Since the event, we’ve been working away in the background to compile all the actionable takeaways from the focus sessions – you can read them below.
Innovations in publishing: key trends and insights for this year and beyond
In the opening keynote, Juan Señor walked us through the findings from the 2024-25 Innovation in Media World Report. Based on 12 months of research the work showcases AI-powered media, freemium models, and strategic principles for driving sustainable profits.
Key takeaways from the opening keynote:
- Find a niche, have a voice, and build a community.
He also emphasised the importance of having exquisite design, as design has become content and is more important than ever. - Pursue a three-thirds strategy to go beyond ad revenue.
Publishers should look to receive a third of their revenue from ads, a third from readers, and the last third from other revenue streams. - Don’t be dependent on platforms to build a business.
You can’t build a media business on someone else’s platform and digital-first does not mean social first. Migrate away from a social media-centred strategy – you can put teasers on social but don’t give all your content away for free. - You must have a human first, human last approach to AI.
Only 8% of people trust generative AI, so it’s important to always fully disclose your AI use. Brands can either choose to sue, sell, or get scraped by AI – 30% of content that is training AI is journalism so it’s crucial that publishers protect their content. - Make first-party data collection a priority and combine your data and paywall to create a tiered freemium model.
Bundling also increases value perception and conversions, incorporate access to e-commerce services, games, and multimedia content alongside your journalism for example. - Print is eternal and will not be replaced, but it has evolved.
People value the quality and sensory experience – and we have seen a shift to special editions, vintage revivals, keepsakes, and coffee-table art.
The start-ups redefining publishing
- Take on feedback and pivot.
The only way to learn is to get out there and network with peers or the people your services are aimed at. Your ability to listen to feedback and adapt to the changing demands of the market is what will make you successful. - Think about the why.
Your strategy needs to be customer-centric. Market research should underpin everything you do – identify what your customers need you to deliver and make sure their voice is heard in your boardroom. - Focus on prescriptive content.
Most publishers create descriptive content (describing what’s happening and reporting on that), but predictive content (e.g. next season’s colour will be blue) adds more value. If you want to take your content to the next level, be prescriptive (next season’s colour will be blue and here’s what that means for your business).
Events with impact: how to deliver commercial success through live experiences
- There’s been a shift towards experience-led sponsorship.
Don’t waste an opportunity by just sticking your logo on something. People need to get to know your brand and the solutions you can offer their business. Leveraging networking opportunities and bringing together a group to share knowledge is most valuable for sponsors and attendees. - Early bird discounts might not be the best way to secure bookings.
The people who engage with these offers tend to be repeat bookers or were going to purchase anyway. - Work out a format, trust it, and get buy-in from everyone.
Find out what your audience wants and listen to that. Robust planning will allow you to build momentum, and remember, if you’ve got a premium product, don’t be scared to ask for a premium price.
Staying on top of innovation
- There’s only two reasons to invest in change…
Maintain or increase revenue or to maintain or reduce costs. - Sometimes off the shelf solutions work better than bespoke.
It’s important to do your research to ensure you implement the right tech stack – intentional choices will ensure good integration. - Start small.
It’s easy to get overwhelmed with blue sky thinking, but sometimes focusing on something that’s achievable but will move the dial is the best place to start.
Strategies to grow your members and subscribers
- Identify your ideal customer profile.
Use data and insights to gain a better understanding of what your audience wants, but don’t solely rely on data as it can be misleading. Make sure you get in front of your audience with surveys, events, or focus groups. - Pay more attention to lifetime value rather than revenue.
The goal is retention. One area of focus should be your onboarding journeys, tailor them to customers’ needs. Also, good customer service and a variety of payment plans are key factors for retaining customers. - Make educated guesses about future consumer behaviour.
A good way of doing this is by studying the adjacent industries, which lets you understand the kind of services your competitors and other brands are providing.
Unlocking the real value of your media business
- A clear vision is the most important factor.
Make sure your team is on the same page and believes in the vision and regularly check in. - Adopt a private equity mindset.
Have a revenue and operational focus when thinking about mergers and acquisitions. Growing profit is only part of the story, it’s more important to think about how value is created. - Reprogramme what people think their jobs are.
Value creation is not just about spreadsheets but also the company culture. There will always be tension between strategic goals and day-to-day operations, but you will see more of a shift if your team focuses on what they can do to make your communities’ lives better.
The new revenue growth drivers
- Balance, balance, balance.
It’s important to manage the balance between new opportunities, and existing high value but lower growth revenues that the business has been built on. - To find new areas of growth you may need to redefine your purpose and mission.
Take a step back and think about why your business exists and what you bring to your community – you may discover that you need to pivot focus to reach new audiences and meet the needs of your current audience.
A return to journalism: the next generation
- Journalists must be more versatile than ever.
Multimedia content is evolving at a rapid pace, and sometimes it feels like just as you’ve mastered one platform, another comes along. But journalists need to experiment with different storytelling techniques to cut above the noise and find the right format for their content. - The relationship between journalists and their audiences has changed.
With the rise of content creators and user-generated content, audiences have come to expect authenticity from their storytellers via a variety of formats. - The rise of misinformation, the dominance of social, and AI.
These factors threaten the bedrock of trusted content but also create the biggest differentiation between untrained content creators and professional journalists bound by editorial standards. Journalists need to build communities and foster trust by delivering timely, thoughtful, and accurate content.
A huge thank you to Julian Linley for producing the agenda. And to our press team for gathering the Conference key takeaways…
Devangi Sharma – MA Journalism Graduate, City, University of London
Joyce Badibanga – Brixton Finishing School 2024 Alumni
Isabel Dempsey – MA Magazine Journalism, City, University of London
