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| Home Front: Economy |
| Redesigning the newspaper business model |
| 2005-07-28 |
| The business model used by newspapers in the United States has gone through several market-driven incarnations. And while it is always tempting to suggest that such change is driven by technology, tech always takes a back seat to money. The classical model was labor intensive, based in low wages and minimum skills. A reporter was hired for two things: the ability to find news and the ability to produce voluminous and formatted writing quickly. The classical model was cut in half with the creation of the wire services, whose information sharing model eliminated the need for newspapers to have correspondents far afield, nationally and internationally. Automation did finally matter in the bottom line, the next business model replacing numerous printers with automated systems, typesetters with computers, and limiting non-wire service reporters to just local news and opinion. Hard on the heels of this change came a great consolidation of independent newspapers into large media conglomerates, and the consolidation of news and opinion into a greater whole, known as "info-tainment". But now this model, too, though economical, is failing. Among its problems is that even if local news is published, it is of little value to the reader. Wire service news is both biased and dated, and opinion is knee-jerk and ill-informed. So it is time for a new business model. One that delivers timely, high density, and unique news with informed opinion. To replace the wire services, several hundred original news websites could be organized together to produce their own news wire, like an RSS feed, open to all members of the news service. These would not include mainstream media, just independents from around the world. Emphasis would be on non-mainstream news. Local news would be a microcosm of that. Solicited of ordinary people who could phone in, email or fax local news stories they had witnessed or were reporting. In exchange, they would receive small amounts of money to PayPal accounts, based on the quality and accuracy of their news and their writing style. Literally, 50 cents or a dollar a story. Each "field reporter" would have a byline with a serial number, part of which is their credibility rating, much like an Ebay rating. Higher ratings equal more money. Editorials would be solicited only from experts, such as professionals in that field, and only on the subject of their expertise. Again they would be paid only nominally. Comics could be replaced with independent comics, instead of expensive syndicate comics. The actual staff would be a small number of reporters to fact check and follow-up on major local news stories, mostly by phone, and the editor. Publishing would be similar to today's inexpensive automated system, including distribution and advertisement. A "lite" version with no advertising could be available by subscription. The philosophy behind this new newspaper business model would be with greatest economy, to deliver news not available through other MSM outlets, and local news of immediate import to local readers. Optimally, it consolidates news that could be found on the Internet, but only with hours of surfing, then adds local stories that would otherwise have been missed. In a way, it is a return to the classical newspaper model, with low paid reporters in competition with each other, based in their ability to find news and to quickly produce voluminous and formatted writing. |
| Posted by:Anonymoose |
| #3 Who needs "The New Model"? Look at Rantburg! |
| Posted by: Bobby 2005-07-28 22:26 |
| #2 Technology facilitates the emergence of new models and substantial changes to existing models, and its not obvious what these new models will be until after they have emerged. I have been a news junkie my entire life, but I no longer read deadtree newspapers and generally only read the online versions as a result of a link from RB or the other blog sources I follow. My point is that the newspaper model is dying and will be replaced by news sources that I trust (moreorless) to tell me what I should be concerned about and why. That is, the real value in news is not in the facts of the matter, it is in its significance or lack thereof. This is where the MSM has failed so dismally and why thousands(?) of newsblogs thrive. Then there is the news as entertainment aspect. Once you get used to reading the RB form of the news, complete with ironic pictures, the MSM is just plain boring. |
| Posted by: phil_b 2005-07-28 18:36 |
| #1 Heck the old model was newspapers as pure political broadsides for the party. It wasn't till later in the 19th century they were considered as an independent source of revenue. Now they've just reverting to their original models. |
| Posted by: Glater Uninter1262 2005-07-28 16:36 |