Developing new revenue streams was listed as the top priority for digital publishers, according to new research by The Association of Online Publishers (AOP).
The AOP surveyed publishers as part of its study Digital Publishing: Meeting the Future.
Those surveyed listed their priorities for this year as: developing new revenue streams through product innovation, data privacy compliance and transparency, recruiting and retaining talent, ensuring a diverse and inclusive workplace and developing new first-party data strategies.
These priorities differed slightly between b2b and b2c publishers with first-party data strategies ranking as less important for b2b publishers.
Investment and diversifying revenue streams
The study revealed publishers saw new revenue streams as “a greater opportunity over the next three years” than advertising.
55% of publishers said subscriptions had the biggest potential for growth in the next three years, 33% listed lead generation, 31% mentioned audio, podcasts and internet radio and 20% said display advertising.
Investment in audience data remained on publishers’ radar as three quarters of those in the survey said they were working to ensure insights from audience data informed every decision across the organisation and were investing in tools for this purpose.
However, only 17% said all their teams were aligned internally around audience data.
‘Broadly optimistic’ about cookie plans
Digital publishers were also found to be “broadly optimistic” about their plans for the demise of the cookie as those surveyed rated their confidence levels about their plans at 6.5 out of 10.
20% of the publishers said they were already collaborating with other publishers on alternative data initiatives, while 16% were discussing collaboration and 40% were open to the possibility of collaboration.
Richard Reeves, managing director at AOP, said: “We already know that publishers have successfully weaned themselves off a sole reliance on advertising and continue to focus on new and alternative revenue streams, which is mirrored in the findings.
“The survey also presents a real snapshot into how publishers are feeling in anticipation of the demise of third-party cookies. Confidence levels are broadly optimistic, with publishers realising that the year ahead heralds a new era, where they can begin to truly harness their unique understanding of their audiences,” he added.
The study included 111 respondents, both publishers and organisations involved in publishing solutions.
