Media around the world are in a battle for survival, after a protracted economic crisis, made worse by the fallout from COVID-19. Its roots can be found in the shift of audiences to digital platforms, where Google and Facebook now dominate the advertising market.
A 2020 global study by the Reuters Institute for the Study of Journalism and supported by WAN-IFRA, , showed 57% of the 165 polled media anticipated a drop in revenues by nearly 20-30%. This follows a decade of consistent revenue declines. Respondents also cited an urgent need for support in product development and technical training in digital skills.
Adopting the philosophy ‘If you can’t measure it, you can’t improve it”, WIN and our team of industry experts help support our media partners in the difficult process of building toward stability by navigating the difficult but urgent transition to digital.
Our goal is to help Advisory partners become more customer centric and audience-focused businesses, make better use of data and analytics to transform and drive strategic decision making particularly around investments in technology, and improve processes to manage costs and improve productivity.
As part of our Stability programme, regional and global industry experts provide advice and training, while a stability coach guides the executive team through the tracking and diagnostic process. Media managers have the opportunity to enroll in a 3-part online training programme focusing on the foundations of digital.
We have also created a bespoke ’Stability Tracker’ tool made available to Advisory partners that is intended to help media organisations track progress, identify issues and apply more rigour to decision making by normalizing the use of data in their companies.
Operationalising Digital Strategy: Digital ABC
This is a foundational training programme to help media professionals in any role understand the impact of digital on the news media industry, and how to become drivers of change within their media. Digital ABC is specifically designed for media operating in emerging and transitional contexts. Module ‘A’ the foundations of Digital provides an introduction to the economics of digital, monetisation, audience development, reader revenue, PDFs, e-editions, and daily digital editions. Module B centres on the building of strategy, understanding fundamentals of business and includes how to write a strategy document. Module C focuses on change management in an organisation and provides a step-by-step guide to operationalising digital strategy. Each module is eight lessons and adopts a hybrid approach of self-led/live webinar format with individual and group assignments. It was created exclusively for WAN-IFRA by leading digital transformation expert Lisa MacLeod and is currently co-facilitated by Lyndsey Jones.
Currently WIN’s stability work is limited to Advisory partners and participants of the Accelerator programme.