As journalists, we make an implicit promise to inform our readers as best we can.
When we started out a few centuries ago, the way to do that was to print daily news articles on paper.
Not much has changed since. Sure, today we work online and use more pictures and video, but we’re still doing what we’ve always done: informing the public by publishing fresh articles every day. When something happens, we write a story. When something else happens, we write a new story.
News event? New story!
New developments? New story!
New responses? New story!
Until recently, one revenue model perfectly suited this cycle:
Fresh articles ⇧ → More eyeballs ⇧ → More ad dollars ⇧
But the ad-based earnings model is in trouble.
Instead, journalism is increasingly looking to reader revenue. The new model works as follows:
Informative publication ⇧ → Reader satisfaction ⇧ → Reader revenue ⇧
So it’s time to ask a rhetorical question.
Does the age-old practice of informing readers through a flood of successive news reports still make sense?
The answer, of course, is: No, not really.
Nowadays, when readers want to find specific information or learn about a topic in depth, they have to plow through loads of old articles and videos.
Then they have to take the latest story as the last word.
Why? Because:
Basically, we peddle today’s news while failing to put at readers’ disposal everything else that’s ever happened and been reported on. That means we aren’t informing the public as effectively as we could. So readers lose the thread of what’s happening, or grow cynical about a world that’s presented as a succession of unrelated incidents.
Either way, people stop paying, since we’re not delivering the promised service.
Early attempts to inform readers in smarter ways — Vox Cards, the old Circa app — often failed because they relied on ads and traffic.
But there have been successes. The queen of paywall revenue, The New York Times, has over 2 million digital-only subscribers. The Gray Lady employs its Beta team to find the best ways of using new storytelling forms to inform readers so they’ll stay happy subscribers. And it’s working.
So far, most thriving Beta projects focus on service content. For instance, the NYT Cooking app lets users browse, search and save the paper’s thousands of recipes. And its Wirecutter site shares consumer testing results in a highly usable, efficient format.
But the approach can work for hard news stories too. And in 2018, we’ll start to see how. Journalists will be doing more updating, personalizing, and improving of access to content — and we’ll be publishing less.
Ernst-Jan Pfauth is CEO of The Correspondent.
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