Welcome back to another edition of Friday Five (plus one)! This week, we’re seeing notable industry shifts, including the Guardian launching its new free “Filter” platform for eco-conscious consumer journalism, Spotify’s deeper investment in the audiobook market, Hearst’s new content partnership with OpenAI, the circulation trends of The Boston Globe and Boston Herald, Bloomsbury’s acquisition of academic publisher Rowman & Littlefield, AND...the FTC announcing their final "Click to Cancel" law. Keep reading to discover how these key moves are shaping the future of media and publishing!
The Guardian launches the Filter
The Guardian has announced the launch of their new free “Filter” platform for consumer journalism. The platform offers independent product reviews and shopping advice in various categories, such as tech, fashion, and food. Guardian hopes that the Filter will help encourage consumers to make eco-conscious purchases, such as buying second-hand, recycling, or repairing products. While readers can purchase through affiliate links, the Guardian emphasizes that all product endorsements are independent. Katharine Viner, editor-in-chief says, “With an overwhelming choice for buyers online, the Filter sifts through the noise to help conscious consumers to buy better.” Read more on InPublishing.
Spotify paying audiobook publishers hundreds of millions annually
Spotify is aiming to become a competitive player in the audiobook market, recently collaborating with several major audiobook publishers to expand its offerings. These partnerships are part of Spotify’s strategy to diversify beyond music into other audio formats, capitalizing on the growing demand for audiobooks. Spotify has rolled out audiobook offerings into its subscription plans, potentially making it a competitive option for audio content consumers. Read more on Axios.
Publisher deals vs lawsuits with generative AI companies - Hearst in the US is latest to sign content deal with OpenAI
While many publishers are grappling with their AI content strategies, Hearst has signed a content partnership with OpenAI, allowing AI tools like ChatGPT to incorporate material from its U.S.-based brands. These include magazines such as Cosmopolitan and Esquire, along with newspapers like the Houston Chronicle. Hearst's leadership views this collaboration as a key step toward integrating AI responsibly while preserving journalistic integrity. While Hearst is taking this big step, other publishers are putting on the brakes, hoping that the industry will take a more AI-unified stance. Read more on PressGazette.
Circulation holds steady at the Globe while it continues its slow decline at the Herald
As the publishing industry shifts from print to digital, The Boston Globe's circulation remains stable, with digital subscriptions surpassing 245K as print declines. In contrast, the Boston Herald is seeing a steep drop in both print and digital readership, with weekday print circulation down 20%, signaling ongoing challenges in retaining its readership. Read more on Dan Kennedy.
Bloomsbury buys academic business of Rowman & Littlefield in biggest deal to date
Bloomsbury Publishing has acquired the academic division of Rowman & Littlefield in its largest deal to date, valued at $83 million. Calling it a “game-changer,” the Bloomsbury CEO Nigel Newton says this will help grow the group’s academic and digital publishing presence in North America and other new markets. The deal adds 40,000 academic titles to Bloomsbury's portfolio, strengthening its focus on the arts, humanities, and social science. Read more on The Book Seller.
And, this week, we're also talking about...
The federal government just made it much easier to cancel your gym membership
The Federal Trade Commission (FTC) has announced their final "click-to-cancel" rule, which requires businesses to provide consumers with the option to cancel subscriptions using the same method they used to sign up. Even if customers enroll in person, they will still have the option to cancel online or over the phone. This rule also mandates that businesses provide clearer information about subscription terms and prevents them from charging consumers without explicit consent, ensuring greater transparency and protection for consumers. Read more on CNN.