A survey released by Roy Morgan last week found the ABC is by far Australia’s most trusted media organisation.
Trust in the ABC was driven by its lack of bias, quality journalism and ethics. It is an interesting result after further cuts to the ABC budget in the May Federal Budget and recent speculation that it may be privatised.
Roy Morgan spoke to 4000 Australians and asked then which brands they trust and which they distrust.
At the other end of the spectrum Facebook – and social media in general – is deeply distrusted by the Australian public.
Social Media has what Roy Morgan calls a Net Trust Score of minus 42%.
To put that in context, the banking industry, which has been battered by the Royal Commission, has a Net Trust Score of only minus 18 so that shows you the level of distrust in social media in an age when fake news has become a common meme.
Roy Morgan outlines 5 reasons why distrust matters:
- Distrust triggers audience churn
- Distrust kills audience engagement
- Distrust kills advertiser spend
- Distrust is the tipping point for reputational damage
- Distrust is the bellweather for an unsustainable future
The Walkley Foundation in its recent submission to the ACCC digital media inquiry said: “Fake news is simply easier. Shaping a fake story takes less time than digging out true stories. In fact, it’s so simple that bots can do it. This means that the sheer volume of manufactured news overwhelms true news.”
However, the rise of fake news has eroded trust – especially in social media – and according to Roy Morgan the rise of distrust can have significant commercial implications.