Readers should fund online media and that includes journalism and blogs

Daniel Young — Fri, 23 Oct 2009 08:04:19 +0000

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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Readers should fund online media and that includes journalism and blogs