Last week, operators from some of the country’s biggest publishers came together in part to discuss the thorniest topics in the industry, asking such titillating, terrifying questions as: What’s happening with search? How do we make money with live events? When will media M&A be back? How should we be using AI? Are we going to be OK? (Fine, nobody asked that last one out loud.)
The brightest people in the industry spoke candidly about the challenges content-based businesses face—and the strategies, products, and technology they’re using to flourish in the face of breakneck consumer trend cycles. Refact, the agency that helps publishers execute technical projects and also publishes Media Tech Report, was there as a presenting partner, taking notes on how publishers can use tech not only to withstand headwinds, but also to move their businesses forward with optimism and confidence.
Below, we’ve distilled the conference into three technical action items for publishers.
Be curious about AI
With one of the largest news operations in the world (The New York Times) gearing up to litigate against no less than three generative AI companies (OpenAI, Microsoft CoPilot, Perplexity) it’s easy for publishers to see AI as an adversary. But speakers and attendees at the 2024 AMO Summit emphasized the tech’s value outside the obvious, controversial approach of (for example) creating content under fake authors.
Dan Shipper, the co-founder of Every, said there’s “a lot empowering” about AI. It can make individuals more efficient and productive, helping remove “junky work” (like tagging articles) from the editorial flow. “What AI starts to reveal about creative work is how much repetitive drudgery there is.”
The first step for publishers looking to integrate AI? Apartment Therapy’s Vijay Nathan put it simply: “You have to be curious” and find other early-adopter types with which to experiment. Apartment Therapy created a cross-functional group of pros from product, engineering, and editorial with the loose mission to define the brand’s AI strategy. If you want to be smarter about how your company works with AI, “you need to talk to more people about [it]. Get the ball rolling.”
As for what exciting genAI opportunities float just beyond the horizon, Shipper suggested how AI might change what content formats are available. “The article is just one part of a long process that includes sourcing information,” he said. “AI can make that [unused] reporting discoverable. When we do a big article, we can put a button or a bot that lets readers look at all the sources we used and ask questions about it.”
For what it’s worth, Refact is excited about this precise opportunity—so much so that we are in the early phases of creating a product that easily parses content from walled-off publisher databases building out chatbots for publishers’ premium members. This allows publishers to monetize their content using AI in a controlled way, without giving over copyrighted materials for AI to use as they please. Interested in being a beta user? Email us.
Clean up your content and tech
In the opening program of the day, Allison Murphy, the Chief Operating Officer at Axios, noted that the industry has less time to react to major consumer behavior or monetization shifts. “[Before] you’d have 2-3 years of transformation; we had that time to react to the latest from Google or to pivot to video,” she said. “It’s no longer 2-3 years. It’s 2-3 weeks.” It’s more important than ever to “have a clear strategy and make decisions quickly.”
For publishers, succeeding in this environment is not only about prioritizing the products and experiences that have the highest value, but also about ensuring your technical infrastructure facilitates fast, data-backed decision-making and quick changes from one approach to the next.
Refact’s CEO Saeed Abbaspour spoke with Flexpress CEO Ajay Rayasam about the importance of clean technical infrastructure, particularly when it comes to proving value for potential buyers. After all, a well-organized content library, lightning fast load times, consistent branding, and a well-maintained network of monetization and distribution partners make acquisition transitions less expensive, and the media asset more agile.
Good technology—made possible with project partners like Refact—means content-based businesses are better prepared to respond quickly to business opportunities, not to mention scale revenue generators and accommodate ever-shifting consumer behaviors.
Seriously consider in-person events
On the schedule, the topic of live events filled 25 minutes of the 9-hour day. But nearly every speaker at the 2024 AMO Summit emphasized their value to media companies. Live events engage audiences, boost the brand, excite partners, and (crucially) bring in revenue from ticket sales and sponsorships.
For the experts on the designated live events panel, the value of an in-person gathering isn’t the speakers—it’s the community. “Post-COVID, networking matters more than content,” Matt Middleton, CEO of Future Proof, mentioned. Publishers should “create events, not courses.”
Scarlett Sieber, the Chief Strategy and Growth Officer at Money 20/20 also emphasized the importance of “short, no-fluff, no-filler” programming “that sparks conversations off-stage.”
Eric Newcomer, the founder of startup and venture capital newsletter Newcomer, also mentioned a clear “trend of people wanting to connect.” Newcomer says this year premium memberships are pretty flat, though free subscribers are growing. He says themed events “feel like an easy way to get people to pay,” adding that the media brand is “leaning into what’s easy and what people are enthusiastic about.”
If you’re looking to move into live events, consider Refact as an execution partner. As a projects-based engineering agency, we build landing pages and cross-site promotional blocks, integrate with ticketing and payment processing partners, and manage CRMs and newsletter pipelines for attendee data management. Contact us; we’d love to get started.
