The value of local journalism and news reporting sources is becoming more apparent. Bloomberg recently reported on a study done by the University of Notre Dame and the University of Illinois at Chicago. The report connected greater government abuse to areas without local news reporting services. The report indicated that the chain of awareness is critical to bringing balance to current and potential government corruption. The chain begins with local reporting services that identify a problem, which gets picked up by larger state news services, which in turn causes positive change.
Why are so many local news services shutting down then? Many publishers are trying to stay afloat with advertising revenue alone. There is a fear to charge the readers and news consumers for their service. This is due, in part, to the open web, all-news-should-be-free ideology. Times are changing and people are becoming more comfortable with the subscription economy.
I've heard it said "knowledge is power". Power for what? Power to make an informed decision. Small to medium weeklies, dailies, and online reporting services:
- Are you struggling with an ad-only revenue model? It's time to let your community embrace your value directly. Find a paywall vendor here.
- Do you have a paid-content scenario in place, but fail to meet your subscription goals? Lack of public education on the value of local news plays a role in this. Ask yourself, "What will people lose if we are gone?". Tactfully communicate your value to your potential audience, and chances are more people will support you.
Thanks to Bloomberg for reporting on the study done by University of Notre Dame and the University of Illinois at Chicago. Start by sharing the following Bloomberg report with your potential subscribers. #NewsMatters