NewsBeat

Industry survey: Publishers find optimism for 2023 despite cost, revenue and digital challenges of 2022 February 2023 NewsBeat 3 L ast year was a year of ups and downs for publishers who saw increases in digital subscriptions, innovative programs and work flexibility amid rising production costs, distribution challenges and reduced resources. As the year ended, the Alliance for Au- dited Media surveyed publisher clients to learn more about their experiences in 2022 and what they hope to accomplish in the year ahead. Thirty AAM-audited publishers responded. Here's what they had to say. The positives When asked about positive trends in 2022, 67% said they saw an increase in digital subscrip- tions and 40% responded that they saw increased web- site traffic. Innovations in subscrip- tions and advertising were also on the rise. 37% report- ed greater creativity in attracting new read- ers and 33% had more creative offerings for advertisers. The challenges When asked about chal- lenges, 80% of respondents said they experienced rising production costs this year, reflecting a global trend. 63% also saw a decrease in print subscriptions, while 53% experienced distribution challenges. "In 2023, we want to reduce print costs and distribution days without losing sub- scribers." A new way to work When asked if their companies have re- turned to the office at pre-pandemic levels, 82% responded they are either working in a hybrid environment or working remotely most of the time. Revenue sources Looking at 2023, 82% said advertising would continue to be a main source of revenue. 57% thought digital subscriptions would be a main source, while 54% re- sponded that they thought print subscrip- tions would be a leading revenue generator. "Our goal is to increase advertising revenue in an environment that is more challenging than ever to reach decision makers who aren't in office." Areas of focus When asked about the coming year, 89% said digital subscriptions would continue to be an area of focus. 85% responded that they plan to focus on advertising solutions, while 67% will aim for reducing production costs. "Next year, we would like to find new ways to serve advertising clients." In Their Own Words When asked to share one word to describe their busi- nesses in 2022, publishers responded with everything from scrappy, resourceful and changing to steady, optimistic and normal. But the most com- mon word summed up the year for many publishers: Challenging. How AAM can help When asked how AAM can help publish- ers, 52% said they would like AAM to share more insights about how buyers use their data, while 41% said sharing stories about successful programs from other publishers. 67%\ Respondents who saw an increase in digital subscriptions 80%\ Respondents who experienced rising production costs 82%\ Respondents who said advertising would continue to be a main source of revenue Want your money faster? Email melissa@nynewspapers.com for an ACH enrollment form.

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