It was not too long ago that Bo Sacks, a veteran of the publishing industry since 1970, opined that “I think this is the new golden age of publishing.”
Two recent studies released this year—by the Reuters Institute and Digiday—reflect a similar positive sentiment.
“There is greater confidence now that good journalism can continue to flourish in a digital age,” says Nic Newman, author of the Journalism, Media, and Technology Trends and Predictions 2020, an annual report published by the Reuters Institute for the Study of Journalism, based on a survey of 230 CEOs, editors and digital leaders from 32 different countries.
According to the report, almost three-quarters of respondents (73%) say they feel confident or very confident about their company’s prospects in 2020. It reflects optimism amongst many publishers that reader revenue and diversification strategies are starting to pay off.
“The overwhelming mood from this year’s survey is one of quiet determination not to be distracted by the latest innovations but to focus on delivering long-term value for audiences,” says the report’s author, Nic Newman.
In another research conducted by Digiday, 64% of 200 publishing executives surveyed reported that they are happy at their jobs. Among men, the happiness quotient is even higher, going up to 70%.
Digiday asked which factors contribute to satisfaction and found that “the work itself” is most important, for 97% of the respondents, followed by compensation, work-life balance, opportunities for advancement and time off.
Interestingly, when it came to weighing business factors that led to people’s satisfaction, publishers’ efforts to diversify revenue figured quite high, just after their employer’s business model and reputation.
To conclude, in the words of Bo Sacks, “the overall, overwhelming consensus is that all is well in our various media communities, and what has been a long lingering fear is now gone.”
We have a fine and honorable future ahead of us, just not quite as we knew it. So what? It is time to get used to it.Bo Sacks, President, Precision Media Group