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Media is facing a major crisis, with substantial staff cuts and declining viewership rates. Much of the audience has shifted to social media influencers, like TikTokers and YouTubers, who are amassing huge followings and impacting everything from consumer habits to political decision-making.
This trend is particularly evident among Generation Z, who show little interest in traditional news sources. Instead, they favor fast-paced, bite-sized content from influencers.
Is legacy media dying, and what should industries, including PR, do to adapt to this new reality? Are influencers truly taking the lead, and do they have the potential to fully replace traditional media?
Tough days for global media
Last year, over 8,000 journalists in the United Kingdom, the United States, and Canada were let go, according to the Press Gazette. The trend continued into 2024, with layoffs affecting not only startups but also media giants like Vice, CNN, and The Wall Street Journal.
Moreover, these cuts are not just a response to temporary economic hardship—they symbolize a deeper transformation in how people consume information. The reality is that many traditional news outlets are struggling to remain profitable as advertising revenues dwindle and audiences shift to digital platforms.
Crypto media hasn’t been spared, either. Last year, The Block laid off a third of its staff after a leadership shakeup, and CoinDesk followed the trend by cutting 45% of its editorial team. The acquisitions of The Block by Foresight Ventures and CoinDesk by Bullish signify a transformative period for both platforms, with ambitious plans for global expansion and entering new markets. The merger of crypto publication Forkast and CryptoSlam in 2023 underscored yet another shift in the consolidation and evolution of media.
Media outlets are also restructuring their platforms by adding community sections and creating specialized newsletters for journalists or specific topics to boost engagement. Along with these changes, media outlets have been exploring new monetization strategies. For instance, Cointelegraph and The Recursive have launched their own marketing agencies.
Can influencers be effective without adhering to editorial standards?
While media outlets struggle, influencers seem to be thriving, rapidly gaining millions of followers and shaping public opinion on everything from consumer behavior to political outcomes. But here’s the twist: Are they genuinely influencing or just amplifying the noise?
Michal Malewicz’s article highlights that, as the influencer ecosystem is leaning towards engagement farming, meaningful influence is being replaced by shallow interactions, casting doubt on their actual impact. Influencers were originally intended to inspire and shape opinions. However, with the ecosystem devolving into a loop of engagement farming, smaller influencers follow larger ones not for inspiration but to leverage their broader reach.
As a PR specialist, I can confirm this trend. We’re increasingly selecting influencers not based on subscriber count but on the followers they attract. We prioritize those followed by influential figures, such as chief editors of major publications and business leaders, who have a significant impact on their industries.
By focusing on algorithmic-driven engagement, influencers are giving way to shallow interactions that only manage to capture fleeting attention, thereby undermining trust in the influencer economy.
The new Federal Trade Commission regulation cracking down on fake likes and followers emphasizes the risks associated with this model, targeting those using bots or other inauthentic methods to inflate their presence. In short, influencers relying on inflated metrics are now under scrutiny.
What’s particularly interesting is that this regulation likely marks the beginning of a broader trend of boundary-setting in digital spaces.
With AI now deeply integrated into content creation, AI-generated influencers raise complex questions about authenticity and trust. The lines between real and manufactured content blur, so establishing ethical frameworks for digital platforms becomes essential.
In the PR space, we’ll need to rethink how we measure success. Instead of focusing solely on follower counts, we’ll need to consider the depth of engagement and the trust influencers have built with their audience.
Media isn’t dying, it’s evolving
Whenever a new communication platform comes into play, there are predictions of the demise of legacy media. We heard such claims when radio, TV, and the internet arrived, and now, they have resurfaced with the rise of social media influencers.
Yet, here we are—still reading newspapers, still watching TV, and still visiting news websites.
While traditional media undoubtedly faces challenges, it is far from becoming obsolete. Some journalists take matters into their own hands by forming cooperatives and collectives to regain control of their craft. Outlets like Hell Gate and Defector offer subscription-based models that emphasize loyalty and community over ad revenue, proving that quality journalism still has a place.
Representatives from the following media outlets participated in the voting: VentureBeat, Crypto.news, Invezz, NBC news, Tech.eu, Euronews, Hedge Fund reporter, AMB Crypto, Decrypt, Digital Frontier, Bankless Times. Established media organizations team up with influencers to benefit from their massive audiences. NBCUniversal’s collaboration with TikTok and YouTube influencers to cover the Summer Olympics is a prime example of how media can evolve. These partnerships help legacy outlets stay relevant while adapting to new consumption patterns.
Moving forward: High-quality content will dominate
Ultimately, the future of both media and influencers will depend on the quality of the content they produce. In an age where attention spans are brief and the lure of viral, quick-hit content is strong, those who prioritize depth, authenticity, and meaningful storytelling will be the ones to last.
As PR professionals, we should be mindful of the narratives we endorse. Collaborating with influencers can yield great results, but only if we’re deliberate about working with those who prioritize quality over quantity.
Traditional media retains its vital role, especially when it comes to investigative journalism and editorial oversight—areas that influencers, no matter how popular, cannot match.
Moving forward, we need to ask ourselves: What stories are we promoting? Are they truly worth the attention they get? In the end, it’s not the platform or popularity that matters but the substance of the message and our sense of responsibility.
