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This paper sheds light on the distinctive nature of entrepreneurial-oriented behaviours in news media firms by: (1) reconsidering conceptualisations of exploitation and exploration in the industry in order to provide further clarity to Organisational Ambidexterity (OA) measures; (2) offering a multidimensional construct for success of innovations that combines both objective and perceptual measures to allow direct comparisons; (3) drawing on data from a longitudinal study into the decision making of news media executives worldwide that provides historical and industry contexts; and (4) testing whether there are significant differences between the OA priorities of leaders at firms that report successes versus those who report poor performances. The investigation draws on the statistical analysis of original data collected from 1438 individuals in 107 countries. Though the results are based on a large sample, there still are limitations to the research, since the sample was self-selected, and the analysis methodology cross-sectional. However, objectivity was ensured through rigorous quantitative analysis, based upon strict significance testing. This study provides alternative definitions of exploitation and exploration and tests the relationships between them and the performance of news media firms. In so doing, it answers both the specific appeal for greater clarity of OA measures, as well as calls to test and expand existing theory in various contexts, and to develop theory that is directly pertinent to media management science., Nordic Journal of Media Management, Vol 1 No 1 (2020)

Highlights from this year's report:\ud \ud News media’s conundrum: This year’s research and data bear out the paradox within our industry. With global revenues (-3% YoY, print & digital) and (especially newsroom) resources continuing to shrink, the business challenges facing publishers are palpable. However, quality news has never been in more demand than today, reflected in the growth of paying audiences for news content (+0.5% YoY).\ud \ud The Subscription Economy: Paying news audiences – print and digital – rose to 640 million per day in 2018, fuelled primarily by the continued strategy and growth in getting readers to convert to digital subscribers (up 11% YoY). Digital news subscriber numbers worldwide have increased 208% over five years to 2018 and are expected to grow by a further 13% in 2019. Nearly 54% of newspapers’ overall revenue comes from circulation sales, up 1% YoY but forecast down 2% for 2019 as prices come under pressure.\ud \ud Print still paying the bills: Despite much of the focus on digital transformation, we estimate that print revenues still account for about 86 percent of news publishers’ revenue. In 2018 print circulation declined only 1 percent globally. Naturally, that picture varies from region to region and from country to country. For the most part, however, print advertising continues its steep decline (-7% YoY).Paid circulation (in millions)\ud Paid circulation (in millions)\ud \ud That other conundrum – tech giants: Google continues to be the most important traffic source for news media companies globally, accounting for two out of every three page views from the leading global technology companies, according to our analysis of data from Chartbeat. Worldwide, Google provides 25 times the traffic for publishers that Twitter does and almost two and a half times what Facebook does. Yet the relationship with tech platforms remains tenuous if at times hopeful.\ud \ud The power of a free and independent press: This year’s World Press Trends also offers robust statistical evidence that shows direct and strong relationships between a free and independent press and factors that indicate the strength of democracies, the health of societies, as well as both the wealth of nations and the fortunes of its people.

Leading a news media business has never been simple, but success in today’s increasingly turbulent and competitive environment requires entrepreneurial leadership distinct from other behavioural forms of leadership. This paper reflects on both entrepreneurship and leadership in order to develop a construct of entrepreneurial leadership in the context of the contemporary news media industry. Then, drawing on original data collected through the 21-question World Newsmedia Innovation Study conducted in 11 languages, it considers the relationship between the the firm’s entrepreneurial orientation and the perceived performance of the organisation’s leadership. Findings provide insights into how entrepreneurial leaders influence perceptions of organisational culture and future success. It also suggests that news media CEOs have work to do to gain the confidence of their staff, including their executive teams.

Leaders of news media firms worldwide are pressured to innovate. To keep on keeping on the same track, while technology platforms evolve, advertisers’ options increase and audience preferences change around you, is not a realistic option. But shifting focus carries significant risks, and the rewards are uncertain. Deciding what to change and how to go about changing it is certainly not straightforward. So, just how are news media managers tackling the challenge? To find answers, the Innovation Research Group and WAN-IFRA again surveyed executives at member organisations in 10 languages. Responses to the 7th annual study conducted over the third quarter of 2016 came from nearly 250 decision-makers in 65 countries across six continents. The majority (82 per cent) are at organisations that are in private hands, while 6 per cent worked in government-owned media firms and 4 per cent were in public service organisations without direct political control.\ud By far the largest group of respondents, 43 per cent, sit in C-suites, serve on boards, or own their companies. Other responses came from editorial, commercial, and technology managers, as well as from a very small number (2 per cent) of consultants and academics (the methodology is detailed below).\ud Whatever their company profile, however, they are involved, and wherever they are based, most of those surveyed agree that the single biggest risk to their organisation’s success is not the loss of advertising revenues – though 65 per cent report traditional advertising income declines and many fret about their financial futures. “Not diversifying our revenue sources from the traditional print advertising into TV and digital advertising models,” said an editorial manager from Kenya. “Business Model sustainability over the next years,” is the biggest concern of a senior executive from Brazil. Technology platforms aren’t the respondents’ primarily worry either – though they are troubled by the power search and social media companies have on how content is discovered, as well as the roles of platforms and advertising exchanges in how income is delivered. “Where people consume news – social media/ other web,” was the top concern of an editorial manager from the United Kingdom. “Loss local advertising to Google & Co.,” said a top manager from Germany. Political instability isn’t their No 1 concern either – though some fear the actions of elected and unelected politicians. “Political polarization,” said an editorial manager from Malta. “Prosecution for criticizing the government,” said an editorial manager from Russia. “Brexit,” said a technology manager from the United Kingdom. Indeed, the respondents to this year’s survey do not see any single external factor as posing the greatest threat to their businesses. Instead, they are most anxious about what was going on inside their organisations. News media executives worldwide say the single biggest risk to their future success is this: their organisation’s reluctance to innovate. “Habits [are] changing faster than we can innovate,” answered an editorial executive from the United States. “The biggest risk is that senior management does not make decisions quickly,” said an editorial manager from Bolivia. They are right to be concerned.\ud Our study participants expect that their firms will need to radically change their business models if they are to meet future expectations. And there is no time to waste. Seventy per cent say that over the next 12 months up to 30 per cent of their income should come from non-traditional media activities (i.e. other than content sales and advertising) if they are to reach their financial goals. That figure flips exactly when we asked for their medium-term outlook. Seven out of 10 respondents expect that over the next five years more than 30 per cent of their firm's income will need to come from diverse revenue streams if they are to be successful.

CONTEXT\ud UNESCO and others concerned with the sustainability of the news media worldwide have recognised that if this issue is to be managed, it needs to be measured and monitored. Over the last three years, several frameworks for media viability indicators have been proposed. However, calls for their implementation have not been answered - until now. This document reports on the construction and operationalisation of a proposed annual Media Sustainability Barometer (MSB). The MSB is a quantitative index offered as a tool to both measure and monitor the media ecosystem, in terms of its sustainability across key contributing forces - and much more. This tool has the power to model how changes in the ecosystem impact on media sustainability in specific countries or blocs, and also to estimate how the media environment impacts on other spheres of society, including those identified in the UN Sustainable Development Goals. As such, it addresses the gap in existing initiatives, by bringing together mixed-source media viability indices proposed by UNESCO, Deutsche Welle Akademie and others, into one objectively derived quantitative index. In doing so, it offers the opportunity to analyse and understand the complex dynamics amongst spheres of society that shape, and are shaped by, a sustainable, pluralistic and diverse media sector. \ud \ud KEY FINDINGS: This pilot study into factors shaping the sustainability of the UK media in the context of the G7 bloc of highly industrialised nations noted that the single biggest influence was the political environment as indicated by World Bank databases on control of corruption; political stability; strength of governance; voice and accountability; and regulatory quality. In other words, the more stable the political situation in a country, the more sustainable the media. Of the components of this factor, the element which makes the most significant contribution to the political environment is regulatory quality. Almost as significant, as an influence on media sustainability, is the environment in which the media operate - specifically press freedom; trust in the media, journalists and platforms; innovation; journalistic autonomy, influence and advocacy and plurality. This emphasises the need for greater scrutiny of policy and regulation across the range of environments - direct media policies, certainly, but also related policies on economics, justice, technology and social inclusivity, which all impact on media sustainability.\ud \ud EVALUATION: This pilot study demonstrates that the MSB can model a range of factors that contribute to the sustainability of the media - in any one country, group or region - in any one year, or as an analysis of trends over time. The MSB is constructed using globally indexed data and expert panel survey contributions, and is represented as a) separate indices for each country and region, for a large range of relevant variables, b) a single MSB index for 264 countries, plus regions and World Bank Territories, and c) aggregated factors that contribute to the overall MSB. In particular, it seeks to address the gap in existing media viability indices by modelling underlying contextual factors, such as the economic, political, legal, social, technological and digital environments that impact on the media. Using the statistical technique of structural equation modelling, individual measured variables are modelled into latent constructs, which then estimate statistically the predictive relationships between different aspects of the media sustainability ecosystem. \ud \ud CONCLUSIONS: In this pilot, we explain how the MSB has been created and how to use it to explore media sustainability in the UK, in the context of the G7 and the BRICS blocs, but stress that it can be used to model media sustainability for any country, region, geographic or economic group. We demonstrate how the MSB can be used to model the media sustainability ecosystem by offering relevant examples created using the new index. The initial findings provide some early headline measures that could be used to understand how and where current international and national contexts, and potential interventions, can or do make a difference to media sustainability. Similarly, our early findings suggest opportunities to consider media sustainability efforts as a means to shape other areas of national, and international, public life. Developed by the Innovation Research Group (IRG), in collaboration with the Global Forum for Media Development (GFMD) and with further support from the Google News Initiative, the MSB offers the opportunity to address the existing shortcomings in the objective measurement and monitoring of the media environment, with a view to helping those acting in these areas do so with better information. \ud \ud WIDER RECOMMENDATIONS: This pilot study shows that media and communications policies are central to many of the social and political issues societies face today. In doing so, it invites questions about whether policies pursued in the past are ft to respond to rapid changes and complexities of contemporary social and digital contexts. It suggests the need for a companion benchmarking study to understand and evaluate the current state of media policy within and across countries and regions, in order to identify best practice and to shed light on areas and means of performance improvement.