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Lessons from the creator economy: Journalist, creator or both?

In this introductory column, Charlotte Henry explains why we should be paying attention to the creator economy and what has shifted in the power dynamics.

 

In a new monthly column for Media Voices, The Addition’s Charlotte Henry will be focusing on what business lessons publishers can learn from creators. And not just Mr Beast and his ‘gazillions’ of YouTube views; Charlotte will be writing about the individuals and small businesses covering everything from tech to beauty, that are doing the hard work needed to grow audiences and revenues.

In this introductory column, she explains why we should be paying attention to the creator economy and what has shifted in the power dynamics. From the work of Taylor Lorenz at the Washington Post to Piers Morgan’s YouTube pivot mentioned in yesterday’s newsletter, traditional outlets are starting to get wise to what is going on in the creator economy and why people are engaging with it.

“It would be wrong to claim that this work can fill all the holes being opened up in legacy media, but these creators can still do a huge amount of good. It’s why I’m so excited to be covering these developments in this new monthly column,” she writes. “The most exciting part is that we’re only at the start.”


 

Guardian forecasting £39 million deficit as ad revenue falls 16%

Advertising revenue came in £12m below budget at Guardian News and Media in the nine months ending 31 December.

After a couple of good years, Guardian News and Media’s final numbers for 2023 present a starker outlook. Advertising revenue was down by 16% to £9 million in the nine months to 31st December, and membership revenue from readers was £3 million behind budget. The Sunday Times reported that GNM is now “braced for cuts” and that Guardian editor Katharine Viner told staff they “should worry but not panic”. ????


 

Is the media prepared for an extinction-level event?

Ads are scarce, search and social traffic is dying, and readers are burned out. The future will require fundamentally rethinking the press’s relationship to its audience.

If you want pretty much all of the media business’s doomsday scenarios rolled up into one nice, neat, long read then this is for you. For the New Yorker, staff writer Clare Malone has taken a step back to look at the industry we all work in and it’s not a pretty sight. She writes, “The crisis is here, and it needs solutions if we’re going to keep recommending, in good conscience, that promising young talent join the media’s ranks.”


One publisher is about to embark into the world of podcasting and is looking for some advice from other publishers on getting started. Join the conversation.


 

Slate reports best year

Amid a difficult year for news media last year, at least one legacy digital media company has quietly been moving the other direction.

It’s not all bad news, honest! Semafor’s Max Tani is reporting that 2023 was the most profitable year in Slate’s 27 year history. Revenue at the veteran digital media business grew 28% year-on-year and management says that, by focusing on its podcasts and website, Slate was able weather an ‘otherwise dark media business climate and continue to grow’. Good to know.


More from Media Voices

 

Futureproofing local news: special podcast series

In the third episode, we speak to some local news organisations about getting company culture to the best possible place.

 

Inflation increases pressure on newsprint, but magazines still find niches

Economic turmoil has accelerated print decline, but magazines are eyeing shorter runs and reduced frequency as an opportunity to cash in on scarcity.

 

How Apple News can support publisher data strategies

There are clear pathways for publishers to funnel readers to their own properties and support data strategies using Apple News.

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