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This is a very short (5 minute) overview of some of the more prevalent ideas for how journalism could be funded in the future. I presented this at an Ignite event in fall 2009.
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Buy this news, please?
Potential business models for online news in the not-all-that-
far-off future
A Look Back
Subscriptions didn’t cover the cost of news content, only delivery method.
Advertising covered the rest. In 2000, 40% of the newspaper industry’s revenue came from print classifieds.
Why focus on online news?
Rising costs associated with print: Fuel, newsprint, postage, etc.
There’s new audiences out there.Well, that’s what I know best. So there.
Who’ll be making news?
Citizen journalists Bloggers Online communities News start-ups
“Old Media” Survivors
(Hey, why not?)
No money, mo’ problems
6 theories for funding online news
#1 - Advertising
If it ain’t broke, why fix it?
Not just for print anymore
Some sites profit from online ads (Gawker, Tech Crunch, etc.)
Those sites have less overheadSponsored contentTarget advertising to readers
News as Non-Profit
That’s not an oxymoron
News as Non-Profit
Largely paid for by grants, philanthropy
“Watchdog for hire”
Published in other news outlets
ProPublica, Common Language Project
Pay Walls
Get behind the velvet rope
Content pay walls
News accessed only by subscribersProbably most popular option with journalists
Ex: Newport Daily News, magazines
Content pay walls
Pros Forces readers to subscribe
Limits unauthorized use of copyrighted content
Increases value of exclusive content
Cons Readers may turn to free competitors
Lost traffic, lost ad revenue
Subscriptions alone don’t pay the bills
“Freemium” Memberships
One easy payment of $19.95…
“Freemium” Memberships
Offers most everyday content for free
Charging for access to exclusive content
May include extra discounts, perks not available to non-subscribers
Who’s Doing it Well
Packer Insider at JSOnline.comESPN InsiderMen’s Health Personal TrainingWall Street JournalNiche content
Micropayments
Readers determine value by paying for what they
want
Micropayments
Government Subsidy
No, really.
Cons:Pros:
Who knows?