Futurecasting: A way to grow revenue and broader market opportunities for news companies

It’s easy to think there’s not much time to consider the future beyond a year, especially since so much of today’s career and job duties are about the now.

I know the life of editors and reporters all too well; I lived that for a decade. The 24-hour cycle of news, constant chatter of social media, news tips and staff shortages mixed with the desire to produce the best journalism to help one’s community … it’s a lot.

And for those on the business side of journalism, I understand those pressures, too, after working seven years to grow revenue at two news companies. We always need more clients to help support the mission. The constant prospecting, networking and selling of a potential client on how your organization’s media products or marketing solutions never stops. The days are long, the compliments are few and the stress is high for both sides of the business.

However, futurecasting, which is based on signals, trends and observing various industries to see how they can converge for various possible outcomes, offers us an opportunity think beyond the current horizon.

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Ebony Reed  
 
Director of Innovation and the RJI Futures Lab

Ebony Reed is New Audiences Chief at the Wall Street Journal. Prior to joining the Journal, she was director of innovation at RJI.