We’re not fortunetellers at Goff Public. But as communications professionals, we always have our eyes on the ever-changing media landscape and how it affects our communities. Three of our media experts share trends they are tracking in broadcast, print and social media – and what it might mean for the future of news.
Trend: TV declines, online consumption grows.
Chris Duffy – Vice President, Public Relations
Background: News consumers love watching videos, but most are watching them online instead of on TV. In fact, over 20 million US consumers have cut the cord since 2014, choosing to exclusively get their news digitally and on-demand.
Thanks to online algorithms and more interactive ad formats, 89% of marketers say they believe advertising on streaming platforms is equally or more effective than on traditional TV. Online advertising also provides more opportunities for smaller businesses with tighter budgets to reach highly targeted audiences. For viewers, this means we are consuming fewer ads that are possibly more relevant to our interests.
My take: TV news stations play an important role in local news production but will need to better monetize their digital platforms as news consumption continues to move online. We’re seeing local news channels like WCCO-TV make strides to meet this shift, announcing the hire of a new streaming anchor and reporter earlier this month.
Trend: Local newspapers are becoming a thing of the past.
Madeleine Rush – Director, Public Relations
Background: We’ve lost one-third of newspapers nationwide and two-thirds of our country’s print journalists since 2005, with an average of 2.5 newspapers closing each week in 2023.
In Minnesota, six south metro newspapers closed last month, some of which had been in circulation for 140+ years. Most of the papers closing are weekly publications in areas with limited sources for news. In the Midwest, this is creating news deserts that impact Black, Hispanic and Native American communities in particular.
My take: While we expect this trend to continue, we’re watching for alternative and digital news publications like Axios to fill some of this void, as well as philanthropists to prioritize funding local news, such as the $500 million Press Forward initiative.
Trend: TikTok ban could revamp the social media world.
Nate Kass – Director of Digital and Creative
Background: TikTok’s popularity is undeniable, with a third of U.S. adults reporting they use the social media platform thanks to its fast-paced, short-form content.
Legislation passed this spring threatens to force TikTok’s sale or ban it entirely due to its Chinese-owned parent company, raising concerns about free speech and government overreach in business.
My take: The scramble by established platforms like Facebook, Instagram, YouTube and LinkedIn to copy TikTok’s format foreshadows a major shift in the social media landscape if the ban goes through.