Saturday, August 30, 2008

Who will pay?



Who will be producing the news everyone seeks to aggregate without paying for?

With organizations unwilling/unable to pay for news’ production, and readers unwilling/resistant to pay for news consumption, will there continue to be news to aggregate?

These were questions from Donna Bogatin who finally concluded in her article that: news may be a commodity, but valuable commodities cost dearly.

In this article she also comments on Time magazines latest changes, who see 'you' as the future of the industry and this is reflective of the changes occurring in the media industry. Current technologies have made news and information more accessible encroaching on traditional means opportunities to make money.

(to see the full article visit: http://blogs.zdnet.com/micro-markets/?p=852")

And this along with the discussion that was held at the Knight Fellowships 2007 Symposium, which stated:

While the problems plaguing the print newspaper industry are clear—the bulk of its traditional revenue base is shrinking as paid advertising shifts to online web portals—no one, so far, has figured out how to ensure the survival of independent journalism in its broadest sense, and the critical role it plays in shoring up a democratic society.

(To see all information visit, http://images.google.com/imgres?imgurl=http://knight.stanford.edu/lectures/knight/2007/images/symposium07-poster.jpg&imgrefurl=http://knight.stanford.edu/lectures/knight/2007/&h=291&w=225&sz=26&hl=en&start=13&um=1&usg=__lLNz94JOeGXaGSCeLXqhXv-ONtw=&tbnid=uha6S2dVd7kRsM:&tbnh=115&tbnw=89&prev=/images%3Fq%3Dwho%2Bwill%2Bpay%2Bfor%2Bjournalism%26um%3D1%26hl%3Den%26sa%3DN)

It is evident to see that WHO will pay for journalism in the future is of concern.

Previously, newspapers made/make the majority of their money from advertising. The customer's payment at the newsagent makes up only a small fraction of this income.
This was/is a profitable business model so long as print remains the dominant medium for written communication in news media world. However, contemporary times have begun to see this is not the case.

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