This week saw the first print newspaper fold after just nine weeks. Justin Taylor, UK MD at Teads looks at the lessons for the media industry.
New Day’s tagline began ‘life is short..’, and, unfortunately, so it has proved for the UK’s first print daily newspaper for 15 years. It struggled to reach even a fifth of its target circulation and that’s simply not enough to generate the advertising revenue required to sustain quality journalism.
Not launching a dedicated website online was a big statement to the industry. Focusing on Facebook for digital distribution was a brave step, but ultimately misguided.
This latest print closure shows that people are reading most of their news digitally and increasingly mobile first. Advertisers are starting to follow – brands recognise that they can be far more creative and targeted online, for example, tailoring the ad message to an individual consumer.
Effectively monetising those online audiences is now the number one priority for publishers. They need to find a way to deliver online advertising that works for brands, without alienating their readers.
The rise of ad blockers suggests they’ve not yet got the balance right: consumers have reacted against intrusive forms of online advertising that get in the way of their experience. It’s absolutely critical that publishers focus on online ad formats that engage, rather than enrage consumers.
By Justin Taylor
UK MD
Teads