Before the
pandemic, most consumers got their news from free media sites such as Facebook,
Twitter, or Reddit. Consumers had a lot of trust in media sites, but that has
since changed. The pandemic has brought about a lot of misinformation,
conspiracy theories, and fake news. This has caused an increase in consumers'
willingness to pay for news, since they are now searching for reliable news.
Trust in the
news media has declined rapidly over the last seven months. Consumers believe
that journalists no longer see themselves as seekers of facts. According to a
study by Gallup,
54 percent of consumers believe that reports intentionally misinterpret facts,
while 28 percent believe reporters make up facts entirely.
Recently,
more publishers have added paywalls because consumers are willing to pay for
legitimate news now. According to a survey from Altman Solon, 30 percent said
they are willing to pay for well-researched and reliable news since the
pandemic. Altman Solon has found that willingness to pay for news is more
pronounced with young adults. Among the people of the ages 18-24, 53 percent
say that they are interested in paying for news, but only 15 percent of people
ages 55 and older are interested in paying for news. Even once things normalize
slightly, it has been found that 82 percent of Americans will nonetheless continue
to pay for reliable news.
