Summary

How publishers manage the emerging platform-influenced economics of attention to grow audience and revenue is the focus of “How News Media Wins In the Attention Economy.” The report examines platform dependency, platform attention revenue, the value of attention, and the costs of acquiring and retaining attention.

Key themes in the report

• Social media attention has short-term benefits like driving traffic and subscriptions, yet that attention is not creating much revenue.
• Publishers have become dependent on social media platforms despite risks.
• The news industry lacks proper valuation models for attention revenue.
• Unreliable attention metrics from platform companies have had dire consequences.
• Platform subscription services may generate subscription growth, yet that comes with rising costs.
• As news companies focus more on subscriber retention than acquisition, attention becomes a vital piece of the puzzle.
• There are opportunities for news companies and platforms to cooperate on news distribution and attention monetisation.

Who should read the report?

Executive managements, strategists, and digital leaders of news media companies

Author

Dr. Merja Myllylahti, a lecturer and researcher at Auckland University of Technology in New Zealand, where she serves as project manager for AUT’s Journalism, Media, and Democracy Centre