I am reading with great interest the New Knight Foundation report on the viability of news and in particular how the study reports some of the ways, beyond quality journalism, that nonprofits in particular are striving for financial stability.
In particular the authors say that high-quality reporting alone will not create an organization that can sustain its ability to produce news in the public interest.
Instead they add, successful news organizations,have to act like digital businesses, making revenue experimentation, entrepreneurship and community engagement important pieces of the mix.
Such that understanding how to create social and economic value and how to adapt and innovate are just as important as good content.
It is a fair point.On the fact that quality journalism doesn't pay the bills,I can concur and what they suggest is the following
1.A business development strategy and capacity to execute it.
2.A high level of audience focus and innovative approaches to build community engagement.
3. Technological capacity to support and track engagement.
Whilst this ia all well and good,it seems rather ironic that none of the seven local sites that they focus on in the study,all in the US,are making a sustainable living.
We live in hope