The UK Media Landscape in 2024:

Update 19/05/24 - A few headlines of what we've seen so far.

Shift from Social Media to Direct Channels: Publishers are turning away from social media platforms like Facebook and Twitter due to decreasing referral traffic. Instead, they prioritise direct distribution channels such as websites, billboards, apps, newsletters, and podcasts. Alternative distribution channels like WhatsApp and TikTok are gaining more attention.

Economic Challenges and Revenue Shifts: Despite the economic challenges it faces, the UK media industry is demonstrating resilience. A slower ad market and the phasing out of third-party cookies have led to job cuts, but the industry is adapting with a greater emphasis on digital subscriptions and other revenue streams. Notably, over 84% of media business leaders remain optimistic about the short-term future, a testament to the industry's ability to weather storms.

Significant impact of AI and Technology: The media industry is witnessing a significant transformation with the increasing prominence of Generative AI in newsrooms. AI bots and personal assistants are used more frequently for news and sports updates. However, there are concerns about intellectual property and the equitable revenue distribution from AI-driven deals. It is widely believed that large media companies will monopolise a significant portion of the revenue from these deals, raising questions about the future of smaller players in the industry.

Key Role of Events and Conferences: The media industry is gearing up for several pivotal events in 2024, such as the Future of Media Trends and Technology Conference. These gatherings will delve into crucial topics like AI in the newsroom, new revenue strategies, and tackling the advertising addressability crisis. They not only provide a platform for media professionals to share their expertise but also serve as a collective effort to address industry challenges and explore new trends.

Innovations in Content and Formats: There is a notable shift towards more visual content, with a significant increase in video production and a growing interest in newsletters and podcasts. This is part of a broader strategy to engage audiences and combat news avoidance, which has become a major trend.

But back to the original blog...

Welcome to 2024! It's not just the start of another year but the beginning of an exciting new chapter in the ever-evolving story of media and entertainment. We're thrilled to welcome you to the first of many insightful articles this year, where we'll explore, analyse, and celebrate the changes shaping our Industry.

So, please grab a cup of your favourite beverage and join us on this fascinating journey through the revolutionary changing world of media in 2024.

A New Dawn in UK Media

Navigating the Dynamic Evolution of Media in 2024

The media industry in the UK is going through a significant transformation in 2024. Changes in consumer trends and economic factors are expanding and redefining the media environment. With new technologies and media channels emerging, the UK media landscape is set to become more vibrant, versatile, and diverse than ever before.

As a result, this fresh and dynamic media landscape is poised to capture the attention of a broad range of audiences, making it an exhilarating moment for both media professionals and consumers alike...

Streaming Takes Centre Stage

The Unstoppable Rise of Video Streaming Services

The entertainment industry has undergone a significant change with the introduction of digital media, particularly with the rise of streaming services. The Streaming Video on Demand (SVoD) market is expected to grow by almost 10% by 2027, indicating that streaming is not a passing trend but the future of entertainment.

The rise of Sky Pre-Roll Digital in 2023 and its further expansion in 2024 has caused a rethink on how to connect TV and Digital into Social Media, including YouTube. With the increase in streaming services and the availability of high-speed internet, it's now easier for people to access their preferred content from anywhere, anytime, and on any device.

The way we watch and experience entertainment is changing rapidly. But it's important to note that people aren't enjoying streaming more; streaming is simply the easiest option. In this article, we'll explore this phenomenon further.

Learn more about how we handle VoD Advertising.

The Resilience of Traditional Media

How The BBC and ITV Continue to Thrive Amidst Digital Shifts

Despite the widespread adoption of digital media, traditional forms of media continue to play a significant role in our daily lives. Far from being replaced by digital media, traditional media outlets are thriving, as evidenced by the BBC's ability to reach 91% of UK adults weekly. This is a remarkable achievement and a testament to the enduring appeal of reliable, high-quality content. It indicates that the trust and familiarity associated with established news sources still hold significant value in the era of fleeting digital trends. This trust and familiarity result from a long history of delivering accurate and unbiased news and building strong relationships with audiences over time. 

As a result, traditional media continues to be a critical source of information for many people, providing them with a sense of stability and continuity in an ever-changing world.

The Re-emergence of Out-of-Home Advertising

Billboards and Outdoor Media Making a Comeback 

Interestingly, traditional out-of-home (OOH) advertising, including billboards, is experiencing a resurgence. In an era where digital clutter is everywhere, the simplicity and physical presence of OOH advertising are capturing renewed attention. Despite a temporary dip during the pandemic, OOH advertising remains a surprisingly wide-reaching medium. It’s a testament to the enduring power of physical advertising in the digital age. It is a tangible reminder in our daily lives compared to just another thumb flick across your screen.

But if you want to dig deeper into this, check out our dedicated blog on this topic.

Learn more about our Outdoor Advertising.

Print Media's Surprising Persistence

The Enduring Appeal of Newspapers and Magazines

Despite the transformation of the media landscape, print media has displayed remarkable resilience. Newspaper consumption remained steady between 2022 and 2023, which contradicts the narrative of print's demise. Moreover, the resurgence of magazines such as Time, with a 13% increase in reach, suggests that people once again appreciate in-depth, thoughtful journalism. This resilience can be attributed to the growing desire for credible, well-researched content in an era of fast, often unreliable online news.

Blending the Old with the New

Traditional Media's Bold Leap into Digital Technology

Digital technology is rapidly transforming traditional media, and we can see this in integrating digital platforms, which has increased by 40%. This change is more than just an adaptation; it's a bold step forward that demonstrates traditional media's understanding that the future lies in blending the old with the new. This strategic move marries the reliability and credibility of traditional media with the innovation and accessibility of digital platforms.

Broadcast TV's Continuing Dominance

Understanding Broadcast TV's Ongoing Appeal in the Digital Age

Despite the emergence of digital media platforms, it is noteworthy that broadcast TV continues to dominate as the most frequently utilised news source, with a whopping 70% of UK adults tuning in. This paradox is intriguing because it suggests that despite the appeal of new digital formats, people still prefer conventional and trustworthy broadcast formats. This preference could stem from habit, perceived credibility, and the shared experience of watching scheduled programming. People may find comfort in the familiarity of television news or feel reassured by traditional news broadcasts' perceived authority and professionalism. Furthermore, the shared experience of watching live TV with family and friends could add to the appeal of broadcast news, creating a sense of community and connectedness – “Did you watch the latest episode of Game of Thrones?”. 

This sense of community and shared experience can be expanded to other advertising types, particularly controversial physical advertisements and experimental campaigns. 

Overall, it is clear that despite the ever-increasing popularity of digital media, broadcast TV still holds a special place in the hearts and minds of many viewers.

Learn more about what we achieve with Broadcast Advertising.

Social Media's Role in News Consumption

The Rise of Platforms Like TikTok in News Dissemination

Social media has become a crucial news source, especially for younger generations. It can democratise news distribution, providing access to diverse viewpoints. However, it comes with its own challenges – The credibility and quality of news on these platforms can be questionable, with a lot of social media adding notes to potential ‘fake news’ to try and combat misinformation. A new news source, TikTok, has recently emerged, catering to shorter attention spans and a preference for visually stimulating and concise content, reflecting a shift in how people consume news.

Our Conclusion: A Harmonious Media Blend

The Future of UK Media - Integrated, Diverse, and Engaging

The media landscape of 2024 should ideally combine conventional and innovative media forms in an interesting way. This integration is critical to effectively attracting diverse audiences in a crowded digital market. This evolution aligns with the no-nonsense, results-oriented ethos on which we have built The Ark Media. The media landscape values traditional media's depth and credibility and digital platforms' immediacy and innovation, creating an enriching and accessible media experience.

Don't hesitate to contact us if you want to expose your business to different advertising mediums.

References & Sources:

Statista. Projected Growth of the UK's Video Streaming (SVoD) Market by 2027

Ofcom. News Consumption in the UK: 2023 Report 

PwC UK. UK Entertainment & Media Outlook 2022-2026

RSM UK. Media and Technology UK - Industry Outlook 2024 

Prolific North. How Traditional and Digital Media Consumption Changed Across Britain After COVID