Traditional media - what's that? Newsmakers can no longer expect to live on bread alone - advertising. I believe micropayments will work. But there needs to be an integrated approach including a spectrum of income earners. The market now also has too many newspapers and magazines so a lot of consolidation is to be expected.
Ideas that get in the way of saving journalism, Part 3
While it’s important to honor what we risk losing in the digital transformation (and the risk is significant), these themes often get in the way of seeing solutions that reflect the new and dynamic environment in which journalism must live.
Here are the first two in the series:
#1 “Only newspapers can produce quality journalism.”
#2 “People should pay for news.”
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#3 is the idea that a single solution to journalism’s challenges—particularly the financial one—is just waiting to be found. This idea crops up in discussions of how to pay for news. (Are micropayments The Answer? Yes, No, Maybe)
It’s natural that an industry that thrived for decades on a single source of income—advertising—over which it had a virtual monopoly would have difficulty imagining a different model.
On the revenue front, it seems clear that successful organizations will need to develop multiple revenue streams.
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