake news sites. comScore, a web analytics company, uses a combination of panel-based and server-side measurement to provide usage data and CrowdTangle, a web tool, collects engagement data for Facebook accounts using the Facebook API.
The data also shows that the total time spent with fake news websites each month is lower than the time spent with established news websites. Online users spend an average of 178 million minutes per month with Le Monde (France), and 443 million minutes with La Repubblica (Italy), that’s more time than 20 fake news sites combined.
Still the impact of social platforms must also be accounted for in this analysis. Unfortunately, Reuters cannot measure Facebook’s average monthly reach or time spent for any website or article linkFacebook. (Only Facebook has access to this data.)
However, Reuters did examine the average number of Facebook interactions (shares, comments, reactions) with each news outlet to access user engagement. Importantly, based on this analysis, Reuters determined that a few of the fake news websites generated more or as many interactions as established news brands. In fact, one fake news site in France generated an average of over 11 million interactions per month, at least five times greater than established news brands
While the research suggests that articles from fake news sites registered low reach and social engagement in these countries, there are still those one-off articles that reach high levels of engagement. The problem poses serious implications and what still needs to be determine is the impact of the false information on people’s attitudes and beliefs.
Nearly half of all editors, CEOs, and digital leaders (44%) are even more concerned with the powerful role of social media than they were a year ago, reports Reuters’ Journalism, Media & Technology: Trends & Predictions 2018. Publishers note their disappointment with social platforms, particularly with Facebook because of the platform’s role in the circulation of fake news, the lack of promised video revenue, and the decline in referral traffic to many news websites. As a result, publishers plan to be less dependent on social platforms. As one executive summarizes, “Expect more news organizations to pull out of deals with Facebook, Apple, and Snapchat that they consider are not delivering sufficient financial return, focusing instead on building more direct readership.”
Predictions for Publishers:
Restore consumer trust in journalism
Publishers are continuing to strengthen consumer trusts in news brands. Unfortunately, too often quality journalism is posted side-by side with low quality content and misleading information. Most social platforms fail to distinguish between the two. In 2018, publishers will continue to pressure social platform companies to set standards and do more to differentiate brand news content.
Less reliance on advertising
Publishes are working to diversify their revenues to ensure less dependence on advertising sales. In fact, 62% of publishers say that advertising will become less important over time. Publishers need to shift their strategies from reach and advertising engagement to subscription models and tenure.
Improve data capacity
Publishers believe that data is important to their business needs. Nearly two-thirds of publishers (62%) report that improving data capacity is their most important initiative this year. It’s also imperative for publishers to understand and comply with the European General Data Protection Regulation (GDPR) starting this May. The GDPR requires that publishers ask users for consent to use email addresses, to profile and to share their data with third parties working on their behalf.
Predictions for Social Platforms:
Expanding into TV programming
Social platforms are moving into the television business. While Facebook’s early attempts at Facebook Live failed and Facebook Watch has yet to become a must-view entertainment hub, the company is still forging ahead. Facebook is actively looking to secure broadcast programming rights and plans to develop new content to compete with Netflix and Amazon.
New social messaging offers
Growing messaging and access to news is important for social platforms. Reuters Institute data, shows messaging platforms like WhatsApp and Messenger are growing not just for messaging purposes but for accessing news as well. Facebook is launching a tween messaging app specifically targeting this demo. The idea is to draw the tweens in early and eventually expand their usage to age appropriate entertainment and education content.
Publishers and social platform alike are thinking about new business practices and monetization opportunities with their user base. Importantly, as they shift their strategies to meet 2018 goals, it’s key to keep a consumer focus, especially in the development of new content offerings, personal data information and GDPR compliance and new technology implementations.
“At this point, I start from a position of distrust in dealing with Facebook as a company.”
Regrettably, I found myself sharing these thoughts last Friday with reporters who were working around the clock to process the latest Facebook news. And I’m not alone. Even the most trusting publishers have gone from giving Facebook the benefit of the doubt when they rolled out Instant Articles a few years ago, to a “prove it” mentality today.
This is unfortunate considering the power and influence that Facebook has on our lives. Like it or not, Facebook is effectively the largest public square where nearly two billion people around the world gather to exchange information. And there is certainly merit to the argument that the world benefits from the success of Facebook’s experiment to create an open and connected world.
So, what changed?
Business as Usual
Ben Thompson wonderfully captured the heart of the question several years ago, “Even if Zuckerberg is right, is there anyone who believes that a private company run by an unaccountable all-powerful person that tracks your every move for the purpose of selling advertising is the best possible form said global governance should take?”
Our industry is at an important crossroads. In many ways, the Facebook announcement to reorder News Feed priorities isn’t very different from Google’s early shifts and changes (remember Panda?). Many times search engines have been more impactful to the finances of publishers than anything a publisher could control directly. But really, despite some early utopian proclamations, these platforms are just doing business as usual. They lean in heavily to innovation that aligns with their own business interests and has a positive product outcome while slow-walking anything that creates risk to their own financial interests. Why wouldn’t they?
Yesterday, I sent an email to the members of DCN that was quite critical of Facebook. Implicit in my concern is the parallel that can be drawn to Google (something I highlighted in a Washington Post op-ed last October). These two companies are the front door to information for billions of people. So, when they make a tweak or announce a significant shift, the entire information industry needs to pay close attention.
We are paying attention.
Moonshots, Money and Responsibility
Unlike business as usual, “moonshots” are intended to drive real break-throughs that go beyond the horizon of the more cautious bets constrained to basic organizational needs or that don’t inject risk into the cash cows. Last November, we asked Google and Facebook for moonshot-level thinking and initiative to address the fake news and other garbage flowing through their platforms. Yes, the fake news was starting to erode the solid foundation our members’ business is built upon. But the problems go well beyond business. The issues in play resonate deeply through our society.
To put it bluntly, both companies have failed to step up to the task. As a result, there are increasing levels of tension in the press, in Washington, and in Brussels as this distrust spreads. And this isn’t good for anyone.
There are two platform pressures that work against trusted publishers and, importantly, public interest:
Platforms are biased towards solving problems for the lowest-common denominator “publisher” so the solutions can be applied to the wider web. This often creates collateral damage for publishers playing the long game – cultivating brand and engaging customers – and not just focused on immediate financial gain. We’re seeing the impact now as Google attempts to solve for ad blocking or how the industry has dealt with measurement issues.
Platforms also have incredible growth expectations, as they really have one goal to surpass Apple as the most valuable company on the planet. These revenue and profit obligations create an inherent bias toward their own products. In fact, the European Commission already found Google guilty of this. Facebook will always drive consumer intent and publisher interests to the most profitable outcomes. This is why video was Facebook’s #1 priority last year. And now it’s not.
There are also two big issues that affect the entire ecosystem and, importantly, public interest:
Americans don’t trust “the media.” In fact, they trust it less and less each day. The research says they do appropriately trust many of our members and the journalists and creatives they employ. However, what Americans think of as “the media” continues to change and now includes platforms, distributors, advertising technologies, artists, advertisers, and publisher brands. And the public doesn’t separate or even understand where the buck stops with each. Every ounce of research I’ve seen shows that more and more consumers are going to places like Google, YouTube, and Facebook to get their news and information despite trusting these platforms significantly less than other outlets. This distrust in platforms and ad technologies extends into the media at large.
Facebook and Google are the two most significant sources of traffic to publishers. Facebook drives about 17% of the inbound visits to DCN members; Both companies share less than 1% of their revenue with DCN members. They are very important for the discovery of news and entertainment. Yet they feel it is very unimportant to pay for the creation of it.
These gaps aren’t going to be closed through hearings in Washington. They’re also not going to be closed by walking away from dialogue. Ultimately, we need major platforms to decide that moonshots matter and be both humble enough and comfortable enough with their own vulnerabilities to work with publishers and academics on solutions. I don’t see that happening yet but I believe that we’ll get there in time. It’s just that important.
When your employer is first and foremost in the television business, and your job is to manage the company’s entire digital presence, you’ve got your work cut out for you. That’s precisely what Jay Yarow, CNBC’s SVP and Executive Editor, Digital faces on a daily basis. He is responsible for everything that appears online outside of what is being broadcast. That means CNBC.com, Facebook, Instagram, LinkedIn – everything.
Yarow says that the objective of the brand is tracking everything related to business, finance, and investing. “We are aiming to be the most trusted brand when it comes to everything money.”
And his approach seems to be working: In September 2017, CNBC Digital reached the number three position in the Business/Finance News category for the first time ever and delivered a record 49.2 million unique visitors in September, which was up 74% year-over year. CNBC Digital also saw impressive growth in mobile with a record high of 30 million mobile unique visitors in September, up 105% year-over-year. And so far this year, traffic from social platforms to CNBC.com has grown 83%.
Keeping it simple
When he came on board in February 2016, Yarow’s goal was to keep a good thing going and expand upon and improve what he could. “They had a great digital brand in place [when I got here]. It was growing before I got here. I helped to accelerate that growth. They have been doing digital for years. I tried to come in and add some extra,” he explained.
Sometimes, the seemingly small things make a big difference. For example, when you read a CNBC story and you see the bulleted data points summarizing the story at the top of the page, that’s something that Yarow added. “From my perspective, it’s super valuable. Investors or business leaders tend to be busy and don’t have time to absorb a lot of information,” he said. This way, readers can quickly get the gist of a news story on the way to a meeting when they might not have time to read the whole thing.
He also recognizes the importance of social media in reaching his busy audience. “I’m fortunate in that I really enjoy doing these things. It’s not like it’s a chore to check Instagram and check Twitter or Facebook or CNBC.com. These are all things I would do either way and I get to influence that.”
Keeping it real
Yarow says his primary focus is putting together a strong news team that breaks a lot of stories. As he joked, “We are first and foremost a media company. We never have to pivot to video.”
Above all, his focus is on producing high quality journalism. Then, he asks if “the journalism we are producing being rewarded with an appropriately large audience.” As he points out, it is important to be able to support the production of this journalism so reaching a significant audience and monetizing them is essential. “When you are building something, you have to make sure there is a business there,” he said. To that end, Yarow stays in sync with the business side to ensure that whatever he is doing has their support.
And, with so many media properties struggling and announcing layoffs, CNBC has been a marked positive contrast. It’s been growing and adding reporters like Chrissy Farr and Alex Sherman as well as a slew of new reporters to its tech coverage team in the last year. When it comes to different social channels like Instagram and YouTube, Yarow says he tries to hire good people and empower them to do good work. “We have great leaders we trust and empower them to run the different channels. My goal is to have nothing to do.”
“We have really focused on news and making sure we are breaking news. We built out our tech section and made it a strong team. And we are always systematically assessing business news and where we can get stronger,” Yarow explained.
One of the great advantages of being part of CNBC is that we have a lot of great platforms. I see a lot of different tech pieces being built and see what produces the best results.” He added, “We focus primarily on journalism and building a technology platform and tech stack.” And while the company is growing fast, he emphasizes that they are doing so it in a responsible way. “We are not saying, ‘Here is a $100M. Set it on fire and see what happens to our traffic’.”
Fraudulent news poses new challenges in today’s digital society. As such, there is a need for best practices and practical solutions to repair tainted digital information streams. In an effort to develop effective solutions and remedy the information disorder, the Council of Europe commissioned research to delve into the digital information and communication process. The newly released report, Information Disorder: Toward an interdisciplinary framework for research and policy, offers a detailed insights at a global scale and examines the agents, messages, and audiences involved.
The term “fake news” was intentionally not used in the report. Instead, three new terms were introduced to better define the reporting and sharing of false and inaccurate information.
Dis-information is false information purposely created to harm a person, a social group, an organization or a country.
Mis-information is false information not created with the intention of initiating harm.
Mal-information information that is based on reality used to bring harm to a person, a social group, an organization or a country.
The phases and elements of information disorder
Three components are identified in the process of information disorder: the agent, the message, and the interpreter. Agents are involved in all phases of the information chain from its creation, production to distribution. It’s important to explore and provide context to agents to identify them and their motivation. Discovering who the agent is, and the purpose of the message is an important part of the evaluation to help stop the information disorder process.
Evaluating the agent
Is the agent acting as an official person/group (e.g. intelligence services), a politician, a news organization or an unofficial person/group?
Is the agent organized as an individual, an official business group (e.g., PR firms or lobbying groups) or a group casually organized group around common interests?
Is the agent motivated financially to profit from the information, politically to discredit a candidate, socially to connect with a specific group of people or psychologically to gain status?
Is the agent human, automated by technology or both?
What audience is the agent targeting?
Is the agent’s intent to mislead??
Is the agent’s intent to harm?
Examining the message
The message itself also needs to be examined. Analyzing the content for key characteristics is important to determine the accuracy of the information. Asking these questions will also help to identify intent of content.
Is the message for short-term or long-term intent?
How accurate is the message?
Is the message legal or does it include hate speech or privacy infringements, etc.?
Is the message posing as an official source to appear credible?
Who is the intended audience?
Factoring in interpretation
The last component to evaluate in the process of information disorder is the interpreter, the recipient of the message. Audiences, individuals or groups, all react to messages in different manners. Understanding how individuals and groups consume information is critical to understanding the flow of the information. Further, identifying what audiences do with the information, such as commenting, or sharing, are an important part of understanding the intent of the content.
A few efforts were introduced last year to stop the information disorder. They include Tim Cook’s, CEO of Apple, call for Public Service Announcement about dis-information, new technologies to take down bots, and the addition of labels to identify different types of content on social media. Facebook and Google have also announced ways to prevent fake sites from earning ad revenue through their advertising platforms. Unfortunately, none of the programs impede the continuous flow of fraudulent content.
The issue is complex and efforts toward solutions need to work across multi-levels using technology companies, consumers, educational institutes and others. Importantly, it’s essential for all constituents to receive steady reminders