Media Technology and Journalism in 2023: The Changes We Expect to See In Media and Technology
This year will see increased worries about the viability of some news outlets due to high inflation and severe restrictions on consumer spending. For many common people, the invasion of Ukraine by Russia, the worsening impacts of climate change, and the COVID pandemic’s aftermath have all caused anxiety and worry.
Journalism has frequently flourished in similar circumstances, but many people continue to be turned off by the dismal and unrelenting character of the news agenda.
The metaverse is not the subject of the next phase of technological innovation, which has already arrived. In 2022, extraordinary developments in artificial intelligence (AI) have revealed new opportunities and difficulties for journalists. To aid with channel fragmentation and information overload, AI offers publishers the chance to (eventually) deliver more personalized content and formats.
How quickly we implement digital technology over the coming years won’t matter as much as how we adapt our digital content to swiftly shifting audience expectations.
Developments We Expect in 2023
- This year, more newspapers will cease daily print production as a result of growing printing costs and deteriorating delivery systems.
- As consumers suffer from news fatigue and face competition from streamers, TV and broadcast news will be on the frontline of journalistic layoffs. There will be an increase in open discussion on the possibility of discontinuing linear TV broadcasts.
- The building elements of the metaverse, smart glasses, and VR headsets, will continue to draw attention, particularly with Apple releasing its first headset. The creation of “legs” for Facebook’s metaverse has cost billions of dollars and eight years. The introduction of these positive avatars this year won’t appease internal or external criticism or increase the concept’s applicability to journalism.
Inflation and Uncertainty in Journalism
Few foresaw Vladimir Putin’s invasion of Ukraine at this time last year, which led to an oil crisis and rapidly rising inflation in many nations. All of this has made us realize the importance of professional analysis and on-the-ground reporting during difficult times, but it has also made the financing of such journalism more vulnerable.
At the same time that people cut back on spending and publishers deal with mounting costs on numerous fronts, advertisers are stepping back. People who still use print extensively have been particularly hard impacted, with the price of paper sometimes doubling. This perfect storm resulted in several layoffs, expenditure freezes, and other cost-cutting measures at the end of 2022.
Companies born online are not exempt. While Morning Brew is laying off 14% of its personnel, BuzzFeed is laying off another 180 people. Falling traffic from major social networks like Twitter and Facebook (Meta), both of which are moving in new directions, has made matters worse, particularly for businesses that have grown dependent on social media marketing.
Digital Subscriptions
According to the general agreement, this year’s emphasis will be placed more on keeping current subscribers than on acquiring new ones. Those that have been operating subscription businesses for some time have a solid foundation on which to expand and believe they can maintain some growth through promotional price offers or by combining more premium content, including newsletters and events.
Price Cuts and Special Offers
Many publishers who want to retain the new subscribers they acquired as a result of the Ukraine war and COVID-19 will put a lot of emphasis on this. Renegotiating with customer service departments might result in discounts of 50% or more, while new customers are given stupendous savings. The LA Times, Chicago Tribune, and Boston Globe each provide six months of digital access for $1 at the end of the year, while the Washington Post offered a deal that was 75% off its premium pricing plus a complimentary subscription for a friend.
Another strategy used by several European publishers is longer trial periods. All publishers aiming to increase their subscription numbers will continually be motivated to (also) compete on price because of the extraordinarily cheap marginal distribution costs online.
Conclusion
In the next decade, the impact of technology on journalism is expected to be even more pronounced. By 2023, the landscape of journalism will have been transformed by the integration of new technologies such as artificial intelligence (AI), virtual reality (VR), and the Internet of Things (IoT).
This will allow journalists to quickly identify trends and stories of interest, as well as provide them with a better understanding of their audience. AI-powered tools will also be used to automate the process of researching, verifying, and fact-checking stories, freeing up journalists to focus more on the creation of compelling content.
Journalists will be able to create immersive experiences that allow viewers to experience news events as if they were there. This could be especially useful for war correspondents and other reporters in dangerous environments.
These involve some but majorly profound changes that the media will have to embrace with the advent of AI and VR along with incorporating the changing dynamics of our society today.
