In the digital era, where traditional newspapers have been struggling to stay afloat amidst declining print subscriptions, independent digital news outlets have started taking center stage, according to a news article published by Forbes. These news outlets are believed to have innovative revenue models and a commitment to delivering more personalised content to users. According to a 2023 report by Pew Research Centre, the estimated total U.S. daily newspaper circulation (print and digital combined) was 20.9 million for both weekdays and Sundays, down 8% and 10% respectively from 2021. Meanwhile, independent news outlets like Intercept, ProPublica, and the Daily Beast have reported growth. For instance, thedailybeast.com recorded 53.59 million visits with an average session duration of 05:44. Compared to June traffic, the website has clocked 22.96% growth, as per Semrush, a marketing platform.
Interestingly, unlike the global scenario, where the newspaper industry is dwindling, the phenomenon has yet to catch up in India where print media continues to dominate the market alongside television and digital media. Print newspapers in India have been witnessing a significant surge in revenue, making it the largest global market for the industry. From a little over 200 dallies published in post-independence India, as of 2023, a total of 146,000 newspapers are registered as per a report published by Statista.
Key factors
It is believed that, a key factor in the success of these independent outlets is their ability to diversify revenue streams. They have subscriptions, donations and membership programs to gain revenue. For instance, The Guardian which has been in print since 1821, has multiple digital editions including the US, UK, and Australia and international editions. As per a report published by World Association of News Publishers, The Guardian’s digital version has 81 million monthly visitors globally. As per the report, The Guardian’s reader revenue model is unique. Readers who pay for its journalism are called supporters. The report published in November, 2023 said Guardian has 1.2 million supporters. (Readers who pay for its journalism are called supporters) It is also mentioned in the report that, 1.1 million readers either donate or subscribe to its digital products. And 104,000 readers subscribe to its newspapers and The Guardian weekly magazine.
Moreover, independent digital news outlets have been increasingly embracing technologies and data-driven approaches to enhance their reporting and engage their audiences. Tools such as data analytics, artificial intelligence, and interactive storytelling are becoming instrumental to their strategies, allowing them to deliver more impactful and personalised content.
Road ahead
Despite taking up the center stage, these digital news outlets face a set of challenges. Competition from established players, pressure to maintain financial sustainability and the constant need to adapt to technological changes are believed to be threats for these outlets. However, their focus on niche audiences and innovation with new revenue models seem to position them well for the future.