There is no new revenue model for journalism
“I would suggest that publishers work to cultivate their relationships with their community, to maximize the amount of donation income that they can receive, either in direct donation or via advertising campaigns.” — Robert Niles, former Internet editor of L.A. Times
Robert Niles stresses what his headline shouts, and that there are three basic ways to create revenue:
- subscriptions
- advertising
- donations
While I agree there may not ever be a fourth avenue to pursue, I think what journalism needs to figure out is which one of those three choices (or what combination) allows journalism to survive on the Web.
It’s simple, advertisers don’t want to pay as much. Subscribers don’t see a benefit to e-editions or want to leap over a pay wall. And leaving a site open to the winds of charity isn’t a great model for sustaining a presence.
Niles says we need to come up with a new production model. He’s right. There isn’t a textbook way to operate a local news Web site. All too often it is an after-thought for many TV stations, newspapers and magazines.
Finding a way to standardize the process may help us reduce costs, thus helping to shore up the bottom line. Instead of concentrating on what is coming in, maybe editors should figure out how to control how money is going out.
