Youth-based publications are racing to diversify their revenue and audience engagement strategies in response to the increasingly fragmented media landscape.
This month, it was announced the local versions of Kotaku, Gizmodo, Lifehacker, Vice, Refinery29 would close amid competition from social media platforms and shrinking advertising dollars.
However in interviews with AdNews, The Brag Media, Shameless Media, Mamamia and Man Of Many cited diversified revenue streams and audiences as a key competitive advantage moving forward.
Shameless Media founders Michelle Andrews and Zara McDonald have taken a 360-degree approach to monetising their business' audio offering for more than six years.
“So, while people will know us as a podcast business, we've always been proud of how our campaigns live across podcast, social and newsletter,” McDonald says.
“It’s been powerful for our brand partners to have multiple touchpoints with our community who don’t just exist on the internet in one place.”
Shameless Media pushed into subscription in early 2023 and have had a positive response from their community for content that lives behind a paywall, with 7500 paying ShameMore subscribers.
The pair are also currently in the process of diversifying into further passive revenue streams this year. Unlike many, their business hasn't been affected by changes at Meta or TikTok.
Andrews says Shameless Media doesn't rely on the news bargaining code or ad dollars because its never used either.
“We’ve worked hard on creating audiences that we can reach via our owned channels (our podcast RSS feeds, plus our eDM databases and our paid subscription offering), without relying too heavily on global companies like Meta and TikTok,” she says.
“Over the years we’ve put a lot of resources into growing our presence on these apps, with almost 1.3 million followers across Instagram and TikTok. But these have been built organically, and we feel very lucky and relieved in that regard.”
For McDonald, the future for youth-focused publishers will look similar to the past. Sweeping changes in the digital space aren’t new, she says.
“When we worked at a digital media publication before Shameless Media, we remember the stress and pressure of Facebook changing its algorithm, and deprioritising news content in exchange for personal/friends-and-family led content,” McDonald says.
“That experience taught us that a thriving youth-focused media company needs to have a multi-channel approach; when big players can change algorithms in a blink of an eye, you cannot put the power solely in their hands.
“That’s why we prioritised a range of platforms (audio, newsletter, Instagram, Facebook and TikTok) from 2019, because we don’t want to rely on one stream that can boost us, or kill us. In that vein, the future necessitates not depending too heavily on a singular algorithm or platform.”
Head of The Brag Media Jessica Hunter told says young audiences today crave unforgettable, immersive, live experiences.
“This desire skyrocketed after the pandemic, as the need for in-person connection intensified. Recognising this shift, we took decisive action to adapt our approach and commercial team structure diversifying our revenue streams,” she says.
The Brag Media wanted to transform its publishing brands, such as Rolling Stone, into live, shareable experiences, such as the Rolling Stone Courtyard at SXSW last year which saw local music acts, including Jess Mauboy and Teenage Dads, perform.
A cornerstone of this strategy was the establishment of an in-house studio and events team who are specialists in event production, talent management, media and content creation, Hunter says.
“These live experiences and their associated content assist us to generate revenue through various channels, including sponsorships, branded content, media, ticket sales, and co-branded merchandise.”
If Meta is designated under the news bargaining code, Hunter says the publication is unlikely to feel the effects, having worked on championing a diversified audience strategy, ensuring its not beholden to any single platform.
“Across our .com platforms, we connect with over nine million young people every month, with a significant majority (~80%) coming from sources outside of Meta,” she says.
The Brag Media leverages a variety of channels to deliver targeted content such as its owned and operated ‘Observer’ newsletter series, with 200,000 fans and an open rate of 48%, which allows the publisher to deliver curated content directly to subscribers based on their specific interests such as live music, comedians, gaming, and film & TV.
While the publication maintains a presence on Facebook, Hunter says, its focus is on building authentic communities across the platform rather than focussing on monetisation strategies.
“Facebook groups, like the "Tone Deaf-curated Splendour 2024 group," is an excellent example. These groups foster genuine connections and allow passionate young people to engage in meaningful discussions around shared interests.
“The potential designation of Meta might impact some publishers, but The Brag Media's diversified and agile approach ensures we can continue to deliver impactful content and experiences for young audiences, regardless of platform-specific regulations.”
For Hunter, the rise of platforms like TikTok is an opportunity to innovate and collaborate rather than a threat.
“Our focus is on creating brand-safe, engaging content and immersive live experiences that resonate with young audiences, think trending formats like "Variety Actors on Actors" – content that naturally sparks organic sharing across their social networks, including platforms like TikTok. This approach allows us to leverage these dynamic platforms to amplify our content and the visibility of our partner brands,” she says.
For the future of youth-focused publishers, developing a distinct content philosophy and robust publishing guidelines are essential for publishers to thrive, Hunter believes.
“These elements act as the cornerstones of your brand identity, ensuring audiences recognise and trust your voice no matter where they encounter your content.”
Digital natives today demand authentic content that speaks their language, rejecting clickbait, Hunter says.
“Youth publishers need to offer content that is politically-agnostic or, if tackling politics, presents a variety of perspectives. We must speak to our audience in their tone of voice, avoiding patronising language or treating them as a homogenous group.
“For those who can bring young audiences authentic experiences, build a sense of belonging, and deliver content that respects their diverse perspectives, the rewards will be immense.”
Mamamia CEO Natalie Harvey says the independent women’s media group has been on a journey for some time to diversify its revenue & audience engagement models.
“This includes being the leading pure play podcasting network in Australia, launching SQUAD - our social media and content agency - launching subscription in 2021, and our exercise app MOVE by Mamamia last year. We have a lot of exciting products on our roadmap,” she says.
Harvey is unsure whether Mamamia will be affected if Meta is designated under the news bargaining code.
“It depends on what the Government and Meta do, which isn’t clear yet. We’re in a fortunate position all up. Due to our revenue diversification and audience engagement we have a strong base should there be disruption to content on Meta platforms,” she says.
“It would be incredibly disappointing if News content disappears from the platform similar to what’s transpired in Canada. Not only for publishers but also for society as a whole.”
The publication also doesn't see TikTok as a threat, taking away ad dollars. It uses the platform to promote its content and extend advertising campaigns.
“I would suggest it is taking ad dollars away from traditional publishers, broadcasters and even for other social platforms. But for us, it’s complementary,” Harvey says.
Moving forward, Harvey says younger audiences are hard to reach, and hard to keep.
“Publishers who don’t have a specific strategy to recruit and keep younger audiences will see a slow burn over time. Those that do have a strategy will need to be agile, test and learn, and ensure there are people internally in the demographic leading the charge content wise.”
For Man of Many co-founder Frank Arthur, diversifying the men's lifestyle site’s revenue model has been a strategic priority to ensure sustainable growth and resilience.
“While native content and display advertising continue to be a core revenue component, we have significantly expanded our commercial offerings over the past decade,” he says.
The publication's Branded Content Production Studio has evolved to offer creative agency services.
“We’ve increased our focus on video, creating tailored content specifically designed for social media platforms, and producing longer-form video content for YouTube. We've also developed a number of content series IPs and work with aligned brands who’ve partnered with us to leverage our IP.”
Man of Many’s newsletter, boasting 150,000 subscribers and a 40% open rate, is another vital monetised channel, Arthur says.
“This owned platform is crucial for combating changes imposed by big tech platforms and maintaining direct engagement with our audience.”
Events have also become a significant area of growth for the company, with it also having ventured into e-commerce and relaunching its merch store soon.
“We will also be launching a reader revenue model, including paid subscription options, to complement our existing streams. This initiative aims to offer exclusive content, shopping exclusives, regular prizes, special events, and other benefits to our most dedicated followers, adding another layer of revenue diversification and fostering a deeper connection with our audience,” Arthur says.
The potential designation of Meta under the News Media Bargaining Code does present challenges, but for Arthur, Man of Many is prepared to navigate them.
The site’s dependence on Meta platforms is minimal, accounting for less than 3% of its website traffic.
“Our audience's intentional engagement with our website, driven by direct visits, search engines, and newsletters, ensures that we remain resilient and adaptable to industry changes. We’re well-diversified and not reliant on any single platform,” he says.
While Man of Many supports regulatory measures that promote a fair media ecosystem, the company has actively participated in a coalition urging the Australian government to consider the broader implications of such actions.
Arthur says the team’s recommendations to the ACCC and government include advocating for inclusive negotiation mechanisms, supporting media diversity, and safeguarding against platform withdrawal.
“We have also taken direct action by communicating with government officials through open letters and leveraging our platform to educate our audience about the ongoing changes and how they can support independent medium,” he says.
Connecting with the youth market isn't about relying on a specific platform or medium; it's about meeting the audience where they are and delivering content in the way they wish to receive it, Arthur says.
“As trends and popular platforms change, publishers need to stay agile, keeping their fingers on the pulse to adapt quickly to new trends and technologies.
“Fostering direct and intentional engagement through various formats is important, but even more crucial are community-building initiatives that establish and maintain meaningful connections.”
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