Aside from the main stage, we held a series of more focused breakout sessions on specific topics ranging from responsible AI experimentation to best practices in advertising during a privacy-first era. You can find our key takeaways from each session below, quick linked here:
- Deploying AI experiments responsibly within news publishing
- Unlocking growth through diversity
- Why knowing your audience is so important
- Ads best practice in a privacy-first era
- How to find and measure the metrics that matter
- State of the industry - What we can learn from leading industry research
- Taking practical actions against misinformation
Deploying AI experiments responsibly within news publishing
Our speakers discussed how they have designed and deployed AI experiments within their news organisations, the key impacts of those experiments, and what lessons were learned in terms of best practice.
Dimitar Mitkov (Senior Project Manager at Economedia/Capital) - Enhancing article summarisation
Capital focused on developing article summaries using AI. The team developed prompts for different language models, with a specific focus on Bulgarian and English languages. They worked transparently and closely with the newsroom throughout the project, creating rules and specifications for the summaries and fine-tuned prompts, testing them against a dataset of human-written, newsroom-produced summaries. Throughout the project, the team learnt that Bulgarian prompts outperformed English ones, highlighting the importance of native language processing in AI applications. The integration of high-performing models into the content management system allowed journalists to select the best model for their specific needs, making summarisation more efficient and accurate.
Nadia Kohler (Head of Product Management Content Development & Lead AI Lab at Tamedia-Tages-Anzeiger) - Implementing the user needs model
Nadia shared how Tamedia aimed to better understand the patterns behind their highest-performing articles, and how to ensure they can produce the right content for the right audience segments. To do this, they worked with SmartOcto to implement a user needs model in the newsroom. They tagged 5,000 articles and compared AI-generated labels with those generated by humans. By successfully integrating AI into the content categorisation process, they improved the ability to meet user needs and enhance content relevance. Nadia emphasised that a key challenge is embedding AI tools into the day-to-day culture of the newsroom and ensuring that journalists comprehend the role of AI in their work.
José Gutierrez Cuellar (Chief Solutions Digital & Technology Officer at Prisa / El Pais) - How Prisa aim to be the best media company using AI
To achieve their goal of being the best media company to use AI, José shared how Prisa organised their thinking into four main buckets:
- Empower journalists with AI tools
- Ensure AI use-cases are adding value to their products, this could be through summaries, translations, and so on
- Ensure AI implementation is future-proof: understanding that the way we work will change over the next ten years, and ensure implementation of AI has the flexibility to change, as the ways of working do
- Partnerships - Prisa have signed multiple deals globally with partners, one of which is with OpenAI
Jose discussed how Prisa developed tools to address the challenge of misinformation, including an AI-driven tool for detecting deepfakes in audio files. Additionally, the company explored new avenues in content creation by developing a synthetic voice tool that replicates a journalist’s voice, aiming to boost consumer engagement. Jose emphasised the importance of maintaining trust while experimenting with AI technologies, ensuring that quality and credibility remain at the forefront of their efforts.
News in the Digital Age 2024 hosted by FT Strategies and the Google News Initiative
“Don't lose sight of those underlying capabilities and definitely take a step back and realise the importance of understanding the AI landscape before you jump in”
- Sam Gould, AI Lead, FT Strategies
“Being transparent is a must, to let people know they will engage with content created by [AI] is really important”
- José Gutierrez Cuellar (Chief Solutions Digital & Technology Officer at Prisa / El Pais)
Unlocking growth through diversity
Audience diversity is increasingly a key element in publishers’ growth strategies. News sites worldwide are casting around for new sources of growth as they are squeezed between mounting costs and dwindling revenues. Reaching under-served audiences is vital, but what is the most effective way to attract them and draw them down the conversion funnel? Our panel discussed the lessons they have learned from implementing a North Star goal for audience diversity and their progress towards better reaching underrepresented audiences.
- David Dinis (Executive Director at Expresso)
- Julia Harris (Head of Memberships at Daily Maverick)
- Estefanía Nicolás Recarte (Reader Revenue Strategy & Marketing Director at Diario de Navarra)
- Fernando Hernández Morando (Deputy Editor-in-Chief at Diario de Navarra)
- Shirin Shity (Digital Marketing Analyst at Project Syndicate)
The importance of reaching beyond core audiences
Publishers must look beyond their core audiences to secure their future. Audience diversification fulfils the mission of serving a diverse society and offers commercial benefits. Expanding reach to include younger and more diverse groups is crucial for sustainability, particularly as traditional revenue models face disruption.
Meeting younger audiences where they are
The discussion highlighted the importance of identifying and leveraging the platforms and channels that younger audiences frequent, such as social media sites. By creating content tailored to these platforms, whether through video, social media posts, or interactive features, publishers can maintain the integrity of their core content while extending its reach. This approach aligns with the consumption habits of younger audiences and gradually nurtures their journey from casual engagement to deeper involvement with your offerings.
Empowering young teams to drive innovation and engagement
Successful audience diversification requires empowering teams from all areas of the organisation, especially younger members, to lead initiatives. Organisations can tap into new ideas and perspectives by giving them autonomy to create content that resonates with their peers. The experiences shared by the panel demonstrated that when teams are empowered, they can drive significant growth and engagement among younger audiences, even with limited resources.
The role of data and experimentation in audience strategy
Analysing the right data and embedding a culture of experimentation are vital in developing effective audience diversification strategies. Understanding audience behaviour through robust data collection allows for more targeted content creation and better engagement. Experimentation, guided by clear failure criteria, enables organisations to test assumptions and refine their strategies based on what works, ensuring that resources are invested in the most impactful initiatives.
News in the Digital Age 2024 hosted by FT Strategies and the Google News Initiative
“Start with a really [strong] foundation, and the data that will inform your strategy”
- Shirin Shity (Digital Marketing Analyst at Project Syndicate)
“Everyone in the company was involved in sessions where we spoke about audience diversity… diversity is a difficult topic, and there were some really hard conversations that had to be had.”
- Julia Harris (Head of Memberships at Daily Maverick)
With the wealth of information we have at our fingertips now, publishers have the opportunity to understand so much more about their audience, and make data-led business decisions based on that knowledge. In this discussion, we heard from leading European news practitioners who have established subscription models at their publications. We explored the drivers of recurring reader revenue and how this is enabled through detailed knowledge of their paying customers.
- Koen Meeusen (B2C Director Sales & Care at Het Nieuwsblad)
- Rudolf Gruner (Director of Digital Business at Economedia)
- Peter Nagy (Head of Marketing at Petit Press)
- Maria Toycheva General Director at Observador)
Data-driven decision making
Data-driven decision-making emerged as a crucial theme throughout this discussion, with speakers emphasising the use of customised metrics and dashboards to track and enhance audience engagement. By focusing on specific metrics, such as time spent on articles and conversion rates, media organisations refined their content strategies and subscription models. This approach allowed them to make informed decisions that aligned with their business goals.
Audience engagement
Audience engagement, with a strong emphasis on understanding and improving how readers interact with content, was another central theme in this discussion. Organisations shared their experience in developing unique engagement metrics tailored to their specific contexts, which helped to identify what resonates most with their audiences. By involving journalists in the process through personalised dashboards and regular feedback, they were able to foster a culture of continuous improvement in content creation and delivery.
Experimentation and innovation
Experimentation and innovation were highlighted as key derives of success, with media organisations embracing a mindset of continuous testing and learning. Through targeted experiments, such as adjusting paywall models or involving younger employees in social media strategies, they were able to discover new ways to increase subscriptions and engagement. This iterative approach allowed them to adapt quickly to changing market conditions and audience preferences, ensuring that their strategies remained relevant and effective.
Customer-centric approach
A customer-centric approach was emphasised as essential for long-term success. Organisations stressed the importance of listening to their customers and using insights from research to inform product development and pricing strategies. By responding to customer needs, either by offering access to multiple brands, enhancing content offerings, or adjusting pricing models, they were able to build stronger relationships with their audiences. This focus on understanding and addressing customer preferences improved satisfaction and contributed to higher retention and revenue growth.
“Listening to the customer is also very beneficial for your revenue”
This panel gave an inside perspective on the various strategies publishers are adopting to embrace ads in a privacy-first era, including:
- What’s changing about the advertising space
- Strategies being used by news publishers to grow their ad business and real-life examples of these strategies / how they are being executed
- What longer-term changes are on the horizon, and what their impact might be?
Alessandro De Zanche (Founder, ADZ Strategies) - The strategic use of first-party data
Alessandro emphasised that first-party data is a crucial asset for publishers, not just as a replacement for third-party cookies but as a foundation for a broader strategy that prioritises audience-centricity and long-term sustainability. He advocated for a more strategic, collaborative approach among publishers to create exclusivity in the ads marketplace. The panel discussed the practicality of removing your organisation from the open marketplace, including the reluctance of ad buyers to buy directly from publishers.
Katie Le Ruez (Director of Digital at The Guardian) - The challenges and opportunities of consent or pay models
Katie discussed the importance of putting the audience first, standing by the premium nature of The Guardian’s website as a tactic to increase audience retention. She stressed the importance of delivering a great user experience especially during the context of wider technological changes, where users may discover the site less frequently.
Katie also discussed the growing and understandable trend of consent or pay models, where users are given the choice to either accept cookies or pay to access content. She explained that while this model can help drive up consent rates and monetisation in the short-term, it presents long-term challenges, especially in maintaining user trust and navigating privacy regulations and concerns. Also noting that advertisers have only shown interest in The Guardian's consented audience, rather than rearching 100% of the audience (including non-consented audience).
On a more optimistic note, Katie mentioned the Index Exchange announcement stating they will not connect to “made for advertisers” websites, and that advertisers are trying to find better inventory, albeit there are still difficulties in brands deeming content “unsafe”. Making the point of balancing direct sales and new advertising strategies, and programmatic advertising to sell additional inventory.
Danny Spears (Chief Operating Officer at Ozone) - The importance of integrated monetisation strategies
Danny highlighted the shift in the industry from viewing advertising and subscriptions as separate, binary strategies to recognising the need for an integrated approach where both work together. He stressed the importance of publishers focusing on strategy, particularly around first-part data, to maintain control and value in an evolving digital landscape.
Danny also discussed how to utilise your first-party data, including to step giving it away for free and having a more advanced review of the assets you have, not only names and email addresses but also device IDs and IP addresses, to better understand who your users are.
News in the Digital Age 2024 hosted by FT Strategies and the Google News Initiative
“Programmatic is a way to capture revenue. It tends to be a poison chalice, you can get short-term revenue up by putting more into the marketplace, but the mid to long-term impact is dilution”
- Danny Spears (Chief Operating Officer at Ozone)
“The very first customer for publishers is the audience, and the second is the advertiser. Sometimes, [it feels like] we have swapped the order.”
- Alessandro De Zanche (Founder, ADZ Strategies)
There is an abundance of data available to us now, but not all metrics help publishers achieve their goals. Our panel examined how news organisations can measure the metrics that matter for their business, focusing on two of the most important levers: churn and lifetime value.
- Emanuele Porfiri (Head of Analytics at FT Strategies)
- Mckinley Hyden (Director of Data Value & Strategy at the Financial Times)
Rationale for developing metrics that matter (MTM)
The need for the metrics that matter framework arose from the limitations of the FT’s initial approach to its North Star goal, of reaching 1 million digital subscribers by 2020. While this target was met ahead of schedule, it became clear that a single metric did not capture all of the departmental contributions required for success, and often felt disconnected from the everyday work of many employees. Additionally, the focus on one overarching goal led to an overwhelming number of sub-metrics, which diluted the focus and made it difficult to prioritise initiatives effectively. MTM was developed to address these issues by creating a more inclusive and actionable framework that could guide the entire organisation towards its broader objectives.
The Metrics That Matter framework
The metrics that matter framework was designed to provide a shared language and focus across FT’s various departments, emphasising the importance of balancing volume and value metrics. The guiding principles for the MTM framework included reducing the over-reliance on the North Star goal to ensure all departments are aligned yet able to focus on their specific objectives, mirroring a simplified customer lifecycle, putting more focus on retention, as we know this is the most fruitful way to spend our time and resources, and finally ensuring gains are balanced with their costs. The framework was developed collaboratively with input from different stakeholders to ensure its relevance and practicality across the organisation.
Future directions and implementation
The FT plans to continue refining the MTM framework by incorporating benchmarks, performance thresholds, and scientific analysis of the metrics. This ongoing evolution will involve creating a comprehensive data catalogue and ensuring the framework remains adaptable to the organisation's changing needs. The ultimate goal is to make the MTM framework a living, breathing tool that supports the FT’s current objectives and drives its future growth and success.
News in the Digital Age 2024 hosted by FT Strategies and the Google News Initiative
“Sometimes in an organisation that has so many great minds and a lot of enthusiasm and great ideas, the enthusiasm runs away with us, and having these frameworks enabled us to better describe the outcome that we were hoping to achieve.”
- Mckinley Hyden (Director of Data Value & Strategy at the Financial Times)
“I want to make it really clear that this was not a case of just a couple of industrious data people just locking some stuff together. This was quite a big undertaking that involved people from quite a few different departments”
- Mckinley Hyden (Director of Data Value & Strategy at the Financial Times)
State of the industry - What we can learn from leading industry research
Arun Venkataraman, Global Research Lead at Google News Initiative, highlighted the evolving landscape of news consumption, emphasising the growing influence of social media, the need for news organisations to adapt to emerging preferences, and the levers of financial sustainability.
How are news consumers' behaviours and preferences changing, and what does that mean for news value propositions?
News consumption patterns are rapidly evolving, with younger audiences increasingly turning to social media as their primary news source rather than visiting traditional news websites directly. This shift challenges the traditional news value proposition as it becomes more difficult for established news brands to maintain visibility and build direct consumer relationships. Younger news consumers are also seeking content that resonates emotionally, prioritising news that makes them feel connected, positive, and inspired rather than just staying informed about major events. News organisations must adapt to remain relevant by offering more personalised and engaging content that meets these emerging preferences.
What are the drivers of digital sustainability, and are there emerging models of success?
Digital sustainability hinges on several key factors, including the ability to build strong direct relationships with audiences, diversify revenue streams, and adapt to the changing media landscape. Large, established news organisations often fare better in the digital transition, leveraging their resources to enhance digital subscriptions revenue and product growth. In contrast, smaller and local publishers, particularly in the Global South, face greater challenges in achieving digital sustainability. However, emerging models of success are evident in digital-native news organisations that prioritise community engagement and focus on underserved topics, demonstrating that innovation and adaptability are crucial for long-term sustainability in the news ecosystem.
News in the Digital Age 2024 hosted by FT Strategies and the Google News Initiative
What is the role technology can play to help publishers meet the needs of consumers?
Technology plays a pivotal role in helping publishings meet the evolving needs of consumers by enabling more personalised, accessible, and engaging content experiences. Artificial Intelligence (AI) offers promising applications, such as providing contextualised summaries, customising language complexity, and enhancing interactive experiences through conversational bots. These technological innovations can help news organisations cater to the diverse preferences of their audiences, particularly younger consumers who demand content that is easy to understand, actionable, and relevant to their lives. Additionally, technology can support against misinformation, ensuring that trusted news organisations can stand out in an increasingly crowded and noisy information ecosystem.
“Sustainability begins fundamentally with a differentiated product that meets the information needs of communities you serve.” - Arun Venkataraman, Global Research Lead at Google News Initiative
Mis- and disinformation confuses audiences, amplifies content from vested interests, misrepresents scientific data and evidence, and erodes trust in news. Our panel discussed cutting-edge strategies and actions that news organisations leverage to combat untruths and manipulated information to ensure audiences can trust journalism.
- Laura Ellis (Head of Technology Forecasting at the BBC)
- Benjamin Sabbah (Journalism Trust Director at Reporters Without Borders (RSF)
- Jennie King (Director of Climate Disinformation Research and Policy at ISD)
News in the Digital Age 2024 hosted by FT Strategies and the Google News Initiative
The impact of misinformation on news publishers
Misinformation has a profound impact on news publishers, particularly in how it erodes public trust, which is essential for our business models. With a growing segment of the audience increasingly sceptical of mainstream media, publishers face challenges in retaining and growing their subscriber bases. If audiences do not believe in the credibility of the content being produced, it becomes nearly impossible to maintain the level of engagement and trust required to sustain revenue streams, whether through subscriptions or advertising. This breakdown in trust makes it difficult for news publishers to fulfil their role in society and maintain their financial viability.
Distrust in media and the proliferation of misinformation
The proliferation of misinformation has led to a significant rise in public mistrust of the media. As fake information becomes more widespread, often amplified by social media and AI-generated content, audiences are finding it increasingly difficult to distinguish between credible news and misinformation. Jennie shared how this is being exasperated by viable business models based on creating and distributing misinformation, supported by advertisers who do not realise they are appearing next to misinformation, and the growing revenue streams of merchandising and speaking circuits. This pervasive mistrust is not only directed at dubious online sources but has also seeped into perceptions of established news outlets, undermining their authority and credibility. The challenge for the media now is to navigate an environment where even accurate reporting is questioned, contributing to a broader erosion of trust in societal institutions.
Efforts to combat misinformation
To combat the growing threat of misinformation, various initiatives have been launched by media organisations and advocacy groups. The BBC, for example, has implemented technology-based inventions, including deepfake detection and media literacy programs, to secure its content and educate audiences. Reporters Without Borders has introduced the Journalism Trust Institute, which provides a set of standards for news outlets to self-evaluate and demonstrate their commitment to quality journalism. These efforts aim to restore trust by ensuring transparency, improving content certification, and fostering media literacy, though the challenge remains immense as misinformation continues to evolve in complexity and reach.
At FT Strategies, we work with news and media organisations globally, helping them address strategic challenges, drive sustainable growth and innovate using AI, technology and data. If you would like to chat about any of these topics with our expert consultants, please get in touch.