Edelman Trust Barometer 2009: trust in media brands declines

Nick | 27 Jan 2009, 14:34

As the world’s business and political leaders, campaigners and members of the media descend on Davos, the Financial Times reported today that trust in business is at its lowest level for ten years, with trust at a record low for media brands.

This is the conclusion of the 10th edition of the Edelman Trust Barometer, a survey of almost 4,500 “opinion leaders” across 20 countries that aims to measure the credibility of groups ranging from non-governmental organisations to stock market analysts.

Amongst “informed publics” of well educated, highly-paid and engaged 25-64 year, almost two-thirds - 62 per cent - said they trusted companies less this year than last. In the US and Japan, two of the world’s most important economies, more than 75 per cent had lost faith in business in the past 12 months. In the US, just 38 per cent now say they trust business - down 20 percentage points on the 2008 result to its lowest level since the poll began.

After a year that has seen the near collapse of the international financial system and the slide into a global economic recession, these findings may come as little surprise. But according to the report’s authors, what makes this year so different is that these factors have impacted trust across the board: “In previous years, when one category went up, another went down. Here, everybody’s down.“

Speaking at the launch of the study, FT Lex column writer, John Paul Rathbone described the findings as particularly challenging for media companies, with many struggling to adapt their business models and now suffering a collapse in trust. 

However, the research also indicated that “brand reputation” has never been more important for business - a trend which represents an opportunity for creative businesses working with big brands. This is an opportunity which extends beyond fields such as advertising and marketing to film, television and music which all have a role to play in influencing brand trust: “Traditionally, companies polished their reputation by talking to regulators, investors and the mainstream media. Today, there’s a need to talk to employees, NGOs and the most activist consumers. There’s a new set of influencers,“ according to Richard Edelman, president and CEO, Edelman.

Edelman works on behalf of the C&binet project.