Media has always been a tech-driven business, exploiting, over centuries, the development of papyrus, paper, printing, radio, TV and the World Wide Web. The key to each of these revolutionary technologies is that they made the distribution of content fundamentally easier.
While content is the bedrock on which media companies are built, the adage that ‘context is king’ is undeniably true. It doesn’t matter if you’ve invested in an award-winning team of journalists, or that you’ve spent millions on a world-altering piece of data journalism if nobody sees it and it doesn’t benefit your bottom line. The problem is that when there is so much content, so widely distributed, it’s tough to find your audience.
Media companies have been investing huge amounts in building or licensing proprietary tech solutions in order to counter those pitfalls. News UK, for instance, is approaching the end of a trial of a new tech solution designed to reduce subscriber churn as it tacitly admits it cannot grow subscriber numbers forever, while Schibsted is investing in a new techstack across its many titles which allows for greater personalisation and the surfacing of content relevant to its audience.
The same technology that can be used to tailor content to individual users can also be used to deliver more targeted advertising, which is seen as one way to avoid the race-to-the-bottom nature of most digital display advertising.
Additionally, as the push for more ecommerce revenue continues in the face of squeezed display ad spend, publishers are finding they have to invest significantly in the tech and skills behind such transactions. Writing for Digiday, Max Willens points out that where ecommerce retailers are unwilling or unable to share data on transactions, it’s often up to the publishers themselves to make up that deficiency: