Media companies require a fragile steadiness between the conventional channels the trade is constructed on and the digital ones which have come to dominate publishing. And that steadiness appears totally different relying on the dimension of the writer, based on a Digiday+ Research survey of greater than 80 writer professionals.
Digiday’s survey discovered that small to medium-sized publishers depend extra on the income they get from digital channels than their bigger counterparts.
Nearly two-thirds (65%) of writer execs who work for small to medium-sized publishers (or those that made lower than $50 million in income final yr) stated their firms generate most of their income totally or largely from digital channels. Meanwhile, half of writer execs who work for giant publishers (or those that made $50 million or extra in income final yr) stated the identical.
Meanwhile, one-quarter of enormous publishers stated they get most of their income totally or largely from conventional channels, and the identical share stated their income comes about equally from conventional and digital channels. For small to medium-sized publishers, 19% stated they get most of their income totally or largely from conventional channels and 16% stated they get most of their income equally from conventional and digital channels.
Digging deeper into the knowledge, Digiday’s survey discovered that publishers are more likely to say their income comes totally from digital channels than conventional ones — not a groundbreaking level, however positively an attention-grabbing one. In truth, when publishers general, the largest share of respondents stated they get their income totally from digital channels (29% stated this in 2023, on par with the 28% who stated so in 2022). Publisher execs who stated their firms generate most of their income largely from digital channels got here in at 27% (the identical share as final yr), placing this class in a detailed second.
This sample continues with small to medium-sized publishers, though on a bit extra of a drastic scale. Nearly half of writer execs who work for these smaller publishers (45%) stated this yr their firms get their income totally from digital channels — a major leap from the 34% who stated so final yr. Small to medium-sized publishers who stated they get their income largely from digital channels got here in second on this class too, however, with 21% of respondents saying so this yr, it’s by a large margin. It’s additionally price noting that this can be a massive dip from the 31% who stated this final yr.
It’s a distinct story for writer execs who work for giant publishers, although. Digiday’s survey discovered that giant publishers’ income methods usually tend to be extra diversified than their small and medium-sized counterparts.
In truth, eighty-five % of writer execs who work for giant publishers fell in the center of the scale, saying their firms get most of their income largely from conventional or digital channels or about equally from each sorts of channels. One-quarter of enormous publishers stated they get most of their income largely from conventional channels, the identical share stated they get their income equally from conventional and digital channels, and 35% stated they get most of their income largely from digital channels.
There are some further issues price noting right here: First, the share of writer execs who work for giant publishers who stated their firms get most of their income from largely digital channels noticed a giant leap from final yr to this yr, from 21% in Q2 2022 to 35% in Q2 2023. Second, the share of enormous publishers who stated they get most of their income totally from digital channels truly noticed a little bit of a drop-off from final yr to this yr – from 21% to fifteen%.
Finally, not one respondent to Digiday’s survey who works for a big writer stated their firm will get most income totally from conventional channels.
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