The financial media has long been the centre of the digital world, and one of the biggest contributors to the web’s growth.
It also helps define the landscape of what it means to be a news consumer, says Mark Lillis, director of news content at research firm IDC.
In a bid to create a more accurate, more compelling and more accessible news feed, many of the major financial news outlets have moved to mobile, as well as investing heavily in mobile technology.
This has had an impact on how content is delivered, and the number of people accessing the web to access it has increased.
But how are news organizations tackling the task of delivering accurate, timely and accessible information to readers?
To that end, the latest report from IDC’s digital news business research unit shows how the financial media is tackling this issue, in part by making sure it is accessible to more people.
The latest digital news trends For the second quarter, the number-two source of news for Australians aged 25-34 was the ABC, with nearly one-third of all digital news consumed on mobile devices, up from around 23 per cent a year earlier.
In the first quarter of 2019, the ABC’s online audience for digital news was up from 9.1 million to 12.2 million.
Meanwhile, the top three sources of digital news for those aged 25 to 34, with the exception of the ABC itself, were all on mobile.
News organisations are moving to mobile for the same reason that people are moving online: to get the most out of their digital devices.
In that sense, mobile media is already changing the way news is delivered.
“Mobile media offers the potential to create the kind of seamless experience that enables a broader and broader audience to consume news and information on a mobile device,” says Mark D. Leckie, a professor at the University of Technology Sydney’s business school and chair of the Digital News Business Research group.
“While mobile media does not deliver the same level of information on all devices, there are obvious advantages in being able to deliver news in a manner that’s accessible to a broader audience.
This approach to delivering the news on mobile is different from traditional media, which is primarily delivered through traditional wireline newsrooms. “
These advantages make mobile media a promising alternative for delivering news to a wider audience.”
This approach to delivering the news on mobile is different from traditional media, which is primarily delivered through traditional wireline newsrooms.
The shift in the way that news is consumed and delivered on mobile also has implications for the future of the industry, according to Lillys.
“The shift in media technology will inevitably change the way people consume news,” he says.
“And the industry needs to be prepared for that change to occur.”
Lillises research found that news organisations are now spending more time on mobile, with some spending up to 60 per cent of their overall time on the devices, compared to 20 per cent in 2014.
And they’re doing it more quickly than before, too.
According to the latest data from the Australian Broadcasting Corporation (ABC), the ABC spent up to 36 per cent more time in mobile in the first half of this year than in 2014, with about one-fifth of all news time spent on mobile in 2019.
While this has been an increase in spending, the majority of the increase is due to increased mobile traffic to the ABC.
And while there is no single reason why the increase in mobile time is occurring, there is a correlation between increased mobile usage and an increase of mobile users.
Mobile users in the US have also been moving to smartphones in greater numbers, according an IDC report.
Mobile apps and social media The ABC has recently been working to change the ways that it delivers the news, with plans to move the ABC into a more mobile-friendly future.
“We believe that mobile is the future, and we want to take advantage of it to deliver more compelling news and more compelling content,” says Lillies director of digital journalism, Nick Smith.
“That means we’re moving from an online newsroom to a mobile-first newsroom.”
News organisations across the board have begun to adopt mobile technologies to enhance the experience for readers, including mobile-based apps and the social media platform Instagram.
In an effort to help build a more digital news experience, some news organisations have also moved to social media to build a broader base of followers.
For example, the Australian Financial Journal’s new mobile app is built to allow people to share news, reviews and stories with one another and with other people, such as on social media.
Other news organisations like the Financial Review are using mobile to increase the number and variety of views it gets from its users.
“For many news organizations, the mobile experience has become an integral part of how they deliver news,” says Smith.
This includes the Australian Bankers Association, which has partnered with the Bank of America, Citigroup and others to bring a live chat