The alchemy of media funding

A couple of weekends ago at a farm in Dodgeville, I spoke with Isthmus editor Dean Robbins, Vivian Vahlberg (the first woman president of the National Press Club), and her husband, who works for the Tribune Company.

I asked them all what they think the solution to the maelstrom of media funding was and they responded with the same answer: "You!"

They agreed that there will always be a market for information, the issue is finding the right mix of funding streams (sorry to break into ASM-ese) to support the industry.

I think the New York Times is at the forefront of trying to accomplish this. Last week it issued a survey testing the idea of a $5/month online subscription fee (or $2.50 for print subscribers).

Today, Poynter Online informed me that NYT is also considering incorporating foundation sponsorships into its financial plan.

Craig Whitney, an assistant managing editor at the Times who serves as the paper's standards editor, said in a telephone interview Friday, "We've begun to ask ourselves whether it would be possible to get the kind of support that NPR does from foundations for its journalism."

...

"Don't make it sound as though we're going to do it," he cautioned, stressing that no decisions have yet been made. "But we have to think about whether we should do it or could do it, given economic conditions."

He said the paper has "no desire to become a nonprofit corporation."

There isn't one solution to keep journalism thriving, but hopefully media research like what NYT is doing will lead to an effective balance of funding.