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Hyperlocal news revenue models will exclude traditional news outlets 3/28/07

Posted by Steve Boriss in Journalism, Money.
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NY Tribune editor Horace Greeley once said, “The subject of deepest interest to an average human being is himself. Next to that he is most concerned with his neighbors. Asia and the Tongo Islands stand a long way after these in his regard.” Yet, we have been stuck in a world in which metro areas have been the most dominant local news geography, reflecting the economies of newspapers and broadcast, not public tastes. With the new, negligible news distribution costs of the Internet, “hyperlocal” news that covers areas as small as neighborhoods or zip codes is almost certainly going to be a big part of the future. This is news that affects people directly and personally. But, I suspect this article from the American Journalism Review has it all wrong. The most likely model will not provide a revenue stream for traditional news outlets – instead, articles will come in from citizens as a labor of love, while companies that provide attractive user interfaces and related services will prosper. Think Social Computing sites like MySpace, which essentially provide hyperlocal news about friends and relatives.

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