On How I Read, Part 4

Here’s a lengthy excerpt from a blogger I admire very much:

 To change destiny, journalists need to fundamentally rethink their business:

More and more journalism will be small endeavors, often with only a single writer. The writer will have a narrow focus and be an expert in the field they cover. Distribution will be free (a website), and most marketing will be done through social channels. The main cost will be the writer’s salary.
Monetization will come from dedicated readers around the world through a freemium model; primary content will be free, with increased access to further discussions, additional writing, data, the author, etc. available for-pay.
A small number of dedicated news organizations focused on hard news (including the “Baghdad bureau”) will survive after a difficult transition to a business model primarily focused on subscriptions, with premium advertising as a secondary line of revenue. This is the opposite of the traditional model, where advertising is the primary source of revenue, with subscriptions secondary.

The basic point that Ben Thompson is making in this post is that quality journalism will have to be paid for in the future. Or at any rate, that’s my key takeaway from that excerpt, and the reason I cite that point is because if you are a serious reader, you might want to consider paying for some of the news you read.

Here’s a list of entities I subscribe to right now:

  1. The Economist
  2. The New York Times
  3. Stratechery
  4. A digital subscription to the Business Standard

I also get Livemint delivered home every day, along with the Times of India.

Besides this, I would happily pay for (if only I could afford it, alas) the following:

  1. The Financial Times
  2. The Ken (India)
  3. The Wall Street Journal
  4. Bloomberg View

There are others, of course. This list is neither comprehensive nor ideal, and will probably change tomorrow. But if you are looking for sources to read, and wouldn’t mind paying for it, this would be a good place to start.

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