INMA Study Tour Day 1: What Do I Really Know About Finland’s Media and their digital transformation?

When I first joined the International News Media Association (INMA) Finnish Media Study Tour, I thought I had a reasonable grasp of Finland’s media scene. As of facts of Finland as a country I know of its lakes, santa clause lives there, and let’s not forget their number one artist: Darude with the hit-song “Sandstorm”—the first song I ever (illegally) downloaded on LimeWire, like many others back in the day. But media? I quickly realized I had a lot to learn. Finland consistently ranks as one of the most trusted media markets in the world which I read in the latest Reuters news reports, so how exactly are they maintaining such credibility while also growing their revenue in an era of declining traditional media?

On Day 1 of the tour, I joined a group of media professionals for a deep dive into two of Finland’s leading media giants: Alma Media and Sanoma. Armed with curiosity (and comfortable shoes for all the walking), I was ready to get a true insider look at how these companies are mastering the balance between innovation, audience trust, and revenue growth.

Alma Media: Leading the Digital Charge

Our first stop was Alma Media , where we were warmly greeted by Juha-Petri Loimovuori , Execuitive Vice President of Alma News Media. Alma’s transformation from a traditional local print media company to a digital powerhouse is nothing short of impressive. Today, 82% of their revenue comes from digital sources, showing just how much they’ve embraced the future and also diversifying their portofolio across Alma Career, Alma Marketplaces and Alma News Media!

AI-Driven Personalization at Iltalehti

One of the most fascinating insights came from Iltalehti and their editor in chief Perttu Kauppinen , Alma’s flagship digital brand and Tabloid. He explained how the first three stories on the homepage are manually curated—but everything beyond that is driven by AI. This AI-powered personalization has led to a 6% increase in click-through rates (CTR) across the homepage. In media terms, that’s a significant boost.

But it wasn’t just about personalization for clicks. Iltalehti has also focused on testing everything—headlines, images, story placements—to understand what engages their audience best. This continuous A/B testing informs their editorial decisions, helping them find the right balance between audience engagement and revenue growth.

Interestingly, Kauppinen revealed that negative news stories consistently generate more traffic than positive ones, but—and here’s the twist—positive stories tend to convert more readers into paying subscribers. This delicate balance of feeding reader interests while driving subscriptions is a hallmark of their content strategy, and the personalization algorithms are fine-tuned to make the most of both.

Churn Prevention: Alma’s Revenue Lifeline

Of course, it’s not enough to attract subscribers—you have to keep them. Alma’s churn prevention strategy, presented by Johanna Suhonen , is a masterclass in using tactics to maintain loyalty. They’ve developed a three-step process for retaining subscribers who are on the verge of canceling:

1. Fear of Missing Out (FOMO) Page: When a subscriber starts the cancellation process, they’re immediately shown a page that highlights the personalized content they’ll miss out on. This algorithmically chosen selection reminds readers of the unique value they’re getting by staying subscribed.
2. Poll Data: Alma doesn’t let subscribers cancel without understanding why. Subscribers are asked to explain their reasons for leaving through a poll, which provides Alma with valuable data for personalizing win-back offers.
3. Personalized Pricing Offers: Based on the subscriber’s lifetime value, Alma presents them with personalized offers to encourage retention. This balance of tailored pricing ensures that Alma maximizes retention without sacrificing profitability.

This sophisticated churn prevention system has allowed Alma to significantly reduce subscription loss, helping them keep revenue steady as they continue their digital transformation.

Sanoma Media: Finland’s Media Machine

Not faar away, we headed just a few blocks over to Sanoma Media Finland , which feels like a media empire in its own right. With 97% of Finns interacting with Sanoma’s content each week, they’re a dominant force. But how do they manage to maintain such an enormous reach while also increasing revenue? Timo Rinne (VP Digital Development), Esa M?kinen (Executive editor at Helsingin Sanomat) and Niina Viitanen (Head of digital development) had set up the A team to answer that for us!

The Power of Direct Traffic

One of Sanoma’s most impressive achievements is that up to 80% of their traffic comes directly to their homepage. This is a critical part of their strategy. Rather than relying on social media platforms or third-party intermediaries, Sanoma has worked hard to build a direct relationship with their audience. This direct traffic allows them to not only drive consistent engagement but also control the monetization path.

For example, Ilta-Sanomat use AI to personalize their homepages for 95% of their readers. Holopainen Simo (Managing editor) and Maximilian Koppatz (Lead Data Scientist & Product Manager), shared how the AI delivers a tailored reading experience, improving user satisfaction and increasing the likelihood of conversions.

AI Beyond Personalization

But AI isn’t just for personalization. The Sanoma AI Lab team introduces us to the “Headline Helper,” an AI tool that suggests optimized headlines for journalists to use. While not perfect (and sometimes quirky in its suggestions), it saves time and helps journalists craft more engaging headlines that resonate with readers.

Another AI tool that the Sanoma AI team has built was “Watchdog,” which monitors regulatory decisions and alerts editors to breaking developments. Nothing like a dog barking up on Slack with news worthy stories to write about.

Revenue Growth Through Subscriber Loyalty

Sanoma’s subscription model is also key to their revenue success. They shared how nearly 900,000 Finns pay for digital subscriptions across Sanoma—an incredible feat in a country of just 5 million people. Sanoma focuses on creating valuable, trustworthy content that builds long-term loyalty, ensuring that subscribers feel they’re getting their money’s worth and across formats such as Tv, Streaming, News and other channels!

The AI-Human Balance: How Much Should We Trust Algorithms?

As impressive as Finland’s media landscape is, the increasing reliance on AI and algorithms raises important questions: Where do we draw the line between AI-driven insights and human editorial intuition?

While AI helps drive clicks, boost personalization, and even enhance retention, it’s important to remember that algorithms can’t capture the full nuance of editorial judgment. Can AI guide a newsroom through ethical decisions, or understand the broader societal context of its recommendations? I have many questions, but also see the impressive potential!

Final Thoughts from Day 1

Alma and Sanoma are not just keeping up with the times—they’re setting the pace. Through a powerful mix of AI-driven innovation, personalized front and article pages, and diversified revenue strategies, they offer a masterclass in how traditional media can not only survive but thrive in the digital age.

But amidst all this progress, one important question remains for me: how much control should we hand over to algorithms? AI has undoubtedly revolutionized many aspects of media, but finding the right balance between human editorial intuition and automated decision-making remains a critical challenge.

As Day 2 begins, we’ll continue our journey by visiting Keskisuomalainen, YLE, and MTV. Unfortunately, I missed the visit to Hufvudstadsbladet Ab today due to a meeting, and I’m aware there were a few key insights I didn’t catch overall across the day. But with so many takeaways already, these were my top learnings from Day 1.

I’m excited to see what tomorrow brings—there’s still so much more to uncover.

Especial thanks today to Grzegorz Piechota , Tom Corbett , Juha Siintola , Markus Paul and the rest of the INMA team for coordinating and taking us from A to B. I’m excited to see what today brings as we start day 2, Kiitos! (Thank you in Finnish)