Journalists always ask me that.
And I always answer that it’s one of the main reasons we’re building CrowdNe.ws: so that journalists get paid fairly for the work that they do. How else can quality journalism survive?
And then I break down the numbers for them. Usually I start with a small example, such as covering local news. But I had a meeting recently with a well-known public radio journalist who hosts a daily news program. I used that journalists’ numbers for our conversation.
Here’s the breakdown:
Let’s say that our host moves the show to CrowdNe.ws. Currently the program has a weekly audience of over 1.5 million.
If just 20% of the audience moves to CrowdNe.ws too, that’s an audience of 300,000. Per week.
And let’s say that audience values the show at a reasonable $1 per week.
That’s $300,000 of revenue. Per week.
After payment processing (Amazon or other) our journalist keeps about 70% of the revenue, and pays for production costs of the show.
Our host could clear $200,000. Per week.
So how about the numbers for local news?
Today I had conversation with a journalist who lives in a small town north of Boston with a population of 17,000. Those people feel underserved by the local paper. Could he make money on CrowdNews?
Let’s say of those 17,000 about half are interested in local politics, schools, development, and other local issues: 8,500.
And our local journalist writes a great, in-depth story about the planned downtown development and 20% of the interested population value that story at $0.50.
Again, after payment processing (Amazon or other) our journalist keeps about 70% of the revenue.
Our local journalist just earned almost $600. That’s a lot of money for a local story. Even half of that is a lot for a local story.
But here’s the real interesting thing about local on CrowdNe.ws. It’s really global. Because, while our journalist wrote a story about a development issue in a small town north of Boston. the city of Fresno, California, or Honolulu, Hawaii may be exploring a similar issue.
And our suddenly a small town article has a global (paying) audience.