The business model that underpins print media is under pressure as a result of the competition that is presented by free online media in the form of news sites and blogs. Publishers are grappling with a range of questions:

• Will digital advertising revenue alone support quality journalism?
• Will readers pay for quality content?
• Will micro-payments scheme work on a pay as you go basis?
• What will happen if I start charging for content but no-one else follows suit?
• Can we maintain objectivity within an advertising-only funded revenue model?

The Internet has caused massive fragmentation of the media landscape, bloggers and news sites have sprung up that cater for the most niche of audience groups – this is a good thing. They attract large numbers of readers but few of them are profitable.

In the medium to long term I believe that the blogosphere will face its own challenges when it comes to funding and sustainability. The net result will be drastic consolidation of the blogosphere, which will have a knock on effect for the niche audiences many of which will lose their ‘media’.

There is a simple solution to all of this. Every publisher charges a fee.

Online publishers whether they be heritage media publishing houses that have made the transition to web, new media houses or independent bloggers should charge a micro-fee for their content on a pay per use basis.

Its a win win win situation.

• Readers are served by quality mainstream media and coverage of niche interests.
• Advertising revenue can be devoted to social networks, search, communities, forums, discussions groups and so on.
• Journalists and bloggers get to maintain their objectivity as part of a sustainable and value industry.
• Journalism is sustainable.
• Government, institutions, business, interest groups are held to account by an objective and sustainable Media.
• Consumers make informed evolved decisions based on influence and information, as opposed to mindless subliminal advertising.
• Media becomes a true marketplace – quality shines.

I recognise that there are practical issues associated with this model but for me this is the true evolution of the Internet. A force that has democratised information and influence. Lets now apply a workable marketplace for the influence economy.

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Tags: business, funding, journalism, Media, micro, Murdoch, payments, quality, revenue