The article discusses the dire state of the journalism industry, highlighting the impact of big tech, social media, and privacy regulations on publishers. Tanya Field of Novatiq illustrates how publishers struggle to maintain control and profitability amidst growing pressure from ad tech giants and changing consumer expectations. Despite significant layoffs, such as The Washington Post cutting 4% of its workforce, there are signs of resilience in some UK media companies that have managed to increase news revenue. The article questions the future of journalism as it confronts continuous technological and economic challenges.
Publishers feel as though they're losing control of their destinies, struggling just to stay afloat as ad tech giants and walled gardens roll up the lifeboats.
While many are still navigating away from intrusive advertising practices, their journey is complicated by Google's inconsistent stances on tracking cookies and device fingerprinting.
Last year, media layoffs topped 15,000 and The Washington Post cut 4% of its workforce after losing USD$100m.
In contrast, three out of five of the UK's largest media companies grew their news revenue, collectively adding £1.1bn.
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