5 Key Tips & Takeaways from the recent Future of Media Technology Conference

ITN's Rachel Corp in her keynote speech reflected somewhat anachronistically on the enduring power of simple Vox Pop Video Journalism - which was in evidence everywhere during the events leading up to and during our Queen's passing and funeral.

While this is obviously very much an unprecedented and once-in-a-lifetime event - so I personally am not convinced on the future longevity of the TV News Bulletin - for sure there is still a place for it - but nowadays I feel people are much more likely to reach for social news media - as they want to know what's happening right now within their own social and lifestyle bubbles - while a lot of News TV Bulletins are highly curated, 'polished' and after the facts so to speak - and often not specific enough for the majority of the audience.

Rachel provided some keen insight into independent television news, and the news surrounding the Royal Funeral and related activities. When it comes to independent television news, there is a great deal of shared resource, with only one camera person attending most events but the footage shared equally. When it comes to scoops though, the scooping party is always given precedence and space to break the news stories, e.g. party gate and being inside the Capitol invasion.

What was really interesting was the coverage around the Royal Funeral. It was agreed very broadly in the news community, right across the spectrum that the funeral would in effect act as a promotion for eyewitness news, and television based news in particular. All the television news organisations (at least the UK based ones) got together to agree that it would be a positive news experience, which in effect would act as a promotion for television news.

This is because there is considerable concern that with so much relentless bad news these days (and for some time now in the UK) up to 15% of the audience has completely disconnected from the news and up to 60% of the population avoids news at some point most days.

Overall Rachel was both a great and passionate advocate for independent news and came across very eloquently.

Forbes' Alex Woods focused on how the group's revenues had grown 40% in the past year - partly due to affiliates, but supposedly also due to increased merchandising opportunities with branded products. Juan Delgado CEO of Footballco provided further evidence through that business's success with Mundial branded socks.

A lot of media brands have loyal followings - so branded merchandising can work in a similar ways for them as for a football club - not necessarily to the same extent, but certainly there will be degrees of parity. While the branded goods have to be pertinent to the brand values and context of the media brand in question - you can never just stick your logo on everything and everything - it has to be relevant and salient to what you do!

A key takeaway is also that retail has far tighter margins than news products (subscriptions, ads and memberships), so getting the product mix right is key to earning revenues and can take a fair amount of experimentation.

Reuters' Nic Newman bemoaned the growing 'news-avoidance' of the populace in general - where it used to be that circa 27% of the population avoided all and any new bulletins - while the current figure is around 46% - and particularly prevalent among the younger generations. Who've kind of had their fill of endless doom and gloom and ignorant and amoral politicking.

They are far more concerned with broader cultural and lifestyle issues. In fact I would probably put myself in a similar category. I watch very little direct news any more - where most of my 'news input' tends to come from social commentary.

When times are particularly tough I can tend to avoid all news altogether as the world can seem a very grim place at times - and we the people need to be inspired and uplifted rather than constantly battered and down-trodden! News Media obviously need to switch up to a more hopeful and inspirational news delivery - if they wish to recapture some of that lost audience!

Markus Karlsson (our CEO) is very different and tunes into all forms of current affairs news to get the best feel for upcoming developments, whether they be the continued relative decline of the UK since Brexit, the reversal of fortunes of Putin’s Russia, the high risk of major ecological and climate related events, or the knife edge property markets in China and the USA.