Trust in the traditional media as a source for news has declined by 22 per cent since 2016, according to advertising agency Ogilvy.
The company announced the findings of its 2018 Global Media Influence Survey at the Cannes Lions Festival this week, which found that this shift would likely lead to more collaborations between traditional and social media in the coming years, as both confront ongoing challenges to consumer trust.
Over 350 journalists worldwide were surveyed for the report, according to Ogilvy.
“Traditional news outlets are alive and well, but their partnerships with social media will have to continue to evolve,” said Jennifer Risi, worldwide chief communications officer at Ogilvy.
“It is increasingly clear that traditional media will have to collaborate across channels, and those integrations with social media will be key to their ability to drive authentic, transparent communications going forward.”
According to the survey, trust in traditional media has declined overall from 72 per cent in 2016 to 50 per cent this year.
The survey also found that an overwhelming majority of journalists (68 per cent) believe it is the responsibility of both the news industry and social media giants, like Facebook, to combat media ‘echo chambers’.
By contrast, only 24 per cent of those surveyed believe it is the individual responsibility of consumers to diversify their news sources.
Meanwhile, traditional media in North America is followed by social as the most trusted news source at 17 per cent, an increase from 12 per cent in 2017.
In Europe, the Middle East and Africa (EMEA), owned content such as company websites and press releases are the second most trusted at 34 per cent, compared to 10 per cent for social media.
Approximately 26 per cent of respondents believe that consumers will grow more willing to pay for their news from verified sources, at 26 per cent.
Those surveyed in North America and EMEA believe social media giants bear the most responsibility for combating media echo chambers at 35 per cent and 33 per cent.