Reuters: Quality news demand doesn’t translate to payment
June 1, 2016
The results of Tomorrow’s News – a global survey of Reuters.com users exploring how they consume their news today and how this might change in the future survey – paint a picture of sophisticated consumers with a passion for news and a global outlook, who value news content from trusted news brands with credibility as well as in-depth analysis and impartial reporting. While they place high value on trusted brands, 85 per cent of respondents check multiple sources when a news story breaks.
Passion, however, does not translate to payment: 62 per cent of respondents agreed that they would not pay for content, even if it is unique and of a high quality.
Millennials consume more of all types of news, want immediate content (60 per cent strongly agree that they like to know about a news story as soon as it breaks, versus 46 per cent of the total sample) and are more engaged with social media, actively sharing news. 81 per cent check the accuracy of shared news with trusted sources. However, they also value trusted brands and content as much as other age groups and are less interested in well-known journalists, reporters or presenters. While they consume news in different ways, 59 per cent of Millennials accept that ‘My consumption of news will change through different stages in life’.
Finally, most survey respondents are optimistic about future demand for news content and the role of news brands. 50 per cent (58 per cent of Millennials) agree that their news consumption will continue to grow, and only 12 per cent (11 per cent of Millennials) agree with the statement ‘News brands will disappear’.
According to Munira Ibrahim, Reuters Senior Vice President for Sales and Content Solutions, the findings of Tomorrow’s News show a sophisticated, media savvy audience with a passion for global news. “These users value trusted news brands and high quality reporting, consult multiple sources and verify news shared via social media. They are optimistic about the future of news brands and believe their news consumption will continue to grow, but they are not willing to pay for this content. Therefore the question for news organisations is still: ‘How can we fund this contradiction?’”