What's Next, Now: May 2023
This month, our crystal ball predicts a cable news exodus, the revival of the autonomous car, a turning point for paywalls, and more.
The firings of Tucker Carlson, a titan at Fox News, and Don Lemon from CNN have created a reckoning for cable news — the moves mark a definitive end to an era where Carlson and his counterparts ruled the airwaves. No replacement is currently in sight to revive the waning industry.
But if TV audiences are leaving cable, where are they going? The obvious answer is streaming services. Last year marked the first time streaming watch time overtook cable viewership. The proliferation and popularity of online TV platforms has been on the rise for years, and all signs point to a streaming-dominated future.
But that’s not the only destination for cable emigrants — local, over-the-air stations are also getting a boost. Next season, the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury will end their relationship with their regional cable sports network and air all games on local broadcast channels. For many, these local stations are more trustworthy than national networks. In a recent survey, 44% of Americans reported high emotional trust in local news, compared to just 21% in national publications.
For news junkies, social media is now a number one destination — adults under 30 even report using social media as their main source of news. (That likely influenced Tucker Carlson's plans to start his own news show on Twitter.) Podcasts are also proving to be a trusted news source — a new Pew Research survey found 87% of Americans who hear news on podcasts expect it to be accurate.
The slow death of cable has viewers migrating to other platforms. Households are no longer tuning in to the same news broadcasts each night to get their information. These moves reflect a larger cultural shift that has been building for years: the end of mainstream culture. With the rise of the internet and social media, more information is available and accessible than ever before. Trends rise and fall at rapid rates, and it’s easy to find your niche in a fragmented landscape, instead of relying on cookie-cutter sources.
To avoid being left behind, brands need to employ a similar strategy to diversify where and how they show up. Increased precision and a willingness to expand beyond the mainstream will be the key to staying relevant as audiences evolve.