Data-driven Transformation: Lessons from The Economist and different paths to building a data-driven business from @INMAorg PLUS The 'mobile-only' media habits of Gen Z

September 13, 2022

INMA is really ramping up their insights into how media companies can digitally transform themselves. With a focus on data and its role in that transformation, they are providing some practical insights into the process and also some enlightening nuggets of information on the organisational dynamics that support or impede transformation. This is such important information. Traditionally, analyses have tended to focus on success stories, which while insightful, can easily lead to other outlets seeing these digital winners are exceptions rather than the rule. I think the honesty that INMA is approaching its analysis is much more useful for media executives and managers.

And there is a lot more in today's newsletters including Google's iterative approach to its journalism grant making, how rising newsprint costs are pushing newspapers to lean into digital revenue even more, how Bristol in the UK is enjoying a flourishing of news outlets and a summary of the Wall Street Journal coverage of how Instagram is suffering after trying to copy TikTok's success with Reels.

While others practice a long-term ‘go-big-or-go-home’ strategy, Google’s philanthropy has taken the opposite tack.

They found that smaller, shorter bets that could be expanded later led to more iteration. They also focus on projects that are collaborative and replicable, allowing them to scale up in terms of impact.

There is more than one path to creating a data team within a news media company: The Blitz, parallel paths and a merge, and the organic build-out. Which one is happening at your company?

If anything, INMA's coverage of how companies are building their data teams demonstrates how varied these initiatives are. What is incredibly valuable about this research is that Ariane Bernard of INMA is delving into the organisational challenges involved in these transformations. One thing that stands out is how these projects relied on key leaders with a vision for the transformation.

During Wednesday’s members-only Webinar, Tom Standage, deputy editor at The Economist, talked about the unique approach the company has taken toward adopting digital strategies.

Building on the three models that Ariane outlines in her piece, INMA has an interview with Tom Standage, who has been critical for the digital transformation at The Economist. "Great journalism needs great product and engineering teams," Tom said, and he added how important it is for those leading the transformation to understand the culture of the newsrooms that they are trying to transform.

Print price hikes pushing up losses for legacy publishers. Optimism seen in deeper digital transition. With international inflation rates reaching levels not seen since the 1980s, print production and distribution costs are pushing losses up for some legacy publishers. Digital transition is seen as a clear hope for beleaguered publishers; refocusing on digital advertising and …

The pandemic and second- and third-order effects from it have re-ordered so many businesses, and media has definitely seen its share of challenges, particularly newspapers. And as supply chain issues cause prices to spike for newsprint, newspapers have had to sharpen their focus on growing digital revenues, as if this wasn't already a major strategic imperative.

Changes in the news business

Well well well. I guess it’s that time of year again.

The Defector team goes into the details of its first two years including with some excellent numbers about their business performance.

Gen Z is projected to be news publishers’ largest future paying audience. A new INMA report examines their habits and provides tips to help publishers nurture this demographic into future paying subscribers. It is predicted that by 2032 Gen Z will be the primary demographic targeted by news publishers, states a new INMA report, “What …

Gen Z is a major potential audience, and their media consumption habits are even more different than those of Millennials. WNIP summarises an INMA report on how to engage them. For me, the thing that jumped out is that this generation isn't simply mobile-first but mobile-only.

Press Gazette has been reporting on British journalism without fear or favour since 1965. Our mission is to provide a news and information service which helps the UK journalism.

Good, clean and fair: another journalism is possible.

The message here is that not only is quality better than quantity but that unique news and information is better than chasing commodity information.

Press Gazette has been reporting on British journalism without fear or favour since 1965. Our mission is to provide a news and information service which helps the UK journalism.

A fascinating look at how Bristol is the opposite from a news desert. It's interesting to critically think why this might be. It's not just a matter of wealth, as the story points out there is a mix of wealth and poverty living very close to each other in Bristol. No, it's more than that. (I think it might have to do with civic capital, but that is more a topic for proper research based on my own experience.)

Social Media News Roundup

Social Media Today

Social Media Today has summarised the Wall Street Journal report that looked at how engagement numbers have dropped for Instagram especially for Reels, which Meta rolled out in response to TikTok.

Social Media Today

Twitter is working to reframe its importance by focusing not on raw user counts but the role that the platform plays in broader influence networks, in this case news. The major stat that they highlight is the high percentage of people on Twitter who read, watch or listen to news on the platform - 85%. Twitter has a high concentration of journalists, is that a possible reason for the high level of news consumption?