WATCH:Media industry during Covid-19
The media industry has traditionally played the key role of informing, educating and entertaining from a local and international point of view. The onset of Covid-19 has once again put the spotlight on the critical role that this industry plays in facilitating the dissemination of information. The media has become a melting pot for consumers and service providers as well as the government and the general public.
What role has the media played during Covid-19?
- Effective health communication for the adoption of sustainable preventive measures and curtailing misinformation.
- Public health communication to increase psychological resources and resilience in distinct age groups and socio-economic conditions.
- Communicating effective strategies to help individuals and corporates in dealing with social and physical distancing.
- Reduction of stigma, prejudice, discrimination, and inequalities.
What has also emerged during the Covid-19 pandemic and subsequent lockdown are the changes in audience and consumer behaviour across the media landscape. Consumers are making significant changes to their lifestyles and the way they interact with content and advertising across platforms.
Which media consumption trends have emerged during Covid-19?
- Television is in for some significant growth. Moreover, with the lack of live sport on TV and people looking for an escape from reality, entertainment viewing has emerged as the next best thing.
- There is an increase in streaming viewing and growth in platforms such as Showmax and Netflix.
- Radio listenership in cars will decrease as people work from home. But radio listening will be used to catch up on news and information – growth is predicted particularly for SABC local language platforms.
- Twitter is being increasingly used as a news source, while Facebook and Instagram are being used as ways of staying in touch with friends and family without seeing them in person.
- Print is expected to suffer. Fewer people in the shops mean that there are fewer people around to buy newspapers and magazines – another blow for the already beleaguered medium.
- There is a definite increase in the uptake of online information and shopping for goods.
With such a drastic change in consumer behaviour and consumption habits, it is expected that online search advertising will benefit as more people turn to the web to access information and look for where to buy their goods online. This gives media players who include advertisers an opportunity to target relevant keywords to ensure visibility in this virtual shop window. Business and media research shows that companies who adapt to online delivery of information and trading will reap great returns and continue to thrive in this uncertain time.
The current media and publishing dynamics are well summed up by Marc du Plessis who is Head of Digital Media, Caxton Media.
“For us its been a sad week – we have just announced the closure of our Caxton magazine division, that’s something the industry has been facing for a period of time. The magazine business has been under a lot of pressure, and it’s come from lack of advertising but also circulation has been decreasing. But in our other business, which is local newspaper business, we are positive, we still believe local media will thrive as we move through this time and we have been focused on doing local news the best way we can” Says Marc.
“We believe people are looking for unique local content and we built our business around that, whether it’s newspaper or digitally, and it has been delivered free, but in the digital world we do struggle with monetisation models be in in video or text, or audio for that matter.”
Du Plessis adds that during the lockdown, the publishers have increased their focus on gathering user data to further deepen their understanding of consumers, their interests and their habits.
“It’s important for us to bring value back to the reader but there also needs to be value exchange, we need to pay our writers for content; journalists aren’t free, we need to pay salaries for our writers to give us good content. If we don’t ask you for money to read our content and for us to pay our staff, then we will ask you to tell us who you are and that’s what advertisers are looking for. That’s what we want to focus on.” Concludes Marc.
For media industry players and consumers, the changing dynamics will become even more intriguing with the passage of time.
