From disinformation campaigns to soaring scepticism, plummeting trust and economic slumps, the global media landscape has been hit with blow after blow.
World News Day, taking place on Saturday with the support of hundreds of organisations including AFP, aims to raise awareness about the challenges endangering the hard-pressed industry.
– ‘Broken business model’ –
In 2022, UNESCO warned that “the business model of the news media is broken”.
Advertising revenue — the lifeline of news publications — has dried up in recent years, with Internet giants such as Google and Facebook owner Meta soaking up half of that spending, the report said.
Meta, Amazon and Google’s parent company Alphabet alone account for 44 percent of global ad spend, while only 25 percent goes to traditional media organisations, according to a study by the World Advertising Research Center.
https://www.yahoo.com/news/broken-news-industry-faces-uncertain-060422019.html
Scripps News is winding down its 24/7 national, over-the-air broadcast news channel, E.W. Scripps CEO Adam Symson told employees in a note Friday. The shift will result in 200 layoffs across Scripps News.
Why it matters: Symson blamed the cuts on financial challenges, noting “the prospects for the necessary revenue growth haven’t materialized,” since the company launched the channel.
- “Scripps News’ current financial position is what has led me to the decision to scale back our approach to 24-hour news and over-the-air coverage,” he said.
Zoom in: In a note, Symson said the 24/7 over-the-air broadcast news channel will be winding down by November 15.
- Scripps News’ live coverage will continue streaming and digital platforms on weekdays.
- The unit’s core reporting team that’s based primarily in Washington will serve Scripps’ local stations’ news operations.
https://www.axios.com/2024/09/27/scripps-news-layoffs-broadcast-news-channel