Finding money to pay for news is a big issue troubling media executives worldwide, a constant in journalism-related conferences, and it’s not likely to disappear recently. That’s because the way we consume news has changed.
According to Enter Stephen Quinn and Jeff Kaye in “Funding Journalism in the Digital Age”, ““Emerging technologies and changing social trends began to disrupt established media business models long before the latest crisis on Wall Street,” It is clear that the journalism industry is transitioning away from print and TV distribution to mainly digital platforms.
Before rethinking how online media change their business model, here are some useful advice which may help journalism funding in the digital age.
Be specific in your application.
The easy access of online content to globe audience means that the increased competition among news sites publishing stories on the same topics is driving down the value of news. That’s the reason why you need to specific your news app in order to attract a specific group of target audience. It can be a special news angle or an online community which allow users to leave comments or debating for controversial news. The degree of attention equal to network traffic which can directly change into funding.
User-generated content has become “a central element of the news gathering process,” says the controller of BBC World Richard Porter, in an international study. Reasonable use of user-generated content can significantly reduce the news cost. In digital ages, the public trend to seeking breaking news from social media, thus sourcing and content integration from social media may help you publish the story one step forward. Buying news from the mass public is much cheaper than field interview, the only thing you need concern is ensuring the authenticity of the news.