If you don’t have revenue, you don’t have a product: It’s one of the first things I tell my clients. With the news media facing extreme economic pressure in many countries, I was keen, in my recent report for the Reuters Institute for the Study of Journalism, to focus not only on editorial innovation but also the commercial innovation that is supporting new formats.
I found news organizations around the world answering the questions of how to monetize radically distributed content strategies, grappling with changes in social media use, and finding a new way to connect with their young audiences when Facebook no longer reached them.
Opinion: Journalists, and their bosses, must embrace encryption to protect themselves and their sources.
In its attempt to find a new business model for publishing after its previous one failed to make money, Medium is rolling out a membership program that will cost $5 a month to start and sounds like a little bit Spotify, a little bit Patreon, and a little bit Pocket. Founder and CEO Ev Williams wrote in a blog post Wednesday:
For $5 per month (introductory price), you’ll get two upgraded aspects: