A recent study conducted by the European Alliance of News Agencies (EANA) in collaboration with the Università della Svizzera Italiana (USI) has unveiled key trends and strategies defining the European news agency sector in 2022. The analysis, incorporating insights from 32 top news agencies across Europe, highlighted varied financial models, investment in journalistic training, and adaptations to geopolitical events.

The study indicated a significant variation in the financial structures of European news agencies, with income streams ranging from commercial contracts, a predominant revenue source, to limited dependence on advertising, sponsorships, and government subsidies. Core revenue, however, consistently stemmed from the sale of newswires.

Investment in professional development, particularly in areas such as fact-checking and cyber-security, was a priority for the majority of EANA members. Additionally, the reliance on freelancers, especially for photography and news coverage, was a common trend.

Reflecting broader societal issues, many agencies are implementing diversity plans to address gender representation, ethnic equality, and specific challenges like journalist protection and combating disinformation. Over half of the news organizations took special measures to maintain coverage of the Ukraine war, with some specifically hiring war correspondents. Global agencies like AFP, AP, and Reuters played a crucial role in reporting on this conflict.

Most EANA member agencies primarily cater to a business-to-business market, facing competition chiefly from international news organizations and companies specializing in niche segments like media monitoring and IT.

The study underscored the overall media industry crisis and the ongoing war in Ukraine as major influencing factors in 2022. In response, many agencies have embraced new technologies, investing significantly in artificial intelligence, 5G, and blockchain, particularly for enhancing security.

Copyright issues were a common challenge throughout the year. Strengths of EANA member agencies lie in their longstanding tradition of accurate journalism and innovative capacity, while challenges include shortages of skilled professionals and technological advancements.

The primary opportunity identified for news agencies is leveraging technological advancements, whereas the key threat is a potential market contraction with clients reducing budgets and demand.

To counter these challenges, news agencies are diversifying and expanding their services. Alexandru Giboi, Secretary General of EANA, emphasized the importance of quality journalism, speed, accuracy, and trustworthiness, acknowledging the role of diversification strategies and technological innovations like AI and blockchain in advancing the news agency business.