The British competition regulator is set to conduct a study into the digital advertising market, in order to determine the effect Facebook and Google are having on journalism.
In his speech, given to the house of commons, Wright noted that: “There are now around 6,000 fewer journalists than there roughly a decade ago.
“Print circulation of daily national papers fell from 11.5 million in 2008 to 5.8 million in 2018.
“And in this same time period, circulation for local newspapers has halved”.
Wright then took focus on the online realm, saying: “The main driver is a rapid change in how we consume content. The majority of people now read news online, including ninety-one percent of 18 to 24 years olds.
“And as this shift takes place, publishers have struggled to find ways to create sustainable business models in the digital age.
“As the Review sets out, between them, Google and Facebook capture the largest share of online advertising revenue and are an increasingly important channel for the distribution of news content online.
“They also hold an array of data on their users that news publishers cannot possibly hope to replicate, which further strengthens their position in the digital advertising market.
“This combination of market conditions threatens to undermine the future financial sustainability of journalism. Even publications that have only ever been online are struggling.
“And this should concern us all”.
The review focuses immediately on online advertising, which Wright describes as “largely opaque and extremely complex”, and whether the revenue shares received by news publishers are fair.
Wright’s department will conduct a review on how online advertising is regulated, and also urges that the Cairncross Review be treated as additional evidence in the inquiry into digital competition in the UK.
Wright makes reference to the practices of the BBC, saying: “The Review also questions whether the BBC is straying too far into the provision of ‘softer’ news content, traditionally the preserve of commercial publishers, and suggests this might benefit from the scrutiny of Ofcom”.
Longterm, Wright’s review seeks to establish an institute for public interest news in order to promote investigative and local journalism, in addition to generating additional finance for the sector.
This review follows the ACCC’s proposal for Facebook and Google to show more transparency with their search algorithms, a move that Google vice-president Pandu Nayak warned: “we’re going to hurt the very people we’re trying to help because of the spam and other malicious activity”.
Verizon Media’s talent program has come to an end for the third year, closing with a hybrid pitch-off event for Musicians Making A Difference (MMAD). The Verizon Media Academy class of 2021, made up of 44 emerging leaders from across Australia and New Zealand media, advertising and marketing industry, were given just one hour to […]
Social purpose organisation UnLtd’s Big Games competition has raised a combined $85,000 for children and young people at risk. Running over five weeks, the competition involved 32 teams from across the advertising, marketing and media industries battling it out virtually for a chance to qualify for the Rocket League final. The tournament culminated in a […]
Stan has announced that the Stan Original Film Transfusion commenced filming in Sydney earlier this week and will premiere on Stan in 2022. Transfusion is a taut, muscular thriller starring Sam Worthington (Avatar) as Ryan Logan, a former Special Forces operative, who is battling to cope with life after the loss of his wife and is thrust […]
According to a decade of data collected by iStock, Australian brands turned to imagery depicting outdated gender stereotypes during the pandemic. Tracking the keyword ‘women’, iStock by Getty Images found that in 2020, ANZ brands and businesses reverted to gender stereotypes. Images of mothers home-schooling were used at almost twice the rate of images of […]
Schwartz Media is congratulating Maddison Connaughton on her three years as editor of The Saturday Paper. Connaughton has decided to finish up her editorship this month. “It’s been an honour to edit the paper,” Connaughton said. “The Saturday Paper is one of the brightest voices in Australian media and I have been happy to see […]
Research from EdBbirdie using Spotify data has identified the most popular songs to study to. After analysing thousands of studying and homework playlists on Spotify, American singer Olivia Rodrigo’s ‘drivers license’ came out as top song to study to. It featured on 48 study playlists, while other top songs included ‘Ophelia’ by The Lumineers, ‘Falling’ […]
Dayna Stewart is the Business Director – Digital Marketing, Media & Creative Services at The Nudge Group. Here, she discusses the challenges that come with building a successful marketing team when working remotely. Before COVID-19 changed the way businesses work, most marketing teams spent their days together in a meeting room collaborating on the next […]
The line-up for the 2021 iHeartRadio Music Festival has been announced as the legendary event returns live in Las Vegas in September. This year, the epic two-day lineup for the iHeartRadio Music Festival main stage will feature performances by Billie Eilish, Cheap Trick, Coldplay, Dua Lipa, Florida Georgia Line, Journey, Khalid, Lil Baby, Maroon 5, Nelly, […]
Shop! ANZ is calling on shopper and retail marketing professionals from all retail related disciplines to participate in the first ANZ Shopper and Retail Marketing Industry Survey in four years. This important research provides a guide of where the retail marketing industry in Australia and New Zealand has come from and what is anticipated to […]