News media in 2022: Reuters Institute Digital News Report

2022 will be a year of consolidation for a news industry that has been disrupted by the COVID-19 crisis, changing audience behaviour and technology. 

The Reuters Institute Digital News Report tells the story of the future of the news industry from the front line. It covers business models, audience strategies, journalism practice, regulation, and future technologies.

The annual report by Nic Newman, Senior Research Associate, Reuters Institute, is based on the view of 250 leaders in the news industry from 52 markets. It’s a must read for anyone working in the media.

2022 is set to be a year of consolidation for the news industry. Journalists and audiences are burnt out by the relentless of the news agenda, along with polarised political, identity and cultural debates.

In many parts of the world audiences have fallen during 2021 because of these factors.  Key challenge for this year is for news media to reengage, as well as build deeper relationships with regular news consumers.

Three-quarters (75%) of respondents say they are confident about their company’s prospects for 2022, though fewer (60%) say the same about the future of journalism.

Publishers say that, on average, three or four different revenue streams will be important in 2022.

Almost three in ten (29%) expect to get significant revenue from tech platforms for content licensing or innovation, with 15% looking to philanthropic funds and foundations. Others are hoping to restart events businesses that stalled during the COVID-19 crisis.

Concerns relate to the polarisation of societies, attacks on journalists and the free press, and the financial sustainability of local publications.

More publishers plan to push ahead with subscription or membership strategies this year, with the majority of those surveyed (79%) saying this will be one of their most important revenue priorities, ahead of both display and native advertising.

At the same time, many respondents (47%) worry that subscription models may be pushing journalism towards super-serving richer and more educated audiences and leaving others behind.

The news industry, much like the public relations industry, recognises that it needs to work harder to represent the publics that it serves.

Generational issues are a key theme. There’s much internal soul searching in newsrooms over addressing diversity and inclusion, particularly around reporting on issues such as climate change and mental health.

News media has leaked advertising revenue to digital platforms, notably Google and Facebook, over the past decade. Hardening privacy rules related to first- and third-party data, along with concerns over misinformation are bringing revenues back to trusted brands.

This could be the year when publishers start working together more to counter audience and platform challenges. Look out for joint lobbying on policy, more advertising and common login initiatives, joint investigations, and more content sharing.

Regulation would help as the European Union and national governments exercise control over big tech. However, it’s a double-edge sword. News organisations are also exploring next generation technologies such as artificial intelligence, crypto currencies and the metaverse, to entertain and inform.