09/14/2017 | Press release | Distributed by Public on 09/14/2017 03:20
'Reality check - making money with Facebook,' a new report published by WAN-IFRA today, challenges news publishers to not only rethink their revenue and relationship strategies with Facebook but also that of all platforms.
This past spring, the World Association of Newspapers and News Publishers (WAN-IFRA) and its World Editors Forum formed an expert, ongoing working group of publishers from all over the world to address the critical issues presented by platforms that impact news media. This report focuses solely on the monetary issues associated with Facebook, the platform with the most reach.
'This report really drills down to the core of issues surrounding the monetization challenges but also the opportunities of working with a platform like Facebook,' said Vincent Peyrègne, CEO of WAN-IFRA. 'Crucially, it sheds light on the broader issue of business model innovation and dealing with digital disruption, not just from Facebook.'
WAN-IFRA called on industry expert Grzegorz Piechota, who has written about Facebook and platforms on numerous occasions, to write the report. He conducted this research while he was studying digital disruption at Harvard Business School (from this month, he works at the Reuters Institute for the Study of Journalism, University of Oxford).
'Greg has spoken to publishers. He is outspoken and entertaining in his approach,' writes WAN-IFRA Global Advisory Director Nick Tjaardstra in the introduction to the report. 'He has interviewed contrarians like Scott Galloway, but also backs up this report with plenty of useful data points and strategy tools that can be applied in your own business. In short, highly recommended reading.'
Crucially, the report draws some of its findings from a survey of WAN-IFRA's expert group of 150 publishers to gauge their experience and gain their insights on how they are working with Facebook.
Here are some of the report's findings and recommendations:
A number of publishers shared their thoughts and strategies on Facebook, and Piechota presented some key case studies about:
What they say about the report
'I highly recommend every journalist and news executive to dive deep into this report if you are serious about building a solid platform strategy for all the digital disruptors of today and tomorrow. Brace for impact.'
Xavier Van Leeuwe
Director Marketing and Data
NRC Media, Amsterdam
'A great, insightful report I must say.'
Chairul Fahmy, Deputy Digital Editor,
Singapore Press Holdings
The report can be downloaded (www.wan-ifra.org/facebook_report) by WAN-IFRA Members for free (charge for non-members)