“In an era where print advertising revenue continues to decline rapidly and the lion’s share of digital advertising dollars are sucked up by Google and Facebook, it’s more important than ever for news organizations to focus on developing as many revenue streams as possible,” according to Editor & Publisher.
“Some, like the Atlantic, have created significant revenue through a focus on events. Others, like the New York Times, see a sustainable future provided by a mix of digital subscriptions and advertising revenue (just because it’s not as beefy as it once was doesn’t mean it can’t be part of the mix). ProPublica has had great success going the philanthropic route, while the Guardian has garnered significant revenue by instituting membership programs and simply asking for donations from readers.
“‘All good journalism is good. Support it by philanthropy, advertising, events, reader revenue, or by winning lottery ticket,’ media analyst Ken Doctor wrote in a recent edition of his Newsonomics column. ‘Given the peril, we all need to look more widely for support, not more narrowly.’
Examples include philanthropy (leading the charge is the Salt Lake Tribune); government funding (in New Jersey “a new approach has taken shape”); paywalls; and “from coffee shops to T-shirts.” Or “beers and grub.” Ha!
The rest of the article is here.