At least, if we don’t stand up now. Because as you might notice, the way we consume news has changed over the last years. It is not you sitting in a chair, trying to hold the newspaper and turning the almost unwieldy pages at the same time, while you’re drinking your morning coffee. No, – you are still drinking your morning coffee – but you are scrolling down your newsfeed with just one finger on a device that is almost the same size as your coffee mug.
In this blog, I will explain why the future of journalism is in danger and why it is important for us – as the future – to find a working business model and what we need to do to make it a successful one. I will address the switch from written to online news, what the consequences are for us by gather news in different ways and what native advertisement has to with this all.
TThe online platforms are replacing the written papers, but if we are not starting to act up, there will be no newsfeed to scroll down anymore.
Let me explain it to you.
Over the last years, the way we consume our news has changed drastically. We don’t take the time to read a whole newspaper anymore. People want to read about topics they are interested in, we filter fast, and that is something we have always done. But now, we don’t have to buy the whole newspaper anymore. We have not only more access to what we are interested in, but we also consume it way faster. All kinds of new information can be uploaded in a second and that’s why the audience for the news companies gets bigger and bigger, which is positive. But, the problem is that the revenue is still shrinking. Nicco Mele ’s (academic writer, businessman, and expert on our fast-moving society) anticipants; if we don’t have a business model that will save the decline of the revenue in the next 3 till 5 years, at least one-third of maybe half of our 50 biggest news companies will go out of business.
Online platforms & news shown on TV are based on what’s written in the actual newspaper. We need our reporters!
The news organization’s main income is advertising. Whoever wants something written in the newspaper has to pay for it. But now, companies can upload their own content by uploading and sharing their information on their own webpage and that’s why newspapers are losing their main income. This shift ensures that news companies have to come with new solutions to make money. One way is Native advertisement. But is that enough to pay the news reporters? and is Native advertisement true journalism?
Native advertisement
Native advertisement is mostly used by social media feeds. These ads are used to match the look, feel and function of the media format in which they appear. Yes, it a good way to make money, but I believe that these kinds of advertising have nothing to do with journalism itself and I agree once again with Nicco Miele that if you use advertisement as a model to earn money, that ok, but don’t let it overshadow the news itself. I believe that nowadays it is hard to find the real news between all those advertisements.
Searching for a solution
Also, I do believe that people are willing to pay for newspapers to receive news, but I think that there are a couple of things you as a news provider has to think about.
Looking at these 10 successful business models from different companies, such as The red Bulletin (magazine), they all have similarities. I summed up some important points I believe are necessary to make a successful business model for journalism. Another option is what The Guardian did; Transforming to a non-profit organization.
“It’s key to have a good knowledge of your customers to build a successful business.”
www.whataventure.om
- Free is the core, benefits (premium version) comes with money. People are willing to pay for extra news, puzzles or none-advertisement pages, but they need to get triggered. You have to show them first who you are and then what the benefit is of taking a subscription.
- Crowdfunding. People love to be a part of something bigger, they love to help someone in need, but they have to know it first. Tell your story and how someone can help you. But don’t ask for the amount, give people options how much and how often they can give. In this way, people feel that they have control over there money and that there are not “stuck” with it.
- News reporters. We need our news reporters. Because without them, there is no news. Online platforms and news on TV rely on the stories of our news reporters. It is the only way to make sure what you tell, write or show is trustworthy, But without money, we can’t afford them to do their job.
As you have read, the time is ticking. But I believe that if we can build a business model with Free isAs you have read, time is ticking. But I believe that if we can build a business model with Free is the core, Crowdfunding, and News reporters as the core, we have to find a way to survive. Because what if you walk down the stairs, make a fresh cup of coffee, ready to read the latest news and there is no news to scroll down…
~ Daphne Nierop, DFreshWriting
Daphne Nierop 