Challenges of Managing News Agencies in the 21st Century: Transformation Examples of the Most Influential

Selenić, Uroš and Penezić, Slobodan (2024) Challenges of Managing News Agencies in the 21st Century: Transformation Examples of the Most Influential. International Review, 10 (3-4). pp. 230-238. ISSN 2217-9739

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Abstract

The topic of agency journalism (AJ) and news agencies (NA), where it is primarily practiced, is unjustifiably on the margins. This represents a paradox, considering its significance for the global role of the media industry and the characteristics of the journalistic profession as a whole. That is especially true over the past two decades, during which the entire communication landscape has rapidly changed due to the impact of new technological tools, and considering the fact that NAs are among few traditional media that have successfully responded to these changes. The subject of this article, therefore, is the specificities and importance of AJ and NA, the challenges they are currently facing, and the strategies they undertake in this regard. In the first part we will present the characteristics and significance of AJ and NA, alongside an overview of the circumstances in which they operate today. We will then examine the current transformation models, with a special emphasis on the three globally most influential NAs (AFP, Reuters, and the AP). After that, we will highlight the connection between the basic features of NA and AJ and the successful management models among them today. This also serves as an argument for the reasserted importance of AJ and NA today, reflected in their specific work models, allowing us to conclude that this is the foundation of their success in the current market. Given the evident lack of recent relevant research, our goal is also to describe more concretely how this segment of the media industry functions today, by using examples from the globally most influential NAs. In this way, they are the best illustration of current changes and adaptations to them, as well as a useful guide for other media outlets, such as those that exist in Serbia.

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