A revenue reminder to start the summer
This summer, the Donald W. Reynolds Journalism Institute's Innovation in Focus web series will take a look at the startup and growing pains of a handful of news organizations' new efforts to raise revenue. Those efforts range from membership models and retooling ownership to new ventures and crowdfunding efforts. The Innovation in Focus summer revenue series starts later this month.
Before we launch into best practices, challenges and takeaways from these organizations in the coming weeks, it seems like now would be a good time to set the table to review some of the more standard revenue models that are already part of many organizations' multi-revenue stream portfolio.
These standard models in journalism are part of eight common revenue models, often taught in university business schools as ways to generate revenue. Paying attention to how they work, separately and together, has become an important skill for journalism as the industry continues to retool, redesign and seek ways to grow revenue strategies.