The media trends that will define 2023, in 5 charts
Buckle up, 2023 is going to be a hell of a ride
To start the year, I produced some analysis for Team WNiP (What’s New In Publishing) exploring key issues faced by the media industry in the year ahead. Despite facing a number of structural and cyclical challenges, I contend the industry may be more resilient than you might think.
As we kick off the New Year, many publishers are contending with the need to tackle a heady mix of long-term structural issues and more short-term considerations.
Combined, it means that the media industry is facing a number of significant challenges in 2023. This includes ongoing changes in advertising markets, pressure on consumer spending due to inflation and the cost of living crisis, as well as evolving media habits and preferences.
In responding to this, many publishers will be seeking to do more with less in 2023 — the byproduct of the lay-offs seen at many outlets in late 2022 — as well as contending with other issues such as rising print costs.
Here are five charts demonstrating some of the biggest challenges being faced by media and publishing companies today; as well as some thoughts on how to address them.
