Hearts & Minds: How much longer will traditional media dominate serious discussion?

The most consequential news for the media last year was Donald Trump’s election triumph. Not the fact he won but the manner of his winning. It was built on eschewing mainstream media for podcasts and online creator-led content by Joe Rogan, the Nelk Boys and Aidan Ross, all singled out for praise from the platform at his victory party. Put that against a background of further industry lay-offs, consolidations, sales and closures, and the future is clear – and it does not involve ‘legacy’ media as it’s increasingly and dismissively termed.

Joining the shift to digital is Piers Morgan, who once bestrode the traditional press but has bought out his ‘Uncensored’ YouTube channel from Rupert Murdoch. He aims to develop a broader franchise, bringing in other presenters, creating new podcasts and going live, building on his existing base of 3.6m subscribers and up to 20m viewers for his most popular shows. Here’s the nub: more than three-quarters is under 45 and more than half in the US. This, for someone who edited two Fleet Street newspapers and was little known outside the UK. It’s true he had his own prime time interview show in the US but that was a while ago and it was unlikely to have been watched by most of his YouTube devotees.

The data points in one direction. Soon, YouTube will become the preferred way Americans watch television. More people viewed the US election on YouTube for results, analysis and opinions than via cable or broadcast. The same is happening in print. The tide is turning or may have already turned.

For now, legacy still dominates serious discussion about politics, social affairs, national and world events, the arts, business and economic news. But for how long?

CEOs and their comms teams have a dilemma: to favour one over the other or ride them both. Choosing the first is not the answer, not if you want to reach as many people across the broadest age range as possible. At present, the audience is segmented. That will alter with time. To hit older folk go to legacy; for younger select online. It used to be assumed that legacy was for serious people and digital therefore did not count. Not anymore. Kamala Harris made that mistake and look where it got her. The bigger numbers, loudest voice and greatest influence, are heading online. It remains a two-horse race, but one horse is tiring.

Chris Blackhurst is one of the UK’s foremost business journalists. He was previously Editor of The Independent and City Editor of the Evening Standard.