MikeWorldWide reposted this
The news industry has been facing disruption at an unprecedented rate. To put this into perspective, a recent Pew Research Center Study found that daily newspaper circulation—counting both digital subscriptions and print—has continued to decline, dropping to just under 21 million in 2022. This is an 8% decrease from the previous year and a staggering 32% drop compared to five years ago when circulation was over 30 million. Additionally, more than 7,900 journalism jobs were cut in 2023 across UK, US, and Canadian media outlets, according to Press Gazette. Even today, ABC News and ABC-owned stations laid off 75 employees from its news divisions. While outliers like The New York Times and The Wall Street Journal have found success in transitioning from print to digital, media outlets are now competing fiercely for subscriber dollars. However, one key challenge is that consumers increasingly want to hear directly from company leaders on major news trends, rather than through a paywalled article. At MikeWorldWide, we’ve observed a growing trend: executives are spending more time on LinkedIn to communicate news, company updates, and industry trends directly to stakeholders. It’s why leaders who are leaning into short-form video or audio content on LinkedIn are performing so well, as this type of content often connects more authentically—and in many ways more effectively—than a paywalled story. Consumers want to hear the exact language used by these leaders. This doesn’t diminish the value of news stories—they still provide essential context and help connect the dots for readers—but executives themselves are becoming a more prominent source of news and insights. Leaders like Jamie Dimon of JPMorgan and Satya Nadella of Microsoft have millions of followers on LinkedIn because stakeholders and consumers alike want direct access to their thoughts. LinkedIn's trending news feature also amplifies their commentary, making it easier than ever for audiences to gather leadership perspectives on critical issues. https://lnkd.in/exRUu2FJ Sara Fischer - Axios