Daily Mail CEO on keeping journalism free | WSJ editor Emma Tucker on beating AI
And Jeff Zucker says Telegraph experience has put him off investing Redbird IMI's UAE cash in UK journalism
Good morning, and welcome to your Future of Media newsletter on Thursday, 16 May, brought to you in association with Desk-Net, the tool for planning content in fast-paced newsrooms. Track progress, allocate assignments, and integrate with your tech stack. Discover how.
Is the commercial news media sector turning a corner in 2024?
Future CEO Jon Steinberg believes his business is at an inflection point and pointed to improving advertising and traffic metrics in 2024 when he spoke to me this morning about his half-year results (read the full interview on Press Gazette later today).
The UK’s largest commercial national news publisher, DMG Media, has revealed to Press Gazette that its online revenue is up year on year in the six months since September 2023 and so is overall profit. Given the online advertising pressure most publishers have been seeing, and the long-term decline of print, that is no mean feat.
In his first interview since being appointed DMG Media CEO in 2023, Rich Caccappolo spoke about what is working and why publishers should collaborate to address the existential threat posed by Google’s plan to switch off cookies on its Chrome browser.
He also revealed why he thinks paywalled journalism is a threat to democracy.
The Press Gazette team was at the Sir Harry Evans investigative journalism conference in London yesterday where Jeff Zucker lamented his failed bid to buy The Telegraph. Politicians blocked the deal because it was ultimately funded by the UAE state, but Zucker said journalism needs investment and it has to come from somewhere.
Check out the Press Gazette website today and tomorrow for more useful tidbits from the Sir Harry conference.
We also have the latest speech radio listening figures (fresh out this morning) which reveal a continuing year-on-year decline in BBC local radio as the corporation shifts resources away from the airwaves and into website coverage.
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New from Press Gazette
Hard paywalls are ‘dangerous’ says Mail CEO Rich Caccappolo
“The challenge with hard paywalls is you create this two-tiered group. You’ve got one group that’s better informed and perhaps more tied to facts and you have this other group that’s reading murky or less reliable information.”
Jeff Zucker: ‘It’s going to be easier to invest in journalism outside UK’
“If we’re going to think about the future of news and journalism, we’re going to have to also understand that it needs investing and that’s got to come from somewhere.”
WSJ editor Emma Tucker on how publishers can protect themselves from AI challenge
“Subscriptions are growing, our churn rates are down, the numbers are good. And we’re doing that by making sure we’re giving people original, distinctive, quality journalism that they can trust.”
RAJARs Q1 2024: Hit to BBC local radio continues as LBC’s Nick Ferrari is breakfast winner
The decline in listening hours to BBC local radio in England has continued at 10% for a second quarter after cutbacks to local content, according to RAJAR figures for Q1 2024.
Previously on Press Gazette
No consultation from Apple on plans to block publisher ads and summarise articles
BBC makes ‘substantial payout’ to Diana chauffeur over Martin Bashir slander
Less than half of journalists using generative AI for work, survey
How Birmingham Live became the biggest online local newsbrand in Britain
Our latest podcast
Podcast 71: Daily Mail CEO Rich Caccappolo on keeping journalism free
This episode includes excerpts from an interview between Press Gazette editor-in-chief Dominic Ponsford and Rich Caccappolo, CEO of Daily Mail publisher DMG Media. It also features media consultant Matthew Scott Goldstein. They talk about how to save journalism (and democracy) on the open web by adapting to Google’s plan to switch off cookies on Chrome.
Caccappolo also provides an update on DMG Media’s legal action against Google and reveals how his company is growing overall revenue in a tough market.
Press Gazette live
Entries are now OPEN for the Future of Media Awards 2024 (which celebrate the best journalism-based digital products). Check out the full list of categories here. Note: These awards are free to enter.