|Scooped by Robin Good|
Vincenzo Marino does an excellent reporting job on the International Journalism Festival news site, by summarising and distilling the good stuff emerging from an interesting and sustained debate on Twitter (Business Models for Journalism - Storify) on the state of online journalism and its potential future business models, initially kicked off by entrepreneur and Netscape co-founder Marc Andreessen.
Among the highlights, what Andreessen calls “the most obvious eight business models” for now and the future:
1. Quality journalism for high-quality ads
2. Succeeding in making readers subscribe and pay for value products
3. Premium content worth buying
4. Relying on live conferences and events
5. Investing across multiple channels
6. Crowdfunding ("Gigantic opportunity especially for investigative journalism")
7. Offering the option to pay in Bitcoin for micropayments
8. Keeping an eye on philanthropy (like ProPublica and Pierre Omidyar's First Look Media)
One stratospherically important point to take home from this valuable roundup is the following:
"The role played by quality, however, is crucial especially when analyzed in the light of the tendency of the market to expand, creating less accurate content.
The challenge is to make a product (or brand) a point of reference, a lighthouse in the night of uncontrolled content and viral hoaxes."
Informative. Resourceful. Insightful. 8/10
Original article: http://www.journalismfestival.com/news/state-of-the-media-and-possible-business-models/ by Vincenzo Marino
Reading time: 12 mins.