What's Next, Now: October 2022
This month, our crystal ball predicts a streaming revolution in sports, a new debate on data privacy, a budget-conscious holiday shopping season, and more.
The data is in and the results are clear: Social media is taking over news. Pew Research recently released its annual report on news consumption across platforms, which revealed half of all Americans regularly get their news on social media. But for adults between the ages of 18 and 29, that number jumps to 76%. The under-30 demographic is the only group to report a preference for social media over any other platform. Only 62% access their news through news apps or websites, and far fewer (just 21%) still read print publications.
News media organizations are taking note and shifting strategies to align with the changing preferences of their audiences. Outlets are putting more investment into building a presence on social media — The Washington Post, for example, has a team of nine dedicated solely to Instagram.
But the changes aren’t limited to an increased focus on social media — these emerging trends in news consumption are also transforming the news platforms themselves. The Verge, a popular technology news website from Vox Media, recently announced a complete overhaul of its platform into what it’s calling an editorial news feed. The new homepage is designed to meet users where they are when it comes to news consumption. It aims to accomplish that with a social media-inspired experience that features short, tweet-like blurbs from Verge reporters, embedded social posts from Twitter to Reddit, and even curated links out to other news media websites. The rebrand focused on making the homepage engaging, accessible, and fun — as if you were getting your news on social media.
The Verge isn’t the only news source leaning in to short, easy-to-access content. Axios recently drew in $525 million with its signature no-nonsense, digital-first style of reporting, making the company one of only three digital news startups to sell for more than $500 million, alongside Politico and The Athletic.
As news media organizations continue to transform to keep up with consumer preferences, brands will need to adjust their earned media strategies to avoid being left behind. Look beyond legacy media and follow engaged audiences to where they are. A heightened level of precision and openness to new media will be the key to identifying the right audiences, outlets, and messages that will resonate.