There’s been a shortfall of display ad revenue, first of all, forcing publishers around the world to cut and furlough staff. The New York Times estimated a 55% ad revenue shortfall, which is pretty indicative of what’s going on in the wider market. Live events, meanwhile, are freezing or moving online, and direct buys from brands have been strangled by market hesitancy and the freeze of business supply chains. As the Post’s chief revenue officer Joy Robins puts it, “our first priority can’t be to sell advertising”. Instead, she says, it wants its partners to leverage its content production and brand trust.
‘Our priority can’t be to sell advertising’ – Washington Post rethinks revenues in lockdown by John McCarthy on the Drum
This is so significant- the price of ‘free’ content on the web has been erosion of privacy, truth and democracy. It was as if everything we consumed online had a non monetary price tag. This realization, from an innovative publication like the WP may lead the way for a different set of revenue models that will not compromise societal values.