

03
volume 03 | august 2024
Discover what’s on the minds of FT readers, from feelings about major sports events like the Olympics to key business priorities for the next six months
FT Audience Barometer
Discover what’s on the minds of FT readers, from feelings about major sports events like the Olympics to key business priorities for the next six months
Discover what’s on the minds of FT readers, from feelings about major sports events like the Olympics to key business priorities for the next six months
Welcome to the third edition of the FT Audience Barometer. We take raw data from our ongoing FT audience survey, and layer in geopolitical context and analysis to better understand how FT readers feel about the current (and future) state of the world.
In this issue…
Dive into the details below and get to know what’s on the minds of the FT’s readership
SPECIAL REPORT:
major sports events
The Summer Olympics in Paris came out top, with 61 per cent of readers saying they were very interested or somewhat interested, just ahead of the FIFA World Cup on 55 per cent, and Wimbledon on 51 per cent.
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Traditional media remains the most popular way to follow sporting events: 69 per cent of FT readers are either very likely or somewhat likely to watch events on television, although, as Josh Noble discovered, this might be the last hurrah for the sports broadcasting rights model, which is struggling to reach Gen Z audiences.
– Female, 45–54, CEMEA, in response to the question: What would make you more interested in following the Summer Olympic Games in 2024?
When asked specifically about the Olympics, FT readers are divided, with 33 per cent strongly or slightly agreeing with the statement: “The Olympics are nothing more than a media spectacle.” But 68 per cent strongly or slightly agree that “The Olympics are a celebration of human potential”, affirming, perhaps, the hope of Tony Estanguet, head of the Paris Olympics organising committee, that this year’s games will be a “rare, magical moment.”
And sponsors of this year’s games will be heartened to hear that 33 per cent of readers strongly or slightly agree with the statement “I perceive brands who are associated with the Olympics as more likely to be leaders in their field”, despite the financial and reputational risks of top-tier games sponsorship, which Leo Lewis explores in the link below.
- Male, 35–44, UK, in response to the question: What would make you more interested in following the Summer Olympic Games in 2024?
SPECIAL REPORT
challenges, spending, & structural changes
The responses were surprisingly uniform with Attracting and Retaining Top Talent, Managing Economic Uncertainty and Maintaining a Profitable Business occupying the top spots across all regions. Unsurprisingly, there were some variations, with geopolitics perceived as a greater challenge in Asia Pacific and CEMEA, possibly as a result of ongoing tensions in the South China Sea and the risk of war between Israel and Hizbollah.
When asked how their companies were likely to change their spending over the next 12 months, 36 per cent of FT readers report a likely increase in investment in AI, no doubt driven by the potential of the technology to radically change the way we work. And 35 per cent of readers say their organisation is planning to invest more in cyber security, probably in response to the constantly morphing threat posed by hackers.
Similarly reflective of the changing nature of the workplace were the areas in which readers stated their organisation planned to decrease spending: 30 per cent predict a tightening on company events, and 34 per cent expect cuts in spending on business travel, showing how the Covid-19 pandemic and climate concerns are changing the way we do business.
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When asked an open-ended question about expected structural changes in their industry, many cited something related to AI, either positive or negative. Beyond that, people seemed concerned about the increasing cost of resources and geopolitical instability.
– Female, Americas, 45–54, in response to the question: Which structural and fundamental changes are you anticipating in your industry sector and why?
Economic outlook:
global, local and industry-specific
Among FT readers globally, faith in the global economic outlook is up sharply, with 53 per cent of survey respondents feeling confident that things will improve over the next six months, up from 40 per cent in Q4 ’23.
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When quizzed on their confidence in the local economic outlook, 46 per cent of global FT readers feel the situation will improve in their region, with only 26 per cent anticipating decline. In the Americas, the number of FT readers feeling positive about the next six months jumped to 54 per cent, a reflection, perhaps, of Janan Ganesh’s theory that for all the noise being generated in this tumultuous election year, it’s possible that politics doesn’t actually matter that much. The regional buoyancy in the Americas contrasts starkly with the mood in Asia Pacific, where only 39 per cent of FT readers believe things will improve in the short term, possibly owing to a recent contraction of the Japanese economy driven by sluggish consumer spending.
Globally, FT readers felt growing optimism about their sectors, with 44 per cent expecting things to improve over the next six months (up from 37 per cent in Q4 ’23) and only 18 per cent thinking they will decline (down from 22 per cent). This confidence is mirrored by the respondents’ positivity regarding their own company’s outlook, with just 12 per cent expecting decline, and more than half (52 per cent) feeling positive.
FT readers working in finance were particularly bullish about the future, with 54 per cent seeing the sector on the up, rising from 45 per cent in Q4 ’23, possibly a result of a widely anticipated productivity boost underpinned by accelerated AI adoption.
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Across all regions, there was also growing optimism among those working in the manufacturing/engineering sector, with 54 per cent of FT readers expecting positive change, up from 38 per cent in Q4 ’23. This trend was particularly marked in the CEMEA region, possibly driven by the better-than-expected performance of Europe’s industrial powerhouse, Germany, where factory production was up in both the car-making and construction sectors.
However, in the government/health/education/NGO sector the mood is downbeat. Only 27 per cent of FT readers working in the sector think things will improve, with the same proportion thinking things will decline, a result, possibly, of unease at the prospect of a Trump election win later this year, which will likely lead to a dramatic cut in healthcare spending in the US. By contrast, the American technology sector is flying – with 65 per cent of FT readers who work in the industry confident that things will get better over the next six months, partly, perhaps, a result of the federal government’s move against Chinese tech, which has unleashed a wave of investment and innovation in the US tech sector.
COMPANY PRIORITIES
cutting costs keeps the top spot
Cost-cutting retained the top spot as the chief priority for businesses across all sectors, with 40 per cent of FT readers considering it a key company goal. Among FT readers working in the manufacturing/engineering sector, more than half see it as key (52 per cent), possibly a reaction to the end of the sharp fall in commodities prices, which have plateaued recently as geopolitical tensions tighten and demand increases.
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Globally, there is a notable increase in readers who prioritise finding and keeping talent across all sectors, up from 28 per cent in Q4 ’23 to 36 per cent in Q1 ’24. Among the sectors in which this was prominent was government/health/education/NGOs (39 per cent), partly, perhaps, a result of the continuing global shortage of healthcare workers.
Among FT readers working in the fast-moving technology sector, improving market share is a priority for 51 per cent globally, a figure that shoots up to 69 per cent among UK readers, maybe a reflection of the growing strength of the French tech companies threatening the UK’s position as industry leader.
BUSINESS CONFIDENCE & COMMS
confidence remains high
Globally, business confidence has stayed constant, with 79 per cent of FT readers believing their company can successfully navigate prevailing economic and geopolitical conditions over the next six months. In the UK, there was a slight uptick across all sectors (up to 79 per cent from 77 per cent in Q4 ’23), but considerable variance among sectors: business confidence in manufacturing/engineering rose from 74 to 90 per cent, a reflection perhaps of investment flooding into the UK car industry.
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In terms of corporate messaging to stakeholders, top communication priorities among FT readers globally remain “trust” and “performance”. Contrasting opinions about the importance of communicating ESG credentials saw 43 per cent of readers in the UK considering it a priority, compared with only 23 per cent of readers in the Americas, perhaps a reflection of the extent to which ESG has become a culture wars battleground in the US in a way that it hasn’t in Europe.
What is the FT Audience Barometer?
The FT Audience Barometer is an analysis based on data from a short survey conducted multiple times a year that measures the sentiment of FT readers. The Barometer does not include all findings or focus areas from the survey, but instead chooses different data to analyse so that we can keep each edition unique, fresh and insightful.
What the FT Barometer survey focuses on
Since its inception in March 2020, the Barometer survey has had over 15,000 responses from the FT audience.
Each wave of the survey asks the same set of questions across
Four core areas:
Perception of economic conditions – global, local, industry and company-wide
Most important business goals and priorities in the next six months
Importance of business communication
Corporate messages to communicate to key stakeholders
But each wave of the survey also includes different themed sections. This time, the survey focused on media coverage and feelings about personal finance/NGOs.
The Q1 2024 survey link was emailed to readers of the FT (print and/or digital) and members of the FT Feedback Forum. Some 1,387 respondents completed the survey.