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The real cost of commodifying journalism in 2024

Commodifying Journalism

In today’s media landscape, it seems stories are selected not based on importance but on clicks

Opinion article by Richard Hayes

Regarding commodifying journalism, I recently came across the ITER project on YouTube. This monumental effort to achieve nuclear fusion represents a potential game-changer for humanity’s future energy. Fusion could provide a nearly limitless, clean energy source, dramatically changing how we power the planet. Despite its profound implications, ITER remains largely absent from mainstream media*.

Why? One possible reason is the project’s complexity

Explaining nuclear fusion to the average news viewer is no small task. Another potential issue is timing. While ITER’s success is groundbreaking, it is still years away, and today’s modern media environment thrives on immediacy.

With outlets driven by short-term viewer engagement and advertising revenues, long-term and vital stories like ITER are often overlooked. The question is then raised: Has the news become a commodity focusing on clicks and quick returns?

The focus seems on driving audiences to "click"

As news outlets face increasing costs and shrinking profit margins, content that drives viewership or clicks becomes more valuable than covering in-depth, complex topics.

This trend has turned news into a product that must justify its cost, leading to less coverage of issues that truly matter, like ITER, and more focus on content that keeps the machine running.

The costs of producing news in 2024 have become more complex and burdensome, particularly for mainstream media outlets. One of the most significant expenses is content production, which includes paying journalists, video crews, and editors. We have already seen this effect in New Zealand with the demise of Newshub.

All these costs make it harder for outlets to prioritize stories like ITER, which require deeper analysis and longer-term investment, over quicker, more profitable content that brings in immediate clicks or ad revenue.

AI has significant potential to help bring down the costs of media production

AI has significant potential to lower the costs of media production, particularly in areas such as content creation, distribution, and operational efficiency:

Automating Repetitive Tasks:
AI can handle basic reporting, such as summarising financial reports, weather updates, or sports results. Automating these routine tasks frees journalists to focus on more complex stories.

Editing and Post-Production: AI-driven tools can assist with video editing, transcribing interviews, and even generating visual content, cutting down on time and labour.

Personalisation and Targeting:
AI will analyse audience behaviour and preferences, enabling media companies to tailor content more effectively and automate targeted advertising.

Efficient Distribution: AI algorithms will optimise how news stories are distributed across platforms, ensuring that content reaches the right audience more efficiently.

The cost of commodifying journalism will mean that news stories with significant societal impacts, like ITER, will often be overlooked in favour of more commercially viable content.

Media outlets are increasingly driven by the need to cover costs and remain profitable, which shifts the focus from critical, long-term issues to more sensational, revenue-generating stories.

Moving forward, the challenge for the media will be finding a balance between covering stories that matter and maintaining a business model that keeps the lights on.

* I’m based in New Zealand, so this might be a national vs international news issue.

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