News media brands' value within polarized media markets: Perceived quality vs. political congruence

This study measures the consumer-based brand equity (CBBE) of news firms in Catalonia (Spain). The aim is to determine the dimensions of news media brands that are most important to their audiences. We surveyed more than 15,000 read-ers of two legacy and three native online brands. We conducted an array of exploratory factor analyses (EFAs) and confirmatory factor analyses (CFAs) to identify the dimensions with more impact on CBBE. Since empirical research on news firms' CBBE is scarce and focuses on legacy news media, our project provides an updated and more comprehensive scale that measures both legacy and native brands. Moreover, the study finds that in a polarized media market, the journalistic quality perceived by the audience has the strongest impact on CBBE. However, most consumers also prefer news firms that they perceive as politically congruent with their opinions. Theoretical and managerial implications of these findings are discussed.