Media Leaders Form Journalism Online, LLC
Company Will Be Global Platform for Easy Payment Option Enabling New Revenue Models For News In Time of Crisis
‘Strong interest’ already expressed by major newspaper, magazine companies
NEW YORK, April 14, 2009 – Citing “the urgent need” for a comprehensive, immediate plan to address the downward spiral in the business of publishing original, quality journalism, experienced journalism and media industry executives Steven Brill, Gordon Crovitz, and Leo Hindery today announced the formation of Journalism Online, a company that will quickly facilitate the ability of newspaper, magazine and online publishers to realize revenue from the digital distribution of the original journalism they produce …continue reading Media Leaders Form Journalism Online, LLC
Here is what the above press release boils down to:
“…there is an urgent need for a business model that allows quality journalism to be the beneficiary of the Internet’s efficient delivery mechanism rather than its victim,” said co-founder Steven Brill
“We believe we have developed a strategy and a set of services that will establish that model by restoring a stream of circulation revenue to supplement advertising revenue, while taking advantage of the savings to be gained from producing and delivering content electronically.”
The company will offer four key services to publishers.
1. A password-protected website where member publishers will share revenue
2. Journalism Online will aggressively market all-inclusive annual or monthly subscriptions to said website
3. Negotiate wholesale licensing and royalty fees with intermediaries such as search engines and other websites
4. Provide reports to member publishers on which strategies and tactics are achieving the best results in building circulation revenue while maintaining the traffic necessary to support advertising revenue.
I’m interested to hear what their opinion is on the inherent value of general interest news versus business news like FT.com or product reviews like ConsumerReports.com. I imagine we’ll soon find out either way.
RELATED:
Brill, Crovitz, Hindery Launch E-Commerce Venture For News Business -from paidcontent.org
On object lesson in walls -from Buzzmachine
Media Executives Plan Online Service to Charge for Content -from NYTimes.com
Related posts:
- An Evening with the NYTimes.com Video team – Today 6pm
- Great Discussion About “Old” Editors Being Able to Manage The Newsrooms of Today
- Digital Advertising 101 for Editors and Entrepreneurial Journalists at Columbia Journalism
- Online Advertising Prediction for 2009 – It Fails
- Journalism Happening on Twitter
Sounds like PayCheckr.com