As traditional journalism models continue to crumble, giants in the industry are scrambling to make up lost revenue. Now one of the biggest giants of all, Rupert Murdoch—owner of the New York Post and the Wall Street Journal, among other publications—is declaring the era of free online reading is coming to an end. Reports Business Spectator:
News Corp chairman Rupert Murdoch told analysts in a conference call after News Corp released its full-year results that the traditional newspaper business model has to change.
“The digital revolution has opened many new and inexpensive methods of distribution,” Mr Murdoch said.
“But it has not made content free. Accordingly we intend to charge for all our news websites,” he said.
The Wall Street Journal already charges users to read online content, but while the paper may seem like a good blueprint moving forward, there’s a catch. People are okay paying to read the WSJ online because it’s been that way since the beginning. Convincing readers to start paying for content they’ve traditionally received for free is a whole different ball game.