The biggest challenge for 2024 will be embracing the best of Artificial Intelligence (AI) while managing its risks. This is the main conclusion of Reuters following an online survey that saw participants holding senior positions (editorial, commercial, or product) in traditional or digital-born publishing companies, drawn from 56 countries and territories.
The Institute also expects an increase of copyright battles, following the New York Times’ lawsuit against OpenAI over alleged copyright infringement. The survey shows that in fact 70% of respondents think that AI and Generative AI will lower trust levels in the news overall. As big tech companies try to regulate its usage on news platforms and require users to declare any use of AI when uploading content, it is clear for Reuters that fighting disinformation will be a key focus for the EU this year. Publishers are now keen to secure arrangements between the industry and the platforms to promote high quality content from reliable sources.
Just half (47%) of media leaders interviewed by the Reuters Institute (47%) are confident about the prospects for journalism in the year ahead. The reason concerns mostly the rising costs, declining advertising revenue, a slowing in subscription growth, as well as increasing legal and physical harassment. However, upcoming elections in over 40 countries all over the world may boost consumption and interest among users, Reuters says.
In response to a sharp decline in traffic from social media sites, three-quarters of publishers (77%) told Reuters that their focus will shift to direct channels, especially WhatsApp and Instagram broadcast channels for publishers, and a fifth (20%) of them anticipate cutting costs. The majority of media leaders also plan to produce more video content on platforms such as Tik Tok and YouTube Shorts, with the intention of building relationships with younger audiences. Together with that, publishers will turn to a visual distribution of podcasts on platforms such as YouTube.
With regards to business measures, publishers will keep on investing in subscription and membership, with 80% of them believing that it will represent an important revenue stream. This follows the decision of Elon Musk to charge for blue ticks on the platform X, a move followed by Meta – now offering a paid version of both Facebook and Instagram in EU countries. Other social media platforms such as X or TikTok will also present various premium services, including ad-free and privacy-friendly options.
Reuters also predicts that the year ahead will see more diverse reporting, with the striking examples of young activists, journalists, and content creators beginning to shape the news all over the world. To this respect, mainstream media is already moving forward and recruiting young reporters to expand the range of voices that cover stories.
Reuters Institute concludes stating: “Technology continues to move at an extraordinary pace. Publishers know that they need to embrace these next disruptions but the full implications are unlikely to be clear for some time.