The emergence and development of artificial intelligence (AI), changes in social media policies, and shifts in news consumption patterns among younger readers are just a few of the headwinds that journalism must overcome. At the World News Media Congress 2024, organized by the World Association of News Publishers (WAN-IFRA) in Denmark at the end of May, some of the most frequently mentioned terms are listed below.

1. AI in the newsroom

In the initial phase, AI was integrated into various stages of the newsroom workflow. This technology is being used in news production, such as data collection and analysis, transcription, translation, summarization, and headline creation. AI is also being used in business.

News organizations generally agree that AI should be used in areas that make work more efficient and free up resources, allowing staff to focus on producing more valuable news. According to Financial Times CEO John Riding, AI truly “frees up resources to invest in some of the traditional strengths of quality media and excellent journalism.” However, news organizations need to establish clear guidelines and policies regarding the use of AI, not only internally but also for readers.

2. 'Freemium' Wall Fees

Many news organizations are experimenting with diverse pricing models, including "freemium" walls, a combination of the words free and premium. This model allows readers to access basic articles for free, but requires a subscription to access high-quality, exclusive content.

Freemium pricing helps newspapers maintain page views at a certain level, with advertising serving as the mainstay of revenue. Some media outlets that have adopted the freemium model include the British Daily Mail and the German news site Blick.

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Journalism must change to adapt to rapidly changing news consumption trends. Photo: metamorworks

3. Vertical B2B content

As an additional revenue source to supplement the traditional B2C model, news organizations are gradually shifting towards B2B. This allows them to provide business-specific content tailored to businesses rather than individual readers. Offering specialized content is also a way to differentiate themselves in today's journalistic landscape.

"In a digitally saturated world, you need to find your 'rarity.' Once you find it, you'll find your value. Once you find your value, you can determine the price," said Juan Senor, president of the media consulting firm Innovation Media Consulting. Some examples of news organizations that have adopted this model include the Financial Times, Groupe Sud Ouest of France, and Watchmedia of Denmark.

4. Emphasize authenticity.

Verification is becoming increasingly important with the advent and rise of AI and the influence of social media. By dedicating resources to ensuring news content is based on factual and accurate information, news organizations can strengthen reader trust and enhance brand power. This, in turn, encourages readers to pay for news from trusted sources. Thus, verification also has business implications. AFP is a leading newspaper in this regard.

According to Senor, "journalism acting as a fact-checker will be the new 'value-added' element. People will pay to verify fake news."

5. Selling news in packages

News subscription packages have been around for a while. According to the New York Times, the growth in paying users is partly due to those subscribing to packages that include news, games, and product recommendations.

The components of the package are diverse and variable, spreading across different industries. For example, readers might subscribe to a news website and receive discounts on online entertainment content platforms.

(According to Korea Times)