Monday, March 15, 2010

Not a Good Business Model

I don't want to harp on the downfall of print media, but this is rather revealing.


Getting people to pay for news online at this point would be "like trying to force butterflies back into their cocoons," a new consumer survey suggests.

That was one of several bleak headlines in the Project for Excellence in Journalism's annual assessment of the state of the news industry, released Sunday.

The project's report contained an extensive look at habits of the estimated six in 10 Americans who say they get at least some news online during a typical day. On average, each person spends three minutes and four seconds per visit to a news site.

About 35 percent of online news consumers said they have a favorite site that they check each day. The others are essentially free agents, the project said. Even among those who have their favorites, only 19 percent said they would be willing to pay for news online – including those who already do.

There's little brand loyalty: 82 percent of people with preferred news sites said they'd look elsewhere if their favorites start demanding payment.

This isn't unexpected. The proposed idea of making your readers pay for online news is a "too late to the party" idea. Why in anyone's right mind would you want to pay, when we have been receiving the content for free for so long? I would chalk this up to being ill-prepared and out of touch which pretty much sums up the newspapers' problems.

I am Frank Chow and I approved this message

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