An economic model that will work for newspapers
My favorite columnist, Alex Beam of the Boston Globe, has struck upon a way for 21st century hacks and scribes to make money -- the way they always did, until 1700 or so. What worked for Catullus and Chaucer can work again, with a few minor amendments to journalistic ethics.
I want a patron, a fabulously wealthy rich man or woman, to subsidize my writing career for the next five years. In olden days, Greek poets produced fulsome odes, called panegyrics, celebrating the virtues of the men and occasionally women who paid their expenses. For example: "Great is thy wisdom and the bounty of thy loins, [YOUR NAME HERE]."Once a year, I agree to attend a function at your mountain aerie in Vail or Telluride, or at your lakeside "inholding," tucked inside a vast, national park. You can show me off. "Here's my writer," you will say to your plutocrat pals, as if you were boasting of a freshly acquired Bugatti, or a rare ocelot stolen from a Third World nature preserve.
Third World, indeed.
Comments
Why pay for the cow if you can get the milk for free? Shut down your website or charge people to view it.
If not, there will be no such thing as a newspaper in any market in 5 years.
Posted by: Ed | May 20, 2009 12:08 PM
In modified form, this appears to be similar to the concept introduced in a bill authored by Senator Ben Cardin. In essence, the bill would allow newspapers to be owned by tax-exempt 501(c)(3) corporations. Contributions to these corporations would be tax-deductible. Thus, as a practical matter, we would all be the patrons of our local news organizations and columnists.
Posted by: Stuart Levine | May 20, 2009 6:46 PM
Ed,
How much are you willing to pay for the baltimoresun.com? $10/month? $50/year? Suppose the Sun were lucky enough to get 500,000 people to subscribe (completely unrealistic given that its Sunday circulation about 375,000). Do the math. Do you really think that $60,000,000 per year (500,000 people x $120) could sustain it? I don't. A subscription model does not work.
Posted by: WillClark4HOF | May 21, 2009 9:43 AM
http://www.boston.com/ae/media/articles/2009/06/19/paper_vs_computer_screen/
more from ALEX BEAM
Posted by: dan bloom | June 19, 2009 1:22 AM
Here is another business model for newspapers -- increase prices and don't tell anyone. When the bill for the next four weeks home delivery of the Sun arrived yesterday it showed an increase of 6%. A call to the Sun's "customer satisfaction" phone line confirmed an unannounced price increase effective in the middle of the period, meaning at least a 15% price increase and an intent not to inform customers in advance. Did you ever wonder why newspapers seem to be in trouble?
Posted by: BCFrame | July 3, 2009 8:50 AM