These days every medium in the media world is trying to innovate to increase revenues. I came across three routes which I have summarized,
- Print going purely online is not all that new in the US. This article suggests that a newspaper going completely offline to online can reduce their staff strength to 20%. Needless to say the pure online revenues would not come anywhere close to the offline revenues (as of now)
- New York Times is considering a $5 monthly fee to access their online content. The survey carried with their print subscribers asked if they were willing for a $5/month for online only subscribers or $2.5/month for print subscribers. Wall Street Journal has a revenue of $200m a year from advertising and subscriptions.
- Online going offline! The Printed Blog attempted to print all interesting free blogs on paper. The reason being advertisers were willing to pay more for print than online. Unfortunately this experiment came to an end,
I thought maybe this would translate into a new, venture-funded model for newspapers, but no one believes print news will survive. If I had a penny left, I would bet newspapers will survive in printed form.
– Joshua Karp, founder of The Printed Blog, throws in the towel