News organizations might benefit from new ways to handle money. (Image by Tracy O via Flickr)
Fundamentally, journalism is a community service. That mission, and the values associated with it, typically are what make journalists passionate about journalism — and also often wary of the business side of news (advertising, market research, etc.). And as smart as most journalists are, most of them also don’t really seem to have the mindset or skills to manage the business side of a news operation.
So why not figure out a new way to conduct the business of news? Especially, new ways to handle the money?
Last Friday, at the Journalism Innovations II conference (held at the University of San Francisco), I learned about an interesting effort to create a new kind of business structure that could provide a way to support journalism and news.
In the morning plenary, Hollie Kernan (news director of San Francisco public radio KALW-FM) mentioned that she’s been taking a close look at the Low-Profit Limited Liability Company (L3C) model proposed by Robert Lang, CEO of the Mary Elizabeth and Gordon B. Mannweiler Foundation…
A month ago, as I wrote earlier, I was willing to pay $10/month to subscribe to the Wall St. Journal on my Kindle. I canceled that subscription last week, after the release of the WSJ iPhone application that provides free access to all WSJ content.
The iPhone app carries ads at the bottom of the screen, but I don’t mind. I also get audio and video content from WSJ through the app, too. Meanwhile, Subscribing to WSJ.com currently costs $89 per year. ($99 per year if you want the print edition, too.) And, as I noted earlier, WSJ’s own subscription page currently doesn’t even mention subscribing via Kindle.
Apparently WSJ plans to start charging for some of its iPhone app-delivered content at some point. Wired.com reports:
“There is free, and then there is free, apparently. A Dow Jones spokeswoman wrote to Wired.com Thursday to say that the company does intend to charge for some content consumed on smartphones ‘so we have a consistent experience across multiple platforms,’ though the company is ‘still exploring its options’ and isn’t saying when that might happen. They would offer ‘both free and subscription content, so the idea is to mirror the experience on the site,’ the spokeswoman said.”
“…Eight months after it released its Blackberry app Dow is still saying that ‘Full access to subscriber content (is free) for a limited time only.’ There is a free mobile site that has a large sampling of the Journal’s content. …We’ll see if the almost certain bad will of a giveth and taketh away revenue model is worth trying to put the content genie back in the bottle.”
Still, I think Printcasting founder Dan Pacheco got it right last night on Twitter: “Content pricing must be consistent across platforms. And it shows how charging for print will get more awkward day by day.”
…After I originally published the above story in Poynter’s E-Media Tidbits yesterday, Ryan Chittum of Columbia Journalism Review took what I said as an excuse to rally for WSJ to “hold the line” on charging for its content.
The iPhone is due for a major operating system update, and this week Apple revealed what the iPhone OS 3.0 software (due to be distributed summer 2009) will allow users and developers to do.
In a nutshell: Plenty.
But even more importantly: New iPhone APIs offer exciting opportunities — especially for news orgs and other online publishers… Continue reading →
As the traditional news business model continues to stumble, what people fear losing most is investigative and enterprise reporting — especially on the local level. This type of journalism is notoriously difficult, time-consuming, risky, and costly. It’s not something that amateurs or concerned citizens can readily handle. If we want it to continue, we need new ways to support it.
That’s what David Cohn is trying to do with Spot.us, which launched yesterday. This project, funded by the Knight News Challenge, is attempting to support local investigative journalism through crowdfunding. Poynter’s Ellyn Angellotti described this project her recent centerpiece feature. Here’s Cohn’s short explanation of how Spot.us will work:
Yes, crowdfunding is a very different approach to journalism. And the unfamiliar always seems potentially dangerous. That’s why most mainstream media articles so far about Spot.us, like this one from the New York Times, include some variation of this caution: “Critics say the idea of using crowdfunding to finance journalism raises some troubling questions. For example, if a neighborhood with an agenda pays for an article, how is that different from a tobacco company backing an article about smoking?”
That’s a valid concern, but I think it must be considered in context…