How To Put Bad News To Good Use
Although today’s media landscape continues to grow more splintered and experimental, many players still obey the old maxim: “if it bleeds it leads.” From a journalistic perspective, it’s a crass way of prioritizing stories. From a commercial point-of-view, it’s a proven method of boosting revenue.
That’s because the math is simple. Putting news value aside, tragedies make for cheap content with high return on investment. The more sensational the coverage, the more eyeballs. The more eyeballs, the more ad sales. No wonder traditional and social media news outlets make the most out of natural disasters, terrorist attacks, school shootings and the like. This profit motive carries over to our justice system too, which yields “top stories” in abundance. Legal controversy, like tragedy, is a cash cow.
After all, the news business is just that – a business. The effort put into gathering facts and providing analysis should warrant compensation. But how balanced is the equation? Let’s not forget how the most spectacular news events are rehashed to generate even more revenue. Who hasn’t seen archival footage of decades-old stories, like the 9/11 attacks or the Exxon Valdez oil spill, repackaged as memorials, special reports and YouTube clips? Such reworking shows how easily reporting gives way to lucrative infotainment. Katrina. Columbine. The Hindenburg. They’re still being used to attract advertising dollars.
A New Approach
But what if some of that money was redirected? What if media outlets donated, say, 0.005% of the ad revenue they earn from covering tragedies to various relief efforts? What if they made this commitment in perpetuity? In essence, they could create an annuity to help repair what they report is broken. In other words, the media could put their money where their mouth is.
Consider the impact. Every $1 million of ad revenue would generate $5,000 in charitable contributions. If that doesn’t sound like much at face value, then reflect upon the myriad ways that a tragic event is covered. Then multiply by the number of outlets selling ad space against each story. It adds up fast.
To help put things in perspective, mull over these findings from the Pew Research Journalism Project’s 2014 State of the News Media report:
- More than two-thirds of total news industry revenue comes from advertising.
- Total incoming money supporting the U.S. news industry: $63-65 billion.
- Estimated 2013 revenue from digital video advertising: $4.15 billion – up 44% from 2012.
- 25% of local TV stations do not produce original news content (translation: they make money off network news feeds loaded with various misfortunes).
The Pew Report came out before we knew what 2014 had in store. Since then, crises like Ebola, Ukraine, ISIS, the lost Malaysia Airlines flights and so many other events made it a big year for bad news.
If the media can expect to profit from the suffering of others, then surely they can offer a modest dividend in return. It would be easy for them to bestow a small portion of their earnings to humanitarian aid funds, environmental repairs and social justice causes of their choosing (or selected by their followers). Blueprints for giving are plentiful, especially in the realm of cause-related marketing.
It would be a smart move too. Advertisers are always looking for ways to maximize the impact of their promotional spending – especially tactics that build goodwill. Fast movers on this idea can set new standards for corporate social responsibility and sustainability. That, in turn, could help them grow loyal audiences, which always attract ad dollars. A virtuous cycle indeed.
Think about it. Our fixation with bad news could actually help fix things. What a great story that would be.
Mike Durand is the founder of Vox Auxilio, a Seattle-based communications and design studio.
Expanding my network to use LinkedIn full potential
2 年Mike, thanks for sharing!
Senior Communications Counselor and Team Leader | Passionate about client success, market research, sustainability, the outdoors, and building successful teams
9 年Great article, Mike! Your approach would make us all feel better about the tragedies we read about daily in the news.
Associate Professor at University of Washington
9 年Awesome idea and so well written - I am sold. Too bad that I do not head a major media empire.
Tysons Office Managing Partner at Hirschler Fleischer
9 年Excellent idea.
Making Positive Stuff Happen for Your Brand
9 年Very smart, Mike.