We’re back with another edition of Friday Five, your “go-to” roundup of the latest industry news and trends. This week, we’re highlighting academic publishers facing a peer review antitrust suit, news executives weighing in on AI’s role in journalism, The Economist’s new free "Espresso" news app for students, UK consumers excitement about car subscriptions, and Google’s recent court win.
Academic Publishers Hit with Antitrust Suit over Peer Review
An academic group has filed a lawsuit against six academic publishers, alleging that they abuse the peer review process for profit. The peer review process is a method used in academic publishing to evaluate the quality and significance of research before it is published. However, the lawsuit claims that these academic publishers are exploiting these scholars and have “essentially agreed to hold the careers of scholars hostage.” Read more on Publishers Weekly.
News executives weigh in on the change management of AI
A recent INMA roundtable at Vail reveals that news executives are particularly focused on the integration and management of AI for media organizations. Some of their plans include determining if consumers will accept AI content and using AI for newsroom activities to free up journalists’ time. However, only half of the participants are currently adopting these tools for their journalists. A key takeaway is that despite the growth in generative AI tools, few news organizations are enthusiastic, as they understand that they cannot expect an immediate return on investment. Read more on INMA.
The Economist Espresso app free for students
The Economist has announced that students will soon be able to access short-form daily news for free through the “Espresso” app. The initiative aims to engage young readers and provide them with quality, fact-checked journalism. Students over 16 can sign up without providing payment details. This effort is part of The Economist’s broader strategy to make digital content more accessible. Read more on InPublishing.
Half of UK consumers consider car subscriptions
Nearly half of UK consumers (49%) are considering car subscriptions instead of purchases, according to a June 2024 PwC survey. Younger drivers and those with tighter budgets are particularly interested in this option. Rising vehicle ownership costs are pushing many to seek more affordable financing alternatives. Despite the survey results, new car purchases remain high. Read more on Yahoo Finance.
Google wins court challenge to the EU’s $1.7 billion antitrust fine over ad product
In a surprising decision, a European court sided with Google regarding claims that it unfairly restricted third-party websites from displaying rival ads. While the court agreed that Google did breach EU regulations, it found the fine imposed was disproportionate. This ruling is part of a series of advertising antitrust challenges Google is facing in the EU. Read more on CNBC.