• by Ray Schultz , January 4, 2023

Publishers had a reasonably good year in 2022, but 2023 could be rocky, judging by new research by the Alliance for Audited Media (AAM). 

In 2022, 67% saw an increase in digital subscriptions, and 40% reported increased web traffic. But 80% experienced rising production costs, and 53% were hit with distribution challenges.   

The survey was limited to 30 executives at AAM-audited publishers. This is not projectible, but it does provide a snapshot. Of those respondents, 82% said advertising would continue to be a main source of revenue, while 57% expect digital subscriptions would be a primary source, and 54% said the same about print subscriptions.   

Looking toward this year, executives from organizations in Canada, the UK and U.S. offered these suggestions:  

Develop First-Party Data

“Acquiring and managing first-party data is essential for local media to build a successful online business, particularly with imminent cookie deprecation and consumer privacy regulation,” states Fran Wills, CEO of Local Media Consortium. “Publishers and broadcasters made great strides in nurturing customer relationships and increasing engagement with local audiences, which are vital to both consumer and advertising monetization.

Diversify Third-Party Platforms

“I hoped the industry had already learned this lesson, but some of what I’m seeing reminds me that there is no reliable third-party platform,” says Michelle Manafy, editorial director of Digital Content Next. “Each emerging platform that attracts significant users offers the opportunity to reach new audiences. However, it is critical to diversify platforms to avoid unnecessary risk when one changes its policies in a way that can negatively impact a media brand.”

Understand And Serve Gen Z 

"This group had $143 billion in buying power in 2018, representing 40% of global consumers," states Rebecca Frank, vice president, research & insights for News/Media Alliance. "And while they are constantly consuming news and information online and via their mobile devices, they are not turning to traditional news sources in the same way as previous cohorts."

Work to Maintain Trust

"The fragile nature of trust -- hard-won but easily lost,” says Simon Redlich, president, International Federation of Audit Bureau of Certification and chief executive, ABC UK. “Not a new lesson but something we’ve been reminded about on a regular basis in 2022.”