Media giant News Corporation Ltd intends to charge for all its news websites in a bid to lift revenues, as the transition towards online media permanently changes the advertising landscape.
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.
He said News Corp would use the Wall Street Journal’s online vehicle as a model.
Interestingly, I haven’t so much as looked at the WSJ site in years.
They succeed because they offer specialized data to specialists interested in markets. FOX News has no such “moat.” This will be an epic fail. Murdoch is an old fart, and thinks that simply by waving the old magic wand, he can make the internet generation pay for his product. The marketplace will crush him. However, this is going to do wonders for the likes of Mike Yon and all the other reader-supported journalists.