As shown, AI-driven tasks like back-end automation (tagging and copyediting), distribution and recommendations drastically surpassed other AI applications in newsrooms.
The opportunity
When combining these elements with AI, news outlets can significantly improve the reach and impact of their stories. That is why smartocto.ai was developed: to be the artificially intelligent virtual assistant newsrooms need to work more efficiently.
Top Tip
Have a 20-minute coffee chat with one of our team members. They’ll bring you up to speed on the latest AI tools you can utilise and help you start future proofing your newsroom.
Revenue Challenges in the Digital Age
Revenue generation remains a significant hurdle for news outlets. For decades, print advertising and subscriptions were the primary sources of income. However, digital advertising has not yet compensated for the decline in print advertising revenue. Subscription models offer another source of income, but they also present challenges in convincing audiences to pay for news.
The opportunity
According to a study conducted by Columbia Journalism Review on building revenue in the news industry, there are various strategies to maximise revenue in a newsroom, depending on the type of newsroom you operate:
- Are you a niche news site? Subscriptions are the way to go. A subscription model can be particularly effective for publications targeting strong institutional audiences in niche industries, especially when the cost of industry-relevant media can be covered by the subscribers' employers, according to CJR.
- Refrain from relying on a single revenue stream. Digitally native publications like MinnPost, VTDigger, and Berkeleyside use various revenue streams, including advertising, corporate underwriting, foundation funding, article syndication, direct audience revenue, and more.
Top Tip
Understanding what captivates your audience is crucial for growth. Learn more about how our tool can help increase your subscriptions by 39%.
Quality journalism is here to stay
One of the evident tensions in newsrooms in recent years has been the relationship between editorial work and technological development. At smartocto, our goal is not to alter how journalists work, rather to ensure that quality journalism is maintained and supported in today’s challenging age. Our mission is to provide you with the tools needed to ensure your newsroom's success, making your stories more strategic and profitable.