Blockchain's 2024 Surge into Mainstream Media
Often restricted to the confines of its own rather expansive media ecosystem of trade magazines, blockchain has endured a somewhat turbulent relationship with mainstream media outlets, often found to be relegated to a specialist feature or two, or skirting the financial pages as part of some murmurings on cryptocurrency’s latest highs or lows, rather than standing on the shoulders of its own technological potential.
The momentum is building
However it’s March 2024, mentions of blockchain (excluding price) are up 18%* year on year in leading English language media outlets globally, a marked increase on previous years. So what's behind this shift? Has blockchain finally disentangled itself from the cryptocurrency highs and lows of the last few years? Is it now time for it to step into the spotlight and to be properly celebrated for its potential, beyond that solely of digital currencies?
The wave has been coming
The truth is this wave has been coming, and something we’ve seen first-hand. Speaking to journalists on the ground, some have implied this is an associated nod of approval to the emerging regulatory frameworks that are being developed to govern the burgeoning cryptocurrency market. Others have hinted that this renewed media discourse is a result of governments and businesses alike waxing lyrical about the capability of blockchain, and starting to deliver on these promises. After all, some quite publicly, are exploring the use of blockchain for enhancing transparency in public services, or rolling out the technology from the perspective of improving security.
Beneath all the nefarious and short-sighted behavior which can be commonplace when a new technology emerges - something we’ve seen with previous hype cycles - what remains is an underlying technological revolution in blockchain that many believe will make many things easier, better, faster and more efficient, and it seems that overall there’s a renewed recognition of this amongst the mainstream commentariat.
Making sure you’re well positioned to insert yourself into the mainstream debate… if it makes sense to do so
As long-time media practitioners and business-to-business (B2B) specialists we know that it’s not always going to be beneficial to your PR campaigns to join the mainstream debate and may not best serve the aims of your program. If the likes of Coindesk and Cointelegraph are the main focus for your target audience, there's no reproach in continuing to focus your attention on the trade media. However if you're ready to take on the challenge of the mainstream which requires its own nuanced approach, here are a few considerations to help you put your best foot forward:
1. ‘I want to be a pilot when I grow up’
Regardless of the complexity of the technology, could the aims and impact be understood by anyone? If not, can you make it easier to understand using an analogy that can be understood by the masses? Previously for an upcoming keynote we worked with a client to explain its technology, which provided an end to end view of a company’s liquidity. The client had great success in explaining his childhood aspirations of being an airline pilot and the appeal of having sight and control of everything from the cockpit.
2. Take on the two sentence challenge
An editor at a tier one publication will receive hundreds of stories into their inbox most days. How can you explain the entirety of the story in the most succinct fashion? Could you explain it in two sentences?
3. Why do they care whether the fork is hard?
One of the gravest mistakes made when approaching mainstream media is assuming editors will have all of the relevant context for the latest industry developments and are well versed in all of the industry acronyms that although may be commonly used in the industry. Dropping in a casual mention of a hard fork (a radical change to the agreed rulebook of how a particular blockchain works) may leave some confused. It’s possible to achieve a balance between explaining things succinctly, without alienating any editors who have limited knowledge of the technology.
4. Assume an audience of sceptics
It’s prudent to show a level of awareness of the scepticism that exists among the masses and the role of tier one media in voicing that scepticism in their questioning. Can you include a case study which demonstrates the value of the technology from the perspective of a client? Have you featured in any of the recent industry analyst reports which map out the latest developments in your industry and have highlighted the value in the application of your technology.
Finally… So what?
Remember the role of the editor is to attract readers. Why should they care? Is your story compelling, and is it compelling if you’re reading it for the first time. If not, how could you simplify this without undermining the significance of the story?
Here at April Six, having worked with Blockchain brands for many years, through the highs and lows, it’s great to observe this media shift. We know the opportunity for blockchain technology is huge and we’re excited to continue helping our clients build their brands and businesses with increasing support from mainstream media.
If you need any communications support, or would like to discuss your PR goals with a team of proven blockchain comms specialists, it would be great to hear from you.
Niall Moran, Group Account Director & Blockchain Practice Lead
*Research: Using media intelligence platform Meltwater, looking at a curated list of the leading Global English language media in the 12 months to March 2024 there has been a marked increase in blockchain mentions (18%) (excluding price).