Reputations, The Internet, And The Future
A report from the second Echo World Editors' Forum
Market Research Director, Echo Research, United Kingdom
BACKGROUND – THE FIRST ECHO WORLD EDITORS' FORUM
The Echo World Editors' Forum was first run in 1999 when Echo Research conducted interviews with 40 of the leading business editors around the world. The sample was selected by communication specialists in each country to reflect the most prestigious and innovative business media in each country. This qualitative research was then supplemented with extensive desk research leading to the publication of the first Echo World Editors' Forum report in November 1999.
The report showed that the internet was presenting four key challenges and opportunities to well-known media brands:
- Shifting Competition. The internet was proving to be a direct competitive threat to basic news gathering, thereby forcing existing media brands to examine and focus on their core strengths.
- Credibility. Editors of mainstream business press felt they had an advantage of authority and therefore a role of reliable source, news filter and editor.
- Brand extension. To counter these threats to basic newsgathering, more and more were embracing the web and dedicating significant investment to on-line versions of their publication.
- Investment and Resourcing. While significant investment was heading online, journalists were commanding higher salaries in their new role of reporter-analyst. Meanwhile constant (or even decreasing) advertising revenue was being spread more and more thinly across more media.