1. The New Economics of News
Journalism Principles and Practices

2. Economic and Editorial Models
Impermeable paywall
Leaky paywall
Metered system
Free, ad supported via lots of page views
Free, curated network
Free, value added
Highly specialized, team with existing media

3. Economic and Editorial Models, Continued
De-facto ad agency
Hyperlocal
Social-media oriented
Community funded
One-person operation
Subscription

4. Impermeable Paywall Newsday http://www.newsday.com/
$5 week, $260 a year. Rolled out after $4 million re-design. Subscribers during first three months” 35.
Not reached by search….at least in part the problem faced by Times Select

5. Leaky Paywall About $150 per year.
Some is available online, and pretty much anything can be searched for. By making available for search engines, more page views.
WJS has seen steady growth.

6. Metered System
Financial Times, read a certain amount, then pay.
Pretty much same in NYT. Apparently in response to 19% who said they would pay more. Easier to go after those that try to extract from other sources.
Note that Times Select was not total failure – did generate 227K subscribers and made about $10 million, but Times recognized future was in search

7. Free, Rely on Revenue from Page Views
ChicagoNow.
Big collection of bloggers. About 100.
Theory, more pages, more page views.
Here is mix of new and old media. Brand name?
Curated

8. Highly Specialized, Sometimes Nonprofit, Teamed with Existing Media
CircleofBlue.org
Parallel with magazines in 1950s and 60s
Editorial mission of WSJ when founded in 1889 viewed as crazy – bring market information to people
Nonprofit, foundations
Says it adheres to NPR, SPJ code of ethics

9. Highly Specialized, Sometimes Nonprofit, Teamed with Existing Media, Continued...
Propublica.org
Stories with “moral force”
Teams with other organizations

10. Highly Specialized, Sometimes Nonprofit, Teamed with Existing Media, Continued...
Minnpost.com
Political reporters
Some grant money
GlobalPost
Phil Balboni raised $8 million,
70 journalists
In response to increasingly global world where global coverage is cut
Offers membership deals

11. Become De-Facto Ad Agency
Palm Beach Post.
40 million page views per month, profits up with advertising partners across multiple platforms.
Seminars

12. Hyperlocal Everyblock.com Many cities News within a few hundred feet
Aggregates data, including Craigslist, filters to location
Raw information, not edited

13. Contribution-Funded Patreon You come up with idea
Community raises money til enough to pay

14. One-Person Operation http://garyvaynerchuk.com/
I.F. Stone

15. Possible Ideas for Future
Government subsidy, perhaps from tax on ISPs, cable
Not entirely new idea: remember tax subsidies, anti-trust exemptions…Ben Franklin
Micropayments

16. What’s Holding Us Back?
Privacy
Payment systems AP

17. But Will People Pay for It?
Buy apps
Buy cable TV
Eduardo Porter – The Price of Everything
What we pay makes little sense – $3 for bitter coffee
Less likely to give blood if pay for it than give for free
Distorted prices steer value wrong way

18. What is the Value of News?
Not going to denigrate blogs, but do remember that blogs have to feed on something
News, the way we’ve come to know it, affects way we think
Accept serendipity and learn from it
Get out of our high-volume echo chambers, which not only feed us one view but magnify it

19. This is the Value of News
Certainly opinion has its place
Some celebrate the impending death of “elitist” or “institutional” news
Maybe some relevance, but also some value
Attribution
Forced to seek out other views – maybe learned that people who held them weren’t demons
Let’s not marinate in nostalgia, but recognize considerable value
Orchestra at full volume