Without generating revenues directly from readers, journalism is doomed, write the editors of FIPP and Innovation Media Consulting’s Innovation World Report in their editors’ letter for the 2018/19 edition.
The 9th annual edition of the Innovation in Magazine Media World Report will be launched on 19 March 2018 at the Digital Innovators’ Summit (DIS) in Berlin, Germany.
With digital advertising not media’s saving grace it once – from when most the industry “committed the sin” of putting all of their content online for free – promised to be, “it will never support our journalism”, John Wilpers and Juan Señor write. “Only journalism worth paying for will save journalism.”
Without reader revenue, it’s game up.
Without it, everything else will soon be pointless.
In their editors’ letter Wilpers and Señor write, “The future of magazine media has much potential… but without the support for the folks for whom we create all this great content, well, it will be increasingly unprofitable, and, ultimately, unsustainable.”
They emphasise that “reader revenue is not simply subscriptions”, but includes a diverse portfolio of revenue streams from readers, from commerce to events and newer media formats.
The Innovation Report is written for FIPP every year by Innovation Media Consulting, a global consultancy helping publishers succeed in the digital age. The report author is John Wilpers, Senior Director USA of Innovation Media Consulting, and it is edited by Juan Señor, Senior Partner.