As News Outlets Disappear, Does Earned Media Still Matter? 

Halfway through 2024, it’s clear that the woes of the long-suffering news media are nowhere near abating. Traffic to many of even the most significant media sites continues to shrink; subscription growth has hit a ceiling, and U.S. consumers increasingly turn to social media for news. (The storied Washington Post, to pick just one example, has seen its traffic drop by half since 2020.)

We at MikeWorldWide have been following this story for some time. We see no reason to think the carnage is over, and while some high-profile names with either a healthy subscriber base or ancillary business models will survive or even thrive, virtually every other mainstream outlet will remain under pressure, and many will disappear.

But should brands that need to build a reputation, manage a crisis, or get their message out even care? If the kids are all on TikTok, mom is on Instagram, and grandma is busy scrolling her Facebook feed, should businesses still pay attention to the so-called legacy press?

Absolutely. No matter how fragmented the audience or consolidated the media business becomes, there will always be organizations committed to the core mission of news gathering – and it is in fact more important than ever for companies to have a comprehensive earned media strategy. It remains, after all, a critical part of the modern media ecosystem. Here’s why earned is still important:

Credibility: Readers still trust what they perceive to be quality, fair news coverage, and audiences that consume top-tier news are generally considered to be thoughtful and influential. Certain publications like The New York Times, The Washington Post and The Wall Street Journal will always be known for setting the national agenda, every day. Without their work, social platforms would be far less effective. Neither paid nor owned, both of which are important parts of any comprehensive integrated strategy, have as much bang-for-buck in reputation building. (Incidentally, we at MWW have some pretty good ideas about how a well-wrought integrated plan can strengthen your corporate reputation.)

Reach: Even now, top-tier media reaches the widest, most sought-after audience – people with influence, who set agendas, and make impactful decisions. And while social posts certainly can go “viral,” their shelf-life is limited, and you have a greater chance of losing control of a message as commentary piles up through shares and re-posts. Social strategies work best in tandem with solid earned media plans.

Relationship development: Cultivating a mutually beneficial relationship with a reporter or editor opens up opportunities for additional earned media down the road. If they already know you, beat reporters are more likely to call you for perspective or a quote in the future.

Your competition: Even if you don’t think an earned strategy is worth time or money, I guarantee your competitors do. If they’re getting more traction on social, or if they deftly handle an existential business crisis, it’s likely because they had a well-thought-out earned strategy and have cultivated relationships in the right places.

It’s probably too much to expect the media market to ever “stabilize” in a way that some of us nostalgically remember it. (Truth: it wasn’t stable then either.) But there will always be an audience that will pay for well-reported and well-written news, and there will always be media organizations who will deliver it to them.

Chances are, that’s the audience you want to reach.