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21 Oct 09

4 things for media to sell in the world of free

Thoughts from a Swedish journalist about how to make money in the broken news industry.

www.va.se/...4-things-for-media-to-sell - Preview

Mikael Zackrisson revenue Chris Anderson free

newspapers and magazines must stop seeing themselves as organisations owning information or by themsselves gathering information, information they then distribute to their readers. Instead we must see ourselves as facilitators who identify important areas and trends and which we then, together with our readers, explore.

28 Aug 09

The Future Of News Is Scarcity

Venture capitalist Nic Brisbourne says news organizations must find ways to make money off the scarcer things about their coverage and let the free news be free.

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scarcity Nic Brisbourne newspapers free free is a business model Chris Anderson

The great tragedy of the newspaper industry in the late 20th Century was that, in the pursuit of profit, quality journalism became a dying art. Budgets were reduced, journalists were asked to write more stories per day and were given less time to check facts. At the same time, editors were instructed to avoid stories that might create controversy and the expense of lawsuits. The result was more and more bland articles recycled from paper to paper, more politically motivated editing and the collapse of public trust in the newspaper industry.
the industry is possibly more exposed than any other to the trend towards $0 pricing for online content.
3 more annotations...
- the answer to this conundrum is not to swim against the tide and find a way to start charging for news, but, rather, to understand what is becoming commoditized and abundant, and what new scarcities are created as a result
- The good news is that every abundance creates new scarcities and this is where the news industry must go to make money in the 21st century. The scarcities created (and enabled) by abundant news are interesting stories, thought provoking analysis, conversation and community, and trust/verification.
  
  Interesting stories go beyond simple reporting of what has occurred, bringing in relevant context and staying with a topic as it unfolds. Thought provoking analysis will dare to shock, and to be wrong. Conversation and community will both make the experience richer for the active participant and improve the quality of the content on the site for more casual reader. Trust and verification will make you go back to one site rather than another as you know the stories there will be more accurate (note breaking news should be published first and verified second, with appropriate caveats).
- This is, I think, the real business model for news companies in the future - build a community around news and stories and maybe make a little in advertising, but the real money will come from leveraging the position in the community to offer services no one else can.

18 Feb 09

Alan Mutter’s question backfires

Matthew Ingram at the Nieman Journalism Lab says that Alan Mutter's recent argument against Jeff Jarvis's "free is a business model" ideas isn't looking at the whole picture.

www.niemanlab.org/...lan-mutters-question-backfires - Preview

Matthew Ingram Nieman Journalism Lab Alan Mutter Jeff Jarvis business free free is a business model