Disclosure: The views and opinions expressed herein are solely those of the authors and do not represent the views and opinions of crypto.news editorial.
The media is facing a major crisis due to drastic layoffs and declining viewer ratings. Much of that audience has shifted to social media influencers like TikTokers and YouTubers, who amass huge followings and influence everything from consumer habits to political decision-making.
This trend is especially evident among Gen Z, who show little interest in traditional news sources. Instead, they prefer fast-paced, bite-sized content from influencers.
Are legacy media dying? What should the industry, including PR, do to adapt to this new reality? Are influencers really in charge, or are they traditionally Does it have the potential to completely replace media?
Tough days for global media
More than 8,000 journalists were made redundant in the UK, US and Canada last year, according to the Press Gazette. This trend continued until 2024, with layoffs affecting not only startups but also major media outlets such as Vice, CNN, and the Wall Street Journal.
Moreover, these cuts are not just a response to temporary economic hardship, but represent a deeper shift in the way people consume information. The reality is that many traditional news organizations are struggling to remain profitable as advertising revenues decline and audiences shift to digital platforms.
Encrypted media is not immune. Last year, The Block laid off a third of its staff following a leadership shakeup, and CoinDesk followed suit, cutting 45% of its editorial team. The acquisition of The Block by Foresight Ventures and CoinDesk by Bullish marks a transformational period for both platforms with ambitious plans for global expansion and entry into new markets. The merger of crypto publishing companies Forkast and CryptoSlam in 2023 highlighted further changes in media consolidation and evolution.
Media companies are also reinventing their platforms, adding community sections and creating specialized newsletters for journalists and specific topics to increase engagement. In response to these changes, media companies are searching for new monetization strategies. For example, Cointelegraph and The Recursive have launched their own marketing agencies.
Can influencers be effective without following editorial standards?
While the media is struggling, influencers seem to be thriving, rapidly gaining millions of followers and shaping public opinion on everything from consumer behavior to political outcomes. There is. But here’s the problem. Do they really have an impact, or are they just amplifying the noise?
Michal Malewitz’s article argues that as the influencer ecosystem leans toward engagement farming, meaningful influence is replaced by shallow interactions, and real influence is called into question. I’m emphasizing it. Influencers were originally intended to inspire and shape opinions. But as the ecosystem evolves into an engagement farming loop, smaller influencers will follow larger influencers not for inspiration, but to leverage broader influence. .
As a PR professional, I am convinced of this trend. Increasingly, we choose influencers based on the followers they attract, rather than the number of subscribers they have. We prioritize influential people who have a significant impact on the industry, such as editors-in-chief of major publications and business leaders.
The focus on algorithm-driven engagement has given way to shallow interactions for influencers that only garner short-term attention, thereby undermining trust in the influencer economy.
New Federal Trade Commission regulations cracking down on fake likes and followers target those who use bots and other deceptive methods to establish a presence, highlighting the risks associated with this model I’m doing it. This means influencers who rely on inflated metrics are now under increased scrutiny.
Of particular interest is that this regulation likely marks the beginning of a broader trend of demarcation in digital spaces.
As AI is deeply integrated into content creation, AI-generated influencers pose complex questions about trustworthiness and trustworthiness. As the lines between authentic and manufactured content are blurring, establishing an ethical framework for digital platforms has become essential.
The PR field needs to rethink how it measures success. Rather than just focusing on the number of followers, you should consider the depth of engagement and the trust the influencer has built with their audience.
Media isn’t dead, it’s evolving.
Every time a new communication platform emerges, the demise of legacy media is predicted. We heard such claims when radio, television and the internet came along, and now they’re resurfacing with the rise of social media influencers.
Yet, we still read newspapers, watch television, and visit news websites.
There is no doubt that traditional media faces challenges, but that doesn’t mean they will become obsolete. To take back control, some journalists are taking matters into their own hands by forming cooperatives or collectives. Outlets like Hell Gate and Defector offer subscription-based models that value loyalty and community over ad revenue, proving that quality journalism still exists.
Media representatives from VentureBeat, Crypto.news, Invezz, NBC news, Tech.eu, Euronews, hedge fund reporters, AMB Crypto, Decrypt, Digital Frontier, and Bankless Times participated in the vote. Established media organizations work with influencers to benefit from large audiences. NBCUniversal’s collaboration with TikTok and YouTube influencers to cover the Summer Olympics is a great example of how media can evolve. These partnerships allow traditional retailers to stay relevant while adapting to new consumption patterns.
Future: High-quality content will become mainstream
At the end of the day, the future of media and influencers depends on the quality of the content they produce. In an age where attention spans are short and the lure of viral, instant hit content is strong, those who prioritize depth, authenticity, and meaningful storytelling will survive.
As PR professionals, we need to be mindful of the stories we support. Collaborating with influencers can produce great results, but only if you intentionally work with people who prioritize quality over quantity.
Traditional media maintains an important role, especially when it comes to investigative reporting and editorial oversight, an area that even the most popular influencers cannot compete with.
Going forward, we need to ask ourselves: “What stories are we promoting?” Are they really worth the attention? At the end of the day, it’s not the platform or popularity that matters, but the content of the message and our sense of responsibility.
