The Economics of Investigative Journalism: What Price is Right?
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Advertising has always subsidized the cost of investigative journalism -- also called accountability journalism -- so the price that people would be willing to pay for this costly and valuable service has never been established in the marketplace. Now that price is being negotiated by all the players in the digital world -- the publishers, the public, and government policy makers.
The Economics of Investigative Journalism: What Price is Right?
- 1. The economics of accountability journalism: What price is right? James Breiner, Universidad de Navarra, Spain @jamesbreiner
- 2. 20 years as reporter, business editor, head of investigative team
- 3. 11 years on the dark side, publisher of a business weekly
- 7. Dominant duo 7 56% of mobile advertising globally 40% of digital advertising globally
- 8. What you think you know about the Web is wrong. Tony Haile CEO of Chartbeat Of 2 billion visits to hundreds of sites, 55% lasted less than 15 seconds
- 9. Few spend more than 2 minutes a day
- 10. Aargh! 10 Piracy (aggregators) Bots, click fraud Ad blockers
- 11. ROI: Billions in taxes recovered, fines levied
- 13. Radical sharing Lone wolf journalists share their data, help each other Media organizations work together, across borders, across cultures
- 14. Graphic: Figures are euros per capita. From Nielsen & Linnebank (p. 16).
- 15. Distributed content Facebook Instant Articles Google Accelerated Mobile Pages Snapchat Discover Instagram Apple News Etc. + Faster load times for pages + Gives publishers some money + Extends the reach of publishers - Dilutes importance of their website
- 16. Go for scale, eyeballs, CPMs like BuzzFeed Or for engagement, relationships like Texas Trib
- 17. 17 14,500 partners pay $66 a year Value proposition is editorial independence $800,000 a year, 1/3 of budget Less than 1% of audience 54 employees Relationships, not eyeballs Journalism in spite of it everything
- 18. Launched in Holland in 2013 Initial crowdfunding $1.7 million 40,000 subscribers pay $66/yr No ads, value prop. editorial independence 14 full-time journalists, 22 correspondents
- 19. Launched in 1999 by two journalists published in Tamil, Chinese, Malay, English 9 million visitors a month 16,000 subscribers pay $40 for English version
- 20. Expenses of senators, congress 10 Harleys for senators Syndicated to major media
- 21. Should you charge for online news? 21
- 22. Pay wall service merged with Tinypass 1,200 news media on four continents $40 million in revenues for Piano in 2015
- 23. What am I paying for, exactly?
- 24. 24 iTunes for news 600,000 users in Germany Holland Pitch in U.S.: no ads, no clickbait $3.3 million from Axel Springer, NYT
- 25. Who pays for accountability journalism and how much? Public subsidies- BBC, Nordic countries Non-profits, grants - local media, public radio Relationship model - Texas Trib, MinnPost, eldiario.es Subscription model - De Correspondent, Malaysiakini Paywalls - bundled digital and print (survival) Blendle - iTunes for news
- 27. Lets continue the conversation in Pamplona. Come visit James Breiner, Universidad de Navarra, Spain @jamesbreiner jamesbreiner@gmail.com