Citing Demand, Publishers Are Launching Economic Explainers

As the U.S. economy grows more volatile, publishers have responded to rising demand for explanatory reporting by launching new editorial initiatives designed to help readers navigate the financial landscape. Some, like The Washington Post, Barron’s and MarketWatch, have debuted new products that examine issues like inflation, rising gas prices and market irregularity. Others, like The Wall Street Journal, Vox Media and Morning Brew, have increased or tailored their existing coverage to better address the newly pressing subjects. By doing so, the publishers reap several benefits, including tapping into a keen source of demand and pitching marketers on the ensuing engagement––Morgan Stanley sponsored the economic explainer series from The Post. They also create an opportunity to reach audiences that do not typically frequent financial websites, said Washington Post deputy business editor Damian Paletta, giving the publishers an inroad into new readerships. Publishers’ Affiliate Revenues Are Flagging—These 4 Charts Show Why “When the Fed raises interest rates, we need a traditional story for that, but that can’t be it,” Paletta said. “We are trying to be as dynamic as possible and present readers with information in different ways, especially visuals that can attract audiences that might avoid an article with the word ‘Fed’ in the title.” The explanatory reporting comes as publishers themselves begin to prepare for an economic squeeze. Media companies, including Outside Inc., Food52 and Insider have announced layoffs or hiring freezes, despite mixed messages from marketers about their spending forecasts. By creating products that cement them as indispensable sources of financial news, business publishers have an opportunity to strengthen their value to readers at a critical juncture. Responding to heightened demand with new products A number of publishers began to anticipate a heightened demand for personal finance content beginning in March, when the Federal Reserve announced it planned to raise interest rates in an effort to curb inflation. According to content recommendation company Taboola, articles about budgeting have seen a readership increase of 653% over the past 45 days, while personal finance content has seen a 256% increase. In May, financial publisher CNBC saw its two core sections, Homepage and Quote, experience their second-best month since March 2021. An article sharing advice from Warren Buffett about investing during periods of volatility also became its second-highest performing piece for the month. The Washington Post released the first article in its new series, called Econ 101, on March 16, coinciding with the news from the Fed. The article features an illustration of a woman holding a red balloon, which represents inflation; as the reader scrolls, explanatory text accompanies the scene. The imagery was created by the artist Anna Hrachovec, who knit the figures by hand, before the tableau was animated by the Washington Post visuals team. The publisher followed the article with a second piece, this one exploring the cause of rising gas prices. The article saw immediate traction: it generated three times more traffic than typical business articles—and nearly half of its readership has come from search, according to the publisher. The success of the evergreen pieces prompted the publisher to commission two additional special assignments, the first of which will publish in August. Likewise, two Dow Jones titles, Barron’s and MarketWatch, have also introduced new tools and editorial packages to inform readers. In May, Barron’s launched an interactive tool for measuring how inflation will affect individuals based on their spending—and MarketWatch launched a column, called the Human Cost, which explores the toll that financial events like the cryptocurrency crash and stock market downturn have taken on retail investors. In September, MarketWatch will extend the effort to the world of events, when it launches its first-ever Best New Ideas in Money Festival in September, which aims to demystify market volatility and provide tools for investors. Expanding and promoting existing products Rather than launch entirely new products, some publishers have retooled existing ones to meet the needs of the moment. Morning Brew, which built its media empire by gearing financial coverage toward a younger audience, has used its vertical Money Scoop to explore how consumers can more wisely manage their money amidst the uncertain market. The Wall Street Journal Grew Digital Subscriptions 19% to 2.9 Million At Vox Media, the publisher has devoted more focus to personal finance in its new section Even Better, which launched in June. And in a twice-monthly column called The Big Squeeze that interrogates capitalism, journalist Emily Stewart has shifted more attention in recent months to issues of personal finance, according to the publisher. The Wall Street Journal, which has responded to the market volatility by increasing its coverage of personal finance, launched a marketing campaign designed to highlight its utility in moments of economic uncertainty, according to the publisher. The campaign, which debuted in June, will run on Twitter, Reddit, Facebook, Instagram and other channels–– and it underscores the ability of The Journal to “connect the dots.” “On one level, of course, [financial reporting] is what we do every day and across all our coverage––in markets, personal finance, tech, health––really everywhere,” said Wall Street Journal editor in chief Matt Murray. “But we have added more resources to go deeper based on what readers are looking for right now.”

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Publishers Spin Up Economic Explainer Products, Spurred by Reader Demand

The editorial projects aim to make sense of a volatile economy

Mark Stenberg

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Mark Stenberg