The news industry faces challenges from tech giants and is unsettled by a broader lack of trust. But a deeper problem is that most people just don't want to pay for online news, according to risj_oxford
LONDON - News organizations are being challenged by technology giants and unsettled by a broader lack of trust but they have a much deeper problem: most people don’t want to pay for online news, the Reuters Institute found.
The mass migration of advertising to U.S. technology giants such as Facebook, Google and Amazon has hammered revenues while more than half the world’s population now has access to news via an internet connection.The Reuters Institute for the Study of Journalism said in its annual Digital News Report that most people would not pay for online news and that there had been only a small increase in the proportion of people willing to do so in the last six years.
“Some of the biggest brands have already shown they are able to attract a large number of paying subscribers, but the road ahead will be more challenging for other publishers,” he added. Still, almost 40 percent of new digital subscriptions at the New York Times are for crosswords and cooking, the Reuters Institute said, citing an article by Vox.
“Not surprisingly, news comes low down the list when compared with other services such as Netflix and Spotify – especially for the younger half of the population,” he said. That could deny publishers a direct link with consumers, limiting the information they have to make targeted advertising more effective, and valuable.
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