Towards the end of last year, I had the privilege of addressing the attendees of Forecast 2024 at the prestigious Harvard Club in New York resplendent in its holiday decorations. As my friend, Jeff Charney, describes it, Forecast 2024 is attended by “broadcasting and business leaders, innovators, and legends.”
In my role of Chief Strategy Officer of Ad Fontes Media, I was invited by Radio Ink Magazine President and Publisher, Deborah Parenti, to speak about the vital role local news plays in the fabric of our communities and directly impacts the integrity and vitality of our democratic way of life. Local Radio stations play a very part in that with most formats delivering news, traffic and weather updates throughout the day. As Deborah summed it up:
“When you want to know what’s going on with the school board, how zoning initiatives might impact the value of local real estate, and what time the nearby high school is playing its crosstown rival, you turn to local news. This is true journalism that is alive so long as on-air lights are lit and local reporters are on the scene. But that takes money – big money that is being lost to Big Tech – estimated near $2 billion every year.”
And it’s not just big tech that is undermining the local news business, sophisticated grifters that operate “Made for Advertising” (MFA) sites - you know the ones, they promote all kinds of whacky silver bullet cures for whatever you think might ail you or false conspiracy theories that have no basis in reality - accounted for one in five impressions delivered in the recent Association of National Advertisers Programmatic Transparency Study, even though not a single participant in the study intended that any of their ads appear on those sites. These sites, which in the aggregate “steal” $17BB from advertisers through programmatic media, are directly taking money from quality news publishers and returning little to no value back to advertisers while delivering horrible user experiences and dubious information to anyone unlucky enough to find themselves on one of them. Suffice it to say, local journalism finds itself in a fight for survival and I was very happy to have the opportunity to address the owners and CEOs of many of the nation’s local radio stations and thank them for their service in the war on truth.
AS Deborah goes on to write in her excellent piece (link below): “Freedom is in Peril, Defend it with all of your Might! As ad dollars decrease, the survival of local newsrooms hangs in the balance, and with them hangs the survival of service to communities otherwise void of reliable news and information in our increasingly divided and dangerous world. We’re talking about responsible journalism that delivers the facts, not bias, at street level.”
I encourage you to read her provocative and important piece on the link below.
#journalismmatters #journalism #localnews
https://lnkd.in/ePqf6E2a
Vice President, Local News : The E.W. Scripps Company
2moFriends and colleagues - thank you for your generous words! Each one of you in some way help make this possible. Grateful to each of you. Jeff