The last two years have been turbulent and uncertain, and as such consumers have been glued to the news and their feeds for the latest updates.
Overall media consumption has grown 20.2% in the last decade, with the U.S. adults clocking an average 666 minutes per day, or 11.1 hours, consuming media in 2021, per Recode. As we head into a year of Midterm elections and potentially new virus variants, expect these behaviors to continue as consumers aim to keep themselves informed.
“Unlocking the power of first-party data for good,” says Michael Ribero, chief subscriptions officer at The Washington Post. “So much of the recent news is how Facebook used personalization as a negative society. At The Post we are using data to be more effective marketers but thinking about unlocking this power to help readers understand topics more in depth and from divergent perspectives. Our hope is we can move beyond headlines and echo chambers to understanding.”
Mobile devices have been a catalyst to helping media brands increase exposure and connections with consumers. Mobile media consumption has grown 460% in the last 10 years, from an average of 45 minutes to 252 minutes a day, and even more among Millennials and Gen Z consumers, per Recode.
“With the rise of new and emerging technology, marketers will need to fundamentally rethink their operating models, go-to-market strategies and metrics of success to maintain their position as advisors to the C-suite,” says Chris Marino, global head of performance marketing & media at Bloomberg News.
Magazines have continually adapted to digital space in order to stay relevant. In today’s terms that means working with brands to develop co-branded and curated shopping experiences.
“Last year, the marketplace saw 10 years of ecommerce growth in just eight weeks due to COVID,” says Deirdre Findlay, chief marketing officer at Conde Nast. “As we look to 2022, I predict commerce trends — especially social commerce — will continue to accelerate, even as people spend more time outside of their homes and return to the office. We expect to see our brands from Wired, Vogue, GQ, Glamour, Allure and more continue to help consumers discover products that they love.”
As media brands look to monetize content and engage audiences, there will also be more experimentation. This can show up in partnerships with micro-influencers and new distribution channels.
“Micro-influencers and creators with sky-high engagement will continue to disrupt traditional distribution channels, illuminate conversion opportunities and shorten the distance between the tastemaker and end consumer,” says Jen Hayes Lee, head of marketing at The Bump, The Knot Worldwide.
