Conference Summary: New Economic Models for News
The conference began with a point-counterpoint panel discussion between Bernard Lunzer of the Newspaper Guild and John Sturm of the Newspaper Association of America. They discussed the role that government, foundations, conglomerates and local ownership can play on journalism’s future, and how the changing regulatory environment affects journalists, stakeholders and the resulting product.
“Journalism has a bright future but the current environment is bleak … The
future of journalism rests with the front-line journalists and workers.”
Bernard Lunzer
Check back here for our executive director’s notes from New Economic Models for News. Visit the Minnesota Journalism Center for video from the conference and a complete summary of the event.
During the second panel of the day Ted Venetoulis, Robert Lang and Jennifer Towery discussed new ownership models and their feasibility, benefits, restrictions and potential impact on the future of journalism. They looked at a number of recent proposals, suggestions and criticisms to determine the most logical and beneficial models for a variety of news outlets while stressing the importance of local journalism and ownership.
“We need to get past the idea that we cannot, as journalists, go to the government
and ask them to take care of this. The government must provide tools to the industry.”
Jennifer Towery
Joel Kramer and Steve Yelvington discussed new revenue models during the final session of the morning. Kramer pointed to the MinnPost model and its advantages and disadvantages in the wider news world, while Yelvington looked at a variety of models and stressed the keys for a successful business. Both panelists had predictions about which models will and will not be successful in the future.
“Journalism never had a business model of its own, it has always been subsidized by
something else. For a successful business model you have to have a compelling reason
for people to give you money, you must acquire what you sell for less than it costs to
sell it, there must be a structural insulation from commoditization and price wars, and
there must be a way for strangers to find out about it and become customers.”
Steve Yelvington