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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

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
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.

After 260 journalism innovation grants, Google has decided smaller and quicker is better - Poynter
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.
INMA: 3 media companies share 3 paths to building data teams
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.
INMA: The Economist moved from a legacy newsroom to a data-influenced one
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 force deeper focus on digital revenues | What’s New in Publishing | Digital Publishing News
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
Two Years Of Defector | Defector
The Defector team goes into the details of its first two years including with some excellent numbers about their business performance.
By 2032, Gen Z will be the primary demographic for news publishers: How to engage them, starting today | What’s New in Publishing | Digital Publishing News
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.
Justin B Smith: Semafor will reinvent the newsroom ‘to attack information overload’
Slow journalism could be a solution to journalistic crises - The Fix
The message here is that not only is quality better than quantity but that unique news and information is better than chasing commodity information.
How Bristol managed to survive the crisis in local news
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 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.
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?
Did you enjoy this issue?
Kevin Anderson, Consulting Services Director, Kaldor/Pugpig.

Digital transformation and product development with a media focus.

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