Ogilvy unveiled the results of its 2018 Global Media Influence Survey at Cannes Lions yesterday, which shows that trust in traditional media outlets is continuing to decline.
The fifth annual survey of over 350 journalists found that 50.4 percent of reporters surveyed said that traditional media was the most trusted platform, down from around 72 percent in 2016.
Despite revelations around fake news on social platforms, social media is the second most trusted news platform in North America, at 17 percent, which is up from 12 percent last year. Owned media, including company websites and press releases, come in ahead of social media for EMEA and APAC at 34 percent and 24 percent, respectively, compared to 10 percent and 11 percent for social media.
Additionally, 38.2 percent of reporters surveyed agree that there will be “more collaboration between news media and social media platforms,” up from 24 percent last year, while 25.5 percent believe it will lead consumers to be more willing to pay for verified news.
“Traditional news outlets are alive and well, but their partnerships with social media will have to continue to evolve,” Ogilvy worldwide chief communications officer Jennifer Risi said in a statement. “It is increasingly clear that traditional media will have to collaborate across channels, and those integrations with social media will be key to their ability to drive authentic, transparent communications going forward.”
Such collaboration may help combat some of the issues around social media.
For instance, 35.7 percent of reporters surveyed believed that the news industry had “the most responsibility” for tackling echo chambers on the internet and social media, while 68 percent believed it was the responsibility of both the news industry and social media platforms like Facebook. In North America and EMEA, 35 percent and 33 percent of respondents, respectively, said it was the social media companies who had “the most responsibility” for tackling the problem, while in APAC 47 percent said that the news industry needed to rethink its business model.
Looking ahead, over 60 percent of respondents believe that online news will overtake TV as the top news source within the next five years.