Traditional media regains power and credibility during the Coronavirus pandemic
For 20 years, the media industry has been facing the challenge of surviving digitization. The difficulty of transferring the business model from traditional advertising to online added to the enormous competition that arose with social networks, caused the disappearance of numerous media around the world and the crisis of many others that continue to fight.
Along these lines, one of our latest studies, entitled " From Viral to Tribal", explains that more than 80% of Millennial and X generations do not pay for news. However, and contrary to what many might think, the press today reaffirms its authority as a reliable platform for information and opinion. In times of Coronavirus, fraudulent news on WhatsApp, quarantines and uncertainty, the media hit the table to regain that seemingly lost ground.
This is demonstrated by the latest Comscore data for the Latin American region. In an evaluation of the main contents with the word “Coronavirus” or “Covid-19” with the highest volume of interactions (mentions, likes, comments, etc.) on Facebook, Twitter and Instagram, from March 1 to 18, 2020, the media occupy the first places as top publishers in all the countries analyzed: Brazil, Mexico, Argentina, Chile, Colombia and Peru. Let's see the first three cases:
The first conclusion that can be drawn from the report is the importance that the press acquires when the public requires technical or specialized information. Another interesting point or second conclusion is that social networks function as amplifiers of media messages. That is, they are media for the media, not only for the replication of content, but also to spread as credible communication brands.
The third conclusion or issue to highlight is how the media has shown its potential again as advertising platforms for brands. As we said previously, social media entered the digital market to compete strongly for the advertising cake, although the role of the media continues to be active and leading.
Finally, it is worth noting the complementarity of social media with the press. Often seen as competitors, they are clearly integrated platforms that can function together when offering information and entertainment services to audiences