As the media landscape continues to dimensionalize and deliver a wider range of options, it is becoming more trusted and valued. The media also did a strong job this past year of covering the financial turmoil throughout the European Union as well as numerous corporate crises, including the Bank of America debit card fee, the Netflix/Qwikster snafu, and the India telecoms scandal. Media is also skillfully using social networks to help extend the life of its stories and, more important, keep its brands relevant.
In the U.S., trust in all media sources rose, with major jumps in the perceived trustworthiness of television, radio, and newspapers as sources of information about a company (by 23, 13, and 11 points, respectively). In the U.K., those same sources increased (by 25, 17, and 17 points, respectively). By contrast, in France and Germany, trust in television news and newspapers fell by ten or more points.
China saw double-digit decreases in television as a trusted source, plunging from 74 to 43 percent. Newspapers in that country didn’t fare well either (down by 20 points to 34 percent). But trust in social media jumped: micro-blogging sites and social-networking sites went from virtual distrust at just one percent each to being greatly trusted by a quarter (25 percent) and 21 percent, respectively—a likely reflection of the rapid growth in social media usage within China. At the end of 2010, Weibo (the Twitter equivalent) had 60 million users. By the end of 2011, 310 million users were on Weibo, which broke major news stories, including the corruption of the Red Cross and a high-speed train crash.
In the video below, Richard Edelman discusses why media had a good year in trust and what will likely come in the future.
Lisa Caputo, EVP Global Marketing and Corporate Affairs for Travelers, joined Richard Edelman as a panelist at the 2012 Edelman Trust Barometer breakfast in New York. In this video, she discusses the lessons business can take from media.