Quintype hosted a ‘Digital Media Predictions 2022’ webinar with Raghav Bahl, Co-Founder, Quint Digital Media and Chirdeep Shetty, CEO, Quintype Technologies, who acted as moderator on January 25, 2022.
With the pandemic market prompting consumers for a shift in content consumption, a significant increase in digital demand has been observed. Keeping this digital shift in mind, news publishers are embracing the new, building reformed revenue models and organizing new distribution channels.
During the webinar, Bahl broke down these predicted trends and shared information on new content formats, innovative monetization models and more…
The robust digital market
Kicking off the discussion, Bahl said, “With the shutdown of conventional media at the start of the pandemic, people turned to other forms of consumption and as a result, digital came into its own during this time.” .
“The loss of revenue for traditional news media lasted for the first three to four months at the start of the pandemic, until they found their footing on digital. When the world didn’t seem about to collapse, things were different. Once content and operations were established from a publisher’s abode, advertising revenue also began to increase,” he explained.
Advertising revenue and rates
Bahl said digital is a two-way communication channel with the consumer, and cross-platform and multi-distribution support. However, he felt that we tell our stories in different mediums, which also allows advertisers to have different avenues.”
“With this multi-faceted approach, CPM (cost per thousand) is only part of the advertising solution that publishers offer to a client at the moment. We now present to advertisers based on how we can responding to multiple formats and CPM or ad rates has become a small part of the conversation,” he continued.
Bahl said advertising is currently based on branded content on different platforms with different context for various audiences.
Use different types of media
Bahl warned publishers not to invest all of their expenses and content in one medium. “For me, the most important trend in 2022 is that you can’t bet on just one slice of media. We have to take full advantage of the different content formats. When publishing an interview, I can decide to publish a podcast, video or cut it into small Instagram Reel videos. after a linear or hybrid depends on the business model you want. In my experience, digital is a cross-platform medium. If we have the resources to be present on different media sources and platforms, then we must seize the opportunity,” he added.
Short format videos
Bahl then talked about the emergence of short-form video and the apps that have been created for the same.
“Audiences are consuming short format videos and it is the fastest growing segment in the media world. Multi-format consumption would see YouTube video get 8,000-10,000 views, while reels (Instagram ) could garner up to 40,000 views in a minute or less. Similarly, Twitter is a universe unto itself and is somewhere in between with an engaged audience. Content needs to be everywhere with different versions.
The newsletter trend
Bahl’s next topic was newsletters.
He advised: “Where there are specialized newsletters that address a specific need or interest of the reader, by receiving curated content in the newsletter, the level of engagement will increase. Newsletters will need to turn into an outlet of very specific interest that caters to different people. If a publisher takes the time to map the reader’s interest, their consumption habits, the newsletter can be modified accordingly.”
Bahl said that in order to captivate audiences with specialized content, the journalist publishing content will require a level of intellectual brand recognition and following, getting good traffic to their posts.
“Once intellectual brand recognition is established, a journalist can choose not to be a full-time employee. With the ability to reach audiences directly, they will be able to earn specialist articles, books and speaking engagements,” said Bahl. .
Bahl then talked about the paywall.
He said: “Distribution is inversely proportional to the publisher’s ability to monetize the subscription. If the content is to be distributed on every platform imaginable, the ability to make it a paid platform is reduced. Some calls were to be taken based on content and revenue strategy. So far, I don’t think we’ve seen that future of a paywall. We’re all still learning, and the jury is out still not elected.It is also about brand power as The New York Times Where The Economist, which has an immaculate journalistic coverage of over 100 years. This brand power will attract consumers.”
However, Bahl added that a paywall needs to be considered and cannot be added to all platforms.
“For new and upcoming properties like The quintet, challenges will have to be faced when it comes to a paywall. This niche of The Quint which is mostly made up of young students, won’t be able to pay and going on a paywall will be a blunder,” he said.
Bahl ended the discussion by discussing the much talked about metaverse.
He said: “If sustained consumption with immersive 3D glasses takes shape, and if it’s an enjoyable experience for the consumer, much of the content consumption will shift to the metaverse. The jury is out on how it’s going to be easy. Often, consumer behavior matters most. In theory, technological progress may look good. But if it’s not comfortable for the consumer, it won’t take center stage.