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Free content direct from news sources is “how to get there from here” 4/1/07

Posted by Steve Boriss in Money, Structure.
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Silicon Valley Watcher’s Tom Foremski frames one of the biggest dilemmas in the future of news — how to fund those who create content: “Online advertising models can barely support popular bloggers, and that is the cost of one bedroom plus a laptop plus an Internet connection plus coffee…Even if online advertising revenues were to double, it still wouldn’t meet a fraction of the costs of running New York Times’ global network of news bureaus. ‘You can’t get there from here’ is my favorite American saying and it aptly describes the economic chasm separating old media from new media…What we need is a better value recovery mechanism for content creators.” In my view, this value recovery will come primarily from the collapse of news source costs. There has never been a shortage of people and organizations with a story they want told, many of which will gladly pay for the privilege (e.g. think of hired PR firms). Much of this material is relevant, credible, and entertaining. Now that it will be available directly to the public and to online aggregrators, the cost of most reporting will become nil. And, for those who do not like the self-serving slant of this “news,” they will find material from those who are equally willing to rebut it, for free.

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