The newspaper industry body has today unveiled a “world-first partnership” with SMI, which aims to provide a complete picture of the ad dollars invested in news media companies.
The announcement sees the launch of the News Media Index (NMI), which sees SMI combine newspaper bookings from media agencies with bookings done direct from clients. Previously, SMI data just relied upon media agency bookings.
SMI managing director of Australia and New Zealand Jane Schulze tells AdNews it is estimated direct sales add more than $1 billion in revenue to the annual print amount, which would be $2.4 billion in advertising revenue in 2015.
The announcement also saw The Newspaper Works, change its name to NewsMediaWorks, with chairman of the body, Michael Miller, saying the partnership and name change reasserts the leadership of the news media sector with its breadth of audience and unique, influential content.
This new quarterly News Media Index (NMI) for advertising revenue will reveal all print and digital revenue, as well as whole-of-industry revenue.
The revenue data is taken from NewsMediaWorks’ foundation members, News Corp Australia, Fairfax Media, West Australian Newspapers and APN News & Media, who represent approximately 90% of the news media sector. SMI extracts the information directly from publisher financial systems.
“The News Media Index is the most accurate reporting of the healthy viability of the news media industry,” Miller says. “It responds to requests of advertisers and investors to reveal that the Australian news media sector has been significantly undervalued by independent analysts. It confirms the uniqueness and value of news media brands as successful business partners.”
SMI Australia and New Zealand managing director Jane Schulze says: "NewsMediaWorks has set the standard for ad spend measurement.
"It is the first media industry organisation in the world to partner with SMI to deliver accurate reporting of revenue across print and digital media. This is highly valued by advertisers who want to invest with confidence in a media sector. Eventually, all traditional media will have to follow its lead and also report revenues obtained from commercialising their content online."
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