2023 Media Predictions & Top 10 Stories of 2022
In 2022, public relations professionals found themselves dealing with a unique problem: navigating a media environment disrupted by the pandemic, not to mention the increasing shift of consumers getting their news from print, TV, and radio to online sources.
With it came more layoffs in the newspaper industry, forcing many highly regarded journalists out of jobs and newsrooms continuing the practice of replacing highly regarded beat reporters with general assignment reporters.
This was also the year that Americans got to see a war play out on phone, labeling the situation in Ukraine “the TikTok war,” and Elon Musk, in a bid to protect free speech, acquire Twitter.
Below are the Bliss Team’s 2023 media predictions, along with the top 10 stories that shaped 2022.
- Increasing emphasis on local news: In 2022, we saw Axios expand into a number of cities with daily newsletters. They now are in 24 markets with millions of subscribers. Other media giants may make this play in a reversal of the trend of shrinking local news resources.
- Reporters covering wider beats: This quarter we have seen several outlets begin layoffs including CNN, BuzzFeed and Gannett. With less reporters in the newsroom, expect reporters to be covering wider beats, turning out more content and being more pressed for time.
- Continued media acquisitions and consolidation: We expect mergers and acquisitions of outlets to continue as monetization efforts via subscription models continue to face challenges.
- The economic climate will remain top of mind: With inflation high and a looming recession, it will be harder to pitch a story that doesn’t tie back to the context of the current economic pressures.
- A potential IPO boom: In 2022, IPO activity nearly came to a halt given market volatility. According to Nasdaq’s CEO, around 200 companies are currently waiting to go public, however that is still under the 250-300 range of the past few years. Read more from Reuters.
- Regulation of social media and mental health effects: We see states and legislators beyond California passing laws limiting the harmful mental health implications of social media.
- A growing alternative media presence: Writers, politicians and business leaders are opting to promote their content through podcasts and subscription-based platforms like Substack. It’s now becoming an opportunity for B2B companies. Read more from Axios
- Pull back from Twitter: Many advertisers have pulled back from Twitter as the company undergoes mass change at Elon Musk’s new ownership. With Musk continuing to make bold moves, such as banning journalists, we expect additional companies to reconsider how they engage with the platform.
- Podcasts will continue to grow in popularity: With over 2 million podcasts available globally, the number of listeners is expected to increase from 383.7 million to over 500 million by (Source: Demandsage.com)
Top 10 Stories of 2022
- War in Ukraine
- Musk buys Twitter
- Robb Elementary Shooting in Uvalde
- Roe v. Wade Overturned
- Queen Elizabeth Dies
- Liz Truss and Boris Johnson Resign as Prime Minsters
- Inflation Surges
- FTX Crash
- 2022 Election: Republicans Retake the House
- TSA Ends Mask Mandates
By The Bliss Media Team
Photo by Pexels