News outlets promoted their work on various online platforms, hoping to bring readers and advertisers back to their own websites. However, ad dollars have largely flowed to Facebook and Google, according to reports.
But now, as we head into the new year, publishers are hoping that they will have the upper hand on tech platforms that have profited from their work. As of now, the inflow of money to newsrooms is still relatively small, but media executives are encouraged by what they say is a willingness to pay for news.
“It’s a positive trend we’re seeing from the platforms,” said Ben Smith, editor-in-chief of BuzzFeed News.
With optimism high, many companies have started to take initiative. For example, Pocket, an ad-supported app owned by Mozilla Corp, struck a deal with the Atlantic and is talking to other publishers about paying to host older stories.
Another example is Medium, a digital publishing company which has paid about a dozen publications, including New York magazine and MIT Technology Review, to share a handful of articles.
“We continue to have conversations with quality publishers and expect to bring many new partners on board in 2020,” a Medium spokesman said.
After years of chasing Web traffic for advertising dollars, media executives are more discerning before handing their journalism over to tech platforms, said New York Times, chief executive officer Mark Thompson.
“There was a sense that Silicon Valley was doing us a favor by distributing our content and we should be grateful for that,” he added.
