8 News media business trends for 2010
Dec. 23, 2009 With the news industry struggling to find new revenue streams that can reshape their broken business model, 2010 will be defined by experiments in news media monetization. This will also include content that is guided more than ever by the audience and ad revenue.
This coming year we will also see the results of news organizations putting pay walls up, as well as new experimental models like accepting Web donations from readers — some of which may prove to be successful. Below are eight emerging news media business trends to look for in 2010.
Here is a sample of the must-have traits Lavrusik mentions in his article:
4. Growth in Hyperlocal and Community Models
With many traditional and regional news organization’s facing cutbacks in staff and in some cases closures, local and community-based models and startups will look to fill the gap in content. In fact, some hyperlocal publication models have done pretty well in comparison to most. This year we have seen the launch of many hyperlocal online news start-ups from the big Texas Tribune to the smaller Oakland Local, often relying on grants or funding from wealthy donors.
Michele McLellan, a news consultant who blogs at the Knight Digital Media Center, said the sites that will succeed going forward are sites that are highly entrepreneurial and community-driven with a tech expertise. The best example she’s seen is that of Oakland Local, which is a blend of building community and a focus on using technology to gather and report news.
David Cohn, founder of community-funded reporting startup Spot.Us, said there is a huge opportunity in hyperlocal news “that if missed is like giving away a golden goose.” However, the problem he said is that traditional news organizations still need to let go of the idea of “big journalism.”
“Whether traditional media companies or small media companies pioneer it – there is a future,” Cohn said.
To see the other new media business trends for 2010, click here.Article courtesy of the Mashable.com.