The digital news industry is opening up endless possibilities for publishers to connect with the audience, deepen engagement and rethink traditional business models. With the rise of AI-driven discovery, changing social media dynamics and audience behaviour, evolving advertising models and growing competition for advertising revenue, independent publishers are navigating how to retain consistent website traffic, build readers’ trust through useful journalism and preserve editorial autonomy.
According to the Reuters Institute’s 2026 Digital News Report, 54% of people use social media and video networks as a news source across 48 markets. 77% watch news in video format each week. The report also says that AI chatbots have become a major source of news discovery and consumption for 10% of the respondents.
In conversation with State of Digital Publishing, Kumaran Pillai, publisher of The Independent Singapore, shares his business-oriented perspective on what it takes for an independent publisher to build a model in a rapidly changing ecosystem. Since taking charge of the publication and steering its growth in 2013, he has experienced many shifts in reader engagement patterns, news consumption habits and distribution channels. Apart from journalism and venture acceleration, he has also supported 40 startups. From the importance of building first-party audience relationships and adopting AI tools to applying startup strategies to publishing, he shares insights that can help publishers strike the right balance between credible journalism and revenue opportunities.
You’ve run The Independent Singapore since 2013, through several shifts in how audiences find news and how publishers earn money. Which business decisions have made the biggest difference to its sustainability over that time, and what would you do differently if you were starting today?
The biggest difference has come from being willing to adapt. The way people find news has changed repeatedly, and the business has had to adapt. We’ve built an audience through search and social, developed advertising and sponsored content, and more recently emphasised direct relationships through email and push subscriptions.
If I were starting today, I would build the first-party audience earlier. Platforms can help you reach people, but you need ways to keep serving them when those platforms change. I’d also treat the technology and revenue model as part of the publishing business from the outset, not as support functions to deal with later.
Independent and journalist-owned outlets often compete with larger, better-funded groups. Where do independents have a real advantage, and how should they lean into it?
An independent outlet can be closer to its readers and respond faster. We don’t have to serve many markets or fit every story into a single corporate strategy. That gives us room to understand the local conversation and cover things that matter to a specific community. The advantage only counts if the journalism is useful and trusted. Independent outlets should focus on the audiences and subjects they understand well, build a recognisable voice, and make it easy for readers to come back directly.
How should an independent publisher protect editorial credibility and independence when revenue pressure is high?
You need a clear line between editorial decisions and commercial arrangements. A sponsor can support a piece of work, but the audience should be able to tell when content is sponsored, and the sponsor should not control our reporting. That line is easier to maintain when the business has more than one source of revenue. The pressure to compromise is greater when one advertiser or platform accounts for an overly large portion.
What lessons from running startups and accelerators carry over to publishing, and where do they not?
Startups teach you to test assumptions, pay attention to what people actually use, and manage limited resources carefully. Those habits are useful in publishing too. You can test formats, distribution approaches and products without assuming that a good idea will automatically find an audience. But journalism has responsibilities that a typical startup product may not have. Accuracy, fairness and public trust can’t be treated as features to optimise after launch. Some work is important even when it doesn’t produce an immediate commercial return.
With third-party cookies, privacy rules and platform changes still reshaping advertising, how should smaller publishers approach their ad stack and first-party data?
Keep the ad stack as manageable as possible and understand what each part contributes. Smaller publishers don’t need to add every new tool or bidder. They need to know what is producing revenue, what is slowing the site down, and how the reader interacts with the content.. Collect first-party data with a clear purpose and the reader’s consent. Email sign-ups and push subscriptions can help a publisher build a direct relationship, but the value comes from serving readers better—not from collecting data for its own sake.
How can independent publishers get more value from programmatic advertising without hurting user experience?
Start with the reader’s experience and measure the value of each placement. More ad units do not automatically mean more revenue if they make pages slow, cluttered or difficult to use. We’ve had to keep adjusting our setup and look at how ads behave as readers move through a page. Publishers should test placements, formats and pricing floors, then keep the combinations that perform without getting in the reader’s way. A simpler setup that works consistently can be more valuable than a complicated one that is difficult to manage.
Beyond display advertising, which revenue streams are working for independents, such as memberships, events, sponsored content, newsletters or partnerships?
For us, sponsored content and publishing partnerships are part of the mix, alongside advertising. We’re also developing managed publishing and technology services for other publishers. That work builds on capabilities we’ve developed in our own newsroom and platform. Memberships and events can work, but they need a clear reason for readers or partners to pay. I wouldn’t assume they will work simply because other publishers have tried them. The right mix depends on the audience and what the publisher can deliver consistently.
With Q4 being a peak period for advertising, how should publishers plan inventory, pricing and direct sales, and what mistakes should they avoid?
Start planning early. Review what inventory is likely to be available, which placements perform well, and what you can offer directly to advertisers as a clear package. Direct sales work better when the publisher can explain the audience, the placement and the campaign outcome. The main mistake is to sell more than you can deliver or to overload the site to chase short-term revenue. Pricing should reflect demand and the value of the inventory, but the reader experience still matters. Advertisers are buying access to an audience; publishers need to protect that audience.
As AI search summaries and chatbots take over more discovery, how should independent publishers protect traffic and build direct relationships with readers?
Publishers should keep making original reporting that has value beyond a short summary. At the same time, they need to make their work easy to find and clearly attributed, while accepting that discovery channels will keep changing. We’re putting more attention into direct channels such as email and push. If someone finds a story through search or social, the next step is to give them a reason to hear from us again without depending on the same platform to deliver every visit.
How can publishers build a loyal audience when they rely heavily on social platforms and search for distribution?
Use search and social to reach people, but don’t let those platforms become the whole relationship. Make it easy for readers to subscribe, follow a channel or return to the site. Then give them a reliable reason to do so: useful journalism, a recognisable voice and a consistent experience. Loyalty takes time. It comes from being constantly relevant, not from one viral story or a large follower count.
Where are you seeing AI tools genuinely help small newsrooms and publishing teams, and where should they be careful?
AI can help with research support, organising information, analysing performance and reducing repetitive work. For a small team, saving time on those tasks can give journalists more room to report and edit. The newsroom still needs to own the facts, framing and final decisions. AI can make errors sound convincing, and using it to produce large volumes of unchecked material can undermine trust. The tool should support editorial work, not replace editorial responsibility.
How should an independent publisher think about regional or international expansion without diluting its brand?
Expansion should begin with a real audience or partner opportunity, not just a new domain or a larger map. A publisher needs to understand what local readers want and whether it has the people and resources to serve them properly. We’ve explored different markets and publishing models, but each one needs a clear identity and local relevance. The brand can travel; the journalism still has to be grounded in the place it serves.
How do you approach partnerships, such as with startups, funds, brands or other publishers, to extend reach and revenue?
I look for an appropriate choice: what each side contributes, what the partnership is meant to achieve, and how the value will be shared. A partnership should help us do something we couldn’t do as effectively alone, whether that is reaching a new audience, developing a product or serving a client. It also helps to be clear about responsibilities, editorial control, rights and revenue from the beginning. Goodwill matters, but it is not a substitute for a workable arrangement.
After more than a decade as a publisher, what have you learned about keeping an independent, journalist-owned outlet relevant and financially healthy through market shifts, and what advice would you give publishers who are just starting out?
I’ve learned that there is no permanent distribution strategy. Search changes, social changes and advertising changes. A publisher has to keep adapting while protecting the basic reason readers come to it: useful, credible journalism. For someone starting out, I’d say understand your audience and your costs early, and don’t rely on a single source of traffic or revenue. Build something readers have a reason to return to, and be prepared to change how the business supports it.
You previously ran a venture accelerator that supported around 40 startups. What can independent publishers learn from how startups test ideas, find product–market fit and manage limited resources—and where does journalism require a different approach?
The accelerator experience reinforced the value of testing ideas with real users and being honest about what is working. A small publisher can apply that to new formats, products and revenue lines: start with a specific need, test it, and learn before committing too many resources. Journalism also has obligations that don’t fit neatly into a startup’s product–market-fit language. Audience interest matters, but it cannot be the only measure of editorial value. Publishers have to balance what readers engage with against accuracy, independence and the public importance of the work.
Final Thoughts
Independent publishing provides diverse venues for innovation, provided publishers know what their readers need and value, and build their business model around those preferences. Small publishers might have limited resources. But they can also stay ahead of the curve and compete with media giants if they stay agile, leverage local insight, and make editorial decisions based on changing reader needs. Publishers must look beyond traditional advertising, adopt emerging technologies and focus on building direct relationships with readers.
Publishing outlets that want to survive and remain relevant in the changing media landscape must be open to change. Challenges can be many, but with the right perspective, each can become a competitive advantage. Ultimately, the capacity of publishers to experiment constantly, identify new growth opportunities, test new formats based on audience needs, and invest in strategic partnerships, without compromising the values and trust that define credible journalism, will determine long-term success.
