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1
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· Posted on
February 21, 2024

News Corp Australia checks out of news and into your shopping cart with its new e-commerce play

News Corp Australia is branching out by launching a new shopping content hub.

What's the key learning?

  • News Corp is shifting from media brand to online marketer and now e-commerce brand.
  • When news advertising doesn't pay the bills as much as it once did, publishers need to leverage their readers' trust in new ways.
  • Large media brands are capitalising on their trust to expand their offerings in a time where the industry is facing decline.

👉 Background: News Corp Australia is the media empire majority owned by the Murdochs. We're talking the Herald Sun, The Australian, Foxtel, and news.com.au, which supposedly reaches one in two Aussies every month.

👉 What happened: In August, News Corp announced a 75% drop in net profits over last financial year. So now, News Corp Australia is branching out by launching a new shopping content hub. It's an online shopping site with product reviews and recommendations.

👉 What else: News Corp will take an affiliate clip when their millions of readers purchase one of the recommended products. So, it seems that News Corp is shifting from media brand to online marketer and now e-commerce brand.

What's the key learning?

💡For hundreds of years, media outlets have leveraged their readers' trust to deliver the news. But when news advertising doesn't pay the bills as much as it once did, publishers need to leverage this trust in new ways.

💡Large media brands are capitalising on their trust to expand their offerings in a time where the industry is facing decline.

💡And News Corp isn't alone. We've also seen this move from other media outlets, especially in the US: The New York Times and CNN build their own e-commerce businesses off the back of their trust.

‍

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