September 25, 2017 | Lucy Penn
We all know that challenges arise daily for publishers, occasionally playing a major role in forcing them to completely rethink their future business models. Therefore, each year WAN IFRA creates a World News Publisher Outlook report, which analyses the ‘world’s most profitable media companies’ looking at what they are investing in to help other businesses prosper in the digital world.
After surveying 235 news executive and managers working in media across 68 countries, WAN IFRA found that a ‘reluctance to innovate’  was their number one concern. This was followed by identifying new ‘revenues streams and a sustainable business model’. These concerns could be down to a number of differing factors, including limitations on in-house resources or a lack of insight.
The analysis also found that there was a ‘significant relationship between the innovation culture in firms and their financial performance. In fact, companies that prioritise innovation are more likely to report organisational and financial success compared with companies that don’t.’  Reinforcing the need to have innovation at the heart of your business infrastructure.
This is why PageSuite doesn’t just work with publishers but we aim to act as an extension of your business. PageSuite are constantly innovating and trialling new revenue generating business models to advise you on digital strategies that would best suit your business. We’re constantly monitoring new software updates and technology launches to see how we can utilise them within our products.
The report then explored the top areas that publishers are looking to invest in. The top result was video which comes as no surprise. Software and app development was also in the top three results, reinforcing the view that publishers must adjust to the way readers are now consuming their content. See the full results below.
The WAN IFRA report highlights many other key findings including culture change, digital strategies and methods to increase digital revenues. You can download the full report here.
If you would like to discuss how PageSuite could help your company to innovate and meet your business goals don’t hesitate in getting in contact!