Digiday Research: With ad businesses suffering, publishers turn even more to subscriptions
The impacts of the coronavirus outbreak are still just beginning to be felt on the economy. In media, the global pandemic has meant a forecasted drop in ad revenue and event revenue for publishers. About 88% of them say they will miss their forecasts for the year.
In response, publishers are also ramping up focus on certain parts of their business.
A new Digiday Research survey on the business impacts of the coronavirus outbreak has found that 40% said spending more resources on building their subscription businesses is their biggest priority, while 32% of them also indicated that branded content programs and “virtual events” are now taking up more of their attention and resources.
But for many, spending more resources simply isn’t an option. Some of the publishers who took this survey said that they “aren’t spending resources because we can’t afford to.” Another said: “We’re not reallocating resources, we’re diminishing resources.” Others are cutting any sort of spending radically, including on overheads like office space.
According to our benchmarking research, the priorities before the outbreak were growing direct-sold ads, programmatic ads and branded content revenue. Subscriptions were the fifth priority for most publishers heading into the second-quarter, just as the outbreak started to make its presence felt in the U.S.
-
‘More regulatory minded’: ANA’s lobbyist on what advertisers can expect from Biden’s presidency
The ad industry will try to convince legislators that advertising and digital communication are central to economic recovery.
-
‘Not just the Zoom happy hour’: Why publishers are adding benefits to lift employee peace of mind
Digital publishers have invested in providing employees with more virtual wellness services and career development programs in order to ease staffer stress levels.
-
Why ethical dilemmas are putting brands and their media buying in the spotlight
As the U.S. presidential inauguration comes to pass, marketers are increasingly aware that what they buy has an impact on society.
-
SponsoredThe evolution of shoppable content lies in social media streams
With the physical and social aspects of shopping stripped away due to various lockdown restrictions around the globe, shoppable social media is poised to fill the void. In a recent example, Instagram launched its Reels and Shop tab for users to connect with brands and creators — and to discover products. The social media platform will […]
-
WTF is a SPAC?
An increasing number of companies, including media organizations, are turning to SPACs as a non-traditional means of taking their companies public.
-
‘Elevate the next generation’: As social platforms begin Black creator programs, critics say they need to do more
As social platforms launch Black creator programs, Black creators say they need to do more in support of diverse creative voices.
