"Newspapers around the world are mapping out the media mix best suited for their readership, as well as seeking revenue streams and monetization possibilities," said Martha Stone, director of the WAN-IFRA Shaping the Future of the Newspaper project, which publishes the annual report.
"Publishers are learning that challenges and solutions are no longer the same at every newspaper, and are digging into demographic and geographic data to help them tailor their offerings to the unique needs and wants of their readers," she said.
The association partnered with 66 research companies, to piece together the world's media and advertising landscapes, define media usage trends on different platforms, and look at how those trends impact the newspaper industry. As change accelerates, publishers must make good decisions quickly and the report aims to better inform those decisions.
The global media market continues to grow as new channels develop and mature. The media industry is expected to grow from US $1.32 trillion in 2009 to $1.69 trillion in 2014, according to PricewaterhouseCoopers and Wilkofsky Gruen & Associates.
Mobile holds much promise when it comes to the newspaper industry's future, as its potential for content, distribution and revenues is starting to be realised, the report said. To cater for mobile readers, news publishers have been developing applications and specialty offerings, and monetizing mobile content through advertising, sponsorships and app fees.
Charging for content online is also a growing trend, as the value of online advertising continues to decline overall. Advertising-only models do not appear to be sustainable in many markets, so publishers are increasingly experimenting with different types of paid models, the study reports.
But finding the right models is a "balancing act," as publishers try to attract enough paying customers to attract high-yield advertising, while continuing to serve larger audiences with some free content. Publishers are experimenting with a variety of models, from making only a small amount of content paid, to putting all content behind a pay wall.
World Digital Media Trends is free to WAN-IFRA members and can be purchased by non-members. Go to www.wan-ress.org/worlddigitalmediatrends/home.php for more information.
