Listening to Leonard Downie, Jr. talk about the changing
business model of journalism was very exciting. After
reading his article in the Columbia Journalism Review
I’m even more intrigued by the challenge of keeping
journalism alive as a profitable business.
Today going over business models in my marketing class I
began to think about how this applies to journalism. I think
journalism is struggling to create new forms of value for
its customers but even more than that it seems to struggle
to make a profit out of this value. Charging for online
content seems to be one recent development to try to address
this issue.
I’m expecting to see many newspapers completely cut
paper production as the yearly printing costs for the NY
Times are the same as buying each reader a kindle. I also
think Twitter is the first one of its kind of combine social
media and journalism, that trying alternative formats and
models will be very successful.
Seeing how media companies work to collaborate and compete
with other companies has been fascinating as a business
student. I want to take a closer look at the promotion and
distribution models of media outlets and learn as much as I
can about a very unique business model.
