Damian Eales is the president of INMA (International News Media Association) and the COO of News Corp Australia. He delivered a speech on the role of INMA in the Australian context, as well as his work helping News Corp to develop a sustainable business model for the future of its journalism.
“The onus is on us to ensure that we create content that is worth paying for,” he said.
“I can see a new world of data that is empowering our journalists across the world to deliver on the wants and needs of their audiences, and increasingly, their subscribers.”
News brands, he said, need to demonstrate to brands “the value of highly-engaged customers.”
“To any advertisers in the room, you may be underestimating the power of local news.”
On the topic of specific revenue models, Eales said, “The journalism of our future will increasingly be consumer-funded, and that this why trust has never been more important.”
“We respect the fact that trust is hard to earn and easy to lose.”