Business leaders must seize the opportunities of the new media age
Understanding the new media age is a must for bosses, argues Grayling CEO Heather Blundell
Almost 30-years ago, in 1996, Bill Gates wrote his seminal essay, “Content is King,” examining the paramount importance of content in the digital era.
The future he envisioned – a print press evolving into electronic online editions with deeper and more interactive content; the global democratisation of content and paid creators – was remarkably prescient.
As Gates predicted, the avenues by which we produce, consume, and share content continue to expand and evolve.
From the rapid rise of media influencers and explosion of social media diversification to the arrival of AI in newsrooms, it’s an era of profound transformation.
The personal news era
The scale of this change is revealed in a new research report launched today, with analysis and observations from range of new and traditional media experts and journalists.
It signals a clear and seismic shift towards a new media age; one in which individuality and personal connections are valued over mass media content driven by news organisations.
These changes are not merely on the horizon, they are happening now, in real-time.
Earlier this month, the London Evening Standard delivered its final daily print edition while the Guardian Media Group recently disclosed the potential sale of The Observer – the world’s oldest Sunday newspaper – to Tortoise Media, an online multi-media news platform.
And it is the younger generations, those not even born in 1996, who are driving this evolution as they seek out trusted voices and content across a multitude of platforms and mediums.
It is particularly striking that journalists are now seen as overwhelmingly more influential than the publication or news outlet they work for by younger generations.
Half of 18-to-34-year-olds believe that journalists are more influential than their associated news brand.
This is fuelling the rise of the media influencer and helping to forge stronger connections with specific journalists. Almost half of this age group report that a journalist has changed their opinion on a topic, compared to 13 per cent of those over 55-year-olds.
These are fascinating trends, the implications of which will be felt far beyond the media industry, impacting how businesses and their brands succeed in this new media age.
The resounding message, and one that must be seized by business leaders, is of loyalty.
This is not a traditional trust based solely on reliable and accurate reporting. It is a loyalty to selected journalists and to content that is engaging, which builds personal connection and aligns with a shared world view.
Loyal young audiences
It is here where the biggest opportunity exists for businesses of all sizes, new entrants and established brands.
Younger consumers are increasingly loyal – much more so than older generations – but this loyalty is hard-earned and will be won by those who can show a new level of two-way connection, honesty, and authenticity.
The lessons for business are clear.
In an era of divisiveness and fake news, people are intentionally curating their news feeds and digital spaces, selectively identifying voices and brands that speak to their values and beliefs. Business leaders must do likewise and communicate in an authentic voice across all media platforms, new and traditional.
In an era where the volume of content can feel overwhelming amid the cacophony of polarising debate, people are identifying content that they really connect with.
Business must do the same and create compelling and creative content that is in tune with their key audience.
Also, in an era where individualism and the personal brand demand is set to increase, where everyone has access to an audience; business must do the same and showcase senior leaders with a clear personal brand and point of view – otherwise, others will fill this space.
And as this new media age marches on, so too must businesses diversify and evolve, exploring every touch point they can to effectively communicate with their consumers.
Content communicated with authenticity, humanness and honesty – this is the content that rules supreme in this new media age.
- Heather Blundell is the CEO of Grayling UK. To read the media trends report in full, please click here.