Since the first blog, there has been a substantial amount of progress in my study with Professor Pantic. I have been able to thoroughly examine and interpret the business models that are employed by local news organizations across the country.
From the information that we have obtained, I think it is interesting how these distinct newspapers and digital-only news organizations aim to make a profit. From the interviews that were conducted, it is clear that the organizations under study don’t have a specific business model to maintain financial stability. Instead, they are all experimenting with different strategies like reader donations, organized events, paywalls, and more. However, it is also evident that many of these news media organizations do have one business strategy in common, which involves relying on advertisements.
The only question I have regarding the data that we’ve collected is how long will it take for these news organizations to actually gain sustainability and notice an increase in revenue, with the mentioned strategies. While this question is hard to answer, I assume that these strategies will eventually bring prominence amongst news organizations.
The title of my project with Professor Pantic is, “Looking for a Sustainable Newsroom model: The Case of U.S. media.” The purpose of the project is to explore and analyze how local news organizations maintain economic viability in today’s media environment, which is extremely competitive. With that being said, the main purpose of the study is to examine business models employed by newspapers and online news organizations, as well as provide guidance to these organizations on how to remain engaging and make up for revenues they may have lost in today’s media market.
From this research study, I expect to compare data and most importantly, learn about the sources of revenue that the news organizations in question rely on, as well as current advertising trends, economic challenges media face, and strategies they employ, etc. Furthermore, I hope I complete this study with a better understanding on how the current media environment operates.
To answer our research questions, Professor Pantic has conducted a series of interviews with media representatives of news organizations across the country. From that information, I have helped transcribe the interviews and I will begin to collect a great amount of data and evaluate the common themes.