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A New Future of Journalism

A New Future of Journalism . By: Matt Couto , Yuko Inoue, Sarah Spitz, Megan Stacey and Dan Taekema. DEVELOPMENT. Source. Source. HOW DID WE GET HERE?. Street corner and messenger model Advent of the Internet Acceptance of a “digital age” Movement of content to online spheres

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A New Future of Journalism

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  1. A New Future of Journalism By: Matt Couto, Yuko Inoue, Sarah Spitz, Megan Stacey and Dan Taekema

  2. DEVELOPMENT Source Source

  3. HOW DID WE GET HERE? • Street corner and messenger model • Advent of the Internet • Acceptance of a “digital age” • Movement of content to online spheres • Revenue via digital advertising • Fall of online ads • Alternate revenue streams • Reader subscription

  4. PAYWALL MODELS IN THE INDUSTRY

  5. A BRIEF RUNDOWN...

  6. HARD-PAYWALL MODEL

  7. HARD-PAYWALL MODELEXAMPLE: THE WALL STREET JOURNAL

  8. Case Study: • One of the first news organization to set up a paywall. • Hard style paywall. Readers pay to access all content. • Daily access costs £1 (about $1.66 CDN) • Paywall has been considered a failure by many. • Described as “too harsh” and “alienating to readers” -Krashinsky, Susan. "Website pay wall drops Times of London readership." The Globeand Mail. http://www.bandbassociation.org/

  9. Case Study: Results: • Lost over 4 million online readers • Page views dropped by 90-per-cent -Erik Schonfeld, "The Times UK Lost 4 Million Readers to its Paywall Experiment.” TechCrunch.com • Statistics from 2013 show approximately 2,100 subscribers are joining per month - Patrick Smith, "Three years on: Has the Times digital subscription project worked?.” The Media Briefing. http://www.bandbassociation.org/

  10. Case Study: Reasons for failure: • Too harsh of a paywall, people can find same stories elsewhere online for free • Loss of readers kills advertising potential which leads to further losses in subscription revenue. -Phillip Crawley, September 26, 2013, phone. http://www.bandbassociation.org/

  11. METERED-PAYWALL MODEL

  12. METERED-PAYWALL MODELEXAMPLES: NEW YORK TIMES, NATIONAL POST, GLOBE AND MAIL, OTTAWA CITIZEN

  13. CASE STUDY: • Established a metered paywall in March 2011 • Options range from $3.75 per week to $8.75 per week depending on what you want access to • 10 complimentary articles per month • Considered by many to be the most successful paywall to date -Sulzberger, Arthur. "A Letter to Our Readers About Digital Subscriptions." The New York Times. http://goo.gl/wUv5Ii

  14. CASE STUDY: Results: • As of August 2013 The New York Times has 699,000 online subscribers • Approximately 100, 000 subscribers are joining each year • The paywall brings in $150 million each year -Ryan Chittum, "The NYT's $150 million-a-year paywall." Columbia Journalism Review. http://goo.gl/wUv5Ii

  15. CASE STUDY: . Why has the paywall been such a success? • The New York Times has an international audience • It’s “elite journalism” high quality journalism that many readers consider worth paying for –Dinah Metah, "Newspaper Paywalls Canada: If you Build it Will They Pay?.” Huffington Post. http://goo.gl/wUv5Ii

  16. CASE STUDY: • Toronto based news corporation that owns numerous papers including the National Post, Montreal Gazette and the Ottawa Citizen. • Instituted a metered paywall in 2012 • 15 free articles per month • Initial online access costs 99 cents per month • Rises to $9.95 per month (or $99.50 per year) -Tencer, Daniel. "PostmediaPaywall: National Post, Ottawa Citizen, Vancouver Province and Vancouver Sun Enact 'Metered' Paywall System." Huffington Post. - http://goo.gl/tJVWAv

  17. CASE STUDY: Has the paywall been a success? • It’s too early to tell. • Unlike the New York Times the Citizen won’t draw and international audience, and it doesn’t have the resources to produce ‘elite’ journalism like the New York Times. • However, the Citizen can draw on a large local audience which may make the paywall a success. http://goo.gl/tJVWAv

  18. Modeled off of New York Times system • Metered paywall at $20/month with 10 free articles • Full-time print subscribers get free online access, which has increased print subscriptions • Successfully hooks consumers with 99-cent, month-long trial

  19. Globe released a performance report in February 2013 – four months after the paywall launch • 80 000 online subscribers (closer to 100 000 today) • No negative impact on advertising market at all, according to VP Andrew Saunders • Daily unique visits remained at 4 million a month because consumers have 10 free articles • Despite Saunder’s claims, a June 2013 report showed a 40% decrease in online readership

  20. Globe publisher Phillip Crawley said that where paywalls haven’t worked, it’s because “the content is just not good enough” • Globe is “worthy of the charge” as it offers unique content, specifically: foreign bureau coverage and insider columns on business and politics • People need to feel the content can’t be found elsewhere, or they will consume the free version • Globe’s news quality comes from its attempt to target a specific audience

  21. Globe attempting to gain extra revenue by diversifying its products • Globe2Go • Kindle/Ebook Paper • Ebooks/Article Collections • Feeds/Newsletters • Reprints • Art Store

  22. “Paywall partnership” with the New York Times? • Globe offering a deal along the lines of a cross-media “package” • Option to subscribe to the New York Times is listed on the Globe products page • Subscribers of the Globe get a discount on a subscription with the New York Times

  23. PREMIUM CONTENT MODEL

  24. PREMIUM-CONTENT MODELEXAMPLE: THE BOSTON GLOBE

  25. CASE STUDY: • Header ↑ shows keenness in audience engagement

  26. ACCESSIBLE READING • IN GENERAL • Content without the icon • e.g. Stock portfolio, non-specialized pieces

  27. ACCESSIBLE READING CONT’D • IN SPECIFIC CASES • Disasters • Elections • Competitive advantage • e.g. NYT shut down

  28. THE NYT SHUT DOWN

  29. WHY PAY? (via the Guardian) • The article mentioned WSJ to make the • following arguments • Size matters • Specialized content helps

  30. SPECIALIZED CONTENT…WHO’S THE AUDIENCE? • “Meet the Reader” (under audience) http://www.wsjmediakit.com/newspaper • The Global Edition (U.S., Asia and Europe) • 80% Male • Avg. age 51 • Earn avg. $245,766/yr

  31. WSJ DIGS(↓Global ed. stats for advertisers)

  32. Subscription # History • One of the first U.S. papers to install a paywall- 1997 (a year after the 1st - Slate) • WSJ.com reaches 200,000 online readers • 1998 • WSJ.com reaches a million online readers • 2007

  33. Back in 1997...(via Wayback Machine)

  34. When #s compared...

  35. SYSTEM CHALLENGES • Creating connection with readers • Diversifying content • Convincing audience of content value • Economic climate – rising costs, few alternatives

  36. Source

  37. OUR MODEL: The Basics • Digital subscription divided by sections • News $3 • City $3 • Arts $2 • Business $2 • Comment $2 • Life, Auto, Travel, Technology etc. $2 • Each section has its own cost, which would be significantly lower than paying for the whole paper • 5+ sections (entire paper) can be purchased for $10 • Gives more “bang for your buck” • Receive only the content you deem valuable

  38. OUR MODEL: The Specifics • Metered paywall – receive standard 10 articles per month before subscription • Netflix model • Trial month • Hassle free monthly payment and renewal • Capitalize on local audience • City section • Free access to obituaries • Discounted rate for students

  39. WHERE DO WE GO FROM HERE? • What options are available for the news industry to stay viable and maintain its standards at the same time? • What determines which sections you read? What makes you click a link? • What would entice you to purchase a digital subscription? • How do you define quality news content for a section of a local paper? • What is the most you would pay for a digital subscription?

  40. Phillip’s Audio, just so we don’t lose it

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