Global Online Press Industry
The global online press and news industry provides readers with almost instantaneous coverage of events through myriad sources. It offers a greater number of opinions and information than print media can due to the time delay of the print format.
Online press industry players also benefit from better reader accessibility, lower costs and the ability to update news quickly. Unlike print media, which offers image and text, online media is more versatile able to showcase images, text, audio options, live news feeds and video coverage.
Segments & Trends
- The number of online journalism startups continues to climb as the age of print newspapers gives way to an online press culture. Low entry costs are a significant factor in online journalism startups, and the industry has been witnessing new types of news outlets, such as Google and Yahoo, introducing sites that mix original news content with links to newspaper stories or feature official reports with their own commentary and blogger opinions. Some news outfits, such as Drudge Report or Huffington Post, meanwhile, are reliant on links to content provided by print newspapers.
- Internet users have access to news in real-time, around the clock by accessing websites, blogs, streams and social media. This relatively new phenomenon has been leading to the decline of traditional print newspapers as an increasing number of consumers opt to follow news events online rather than buying newspapers. This allows them to keep up-to-date with online content being constantly modified and updated in a way that print media does not facilitate. It also allows readers to compare and contrast the various types of news opinions from official sources to more personalized commentary such as blogs.
- Online news also carries an advantage over print media when it comes to advertising, offering a plethora of formats such as audio, video and chat, and also adapting to consumer interest in advertising for mobile devices.
- Many newspapers are also now providing online versions to retain readership. The Economist and the New York Times are capitalizing on this though online pay walls where reader attention is attracted by basic content provided free of charge. This is a bid to have readers pay for premium or exclusive content, which can only be accessed by paying customers. The digital bundle offer is another online service allowing readers to subscribe to news on a variety of devices like tablets, mobile phones and laptops.
- Online press release distributors provide communicators with the means to optimize their online press releases. This involves taking a basic press release to build an optimized web page that will be easily accessible, visible and shared online. Online press release distribution allows communicators to take advantage of online technology to index press releases that will appear as results when topics are entered into search engines such as Bing and Google. Visibility is the main concern in online press release distribution, making content highly accessible to various consumers and businesses – including readers, reporters and journalists. Online press release distribution is a driving force to boost traffic to specific websites, which enhances visibility to help generate revenue, promote new products and keep consumers informed of any developments in the timeliest manner.
Industry Players
Leading players involved in online press release distribution include MarketWire, PRWeb, PRNewswire, Globenewswire and BusinessWire. Online news aggregations include The Huffington Post, Yahoo and Google.
Market Outlook
The online press industry continues to adapt to changing consumer demand and constantly evolving technology. While press and news publishers traditionally dealt with print, they must now adapt to bring in revenue from online readerships that can access news content free of charge. Competition has also become more intense due to outfits such as Yahoo or Google using advanced computer programs to put together links to content from various sources like blogs and newspapers automatically.
Industry performance over the coming years will depend on industry players’ ability to step up their management process to gather news from a greater number of sources and adapt to reader demand. Technology will also continue to play an increasingly pivotal role in the industry, with options to concentrate on local news, new apps, and providing content from more informal sources.
Leading Industry Associations
- Online Publishers Association www.online-publishers.org
- Press Association (UK) www.pressassociation.com
- Australian Press Council www.presscouncil.org.au
