Reimagining the journalism marketplace – finding new ways to serve information consumers

American journalism today is in crisis because it has not adapted financially to digital media, yet I believe we could turn this crisis into an opportunity to make significant improvements in the industry. Journalists and entrepreneurs are searching for business models that would generate revenue to help support high-quality digital media. No matter what forms they take, the newly emerged media products always should be consumer oriented. That is, the products should either meet new, unsatisfied consumer demands, or help reduce the costs of existing products or services in the market. Specially designed online educational clubs could help provide a new and effective alternative for which many consumers would be willing to pay. There is great social value in these clubs that would help draw support from outside the journalism field as well. The project could be implemented in three steps.

First: Foreign Language Enhancement

Journalists should start by investigating ways to combine traditional studies of foreign language with news delivery to make the learning process more interesting and cost-effective. The project is meant to establish an online portal for interested consumers to learn about different cultures, languages, and international news of current relevance. This site could also be used as a complementary tool for international affairs, world geography, or other international fields of study. An emphasis on music, video, and other modern multi-media technologies would help make the learning process more interesting and diversified.

The goal at this stage is to attract paid institutional group subscriptions. These, in turn, may help attract individual and business subscriptions. Paying small fees for an online collection of existing news stories and documentations would likely help reduce the cost of labor-intensive teaching methods. In addition to accurate, in-depth, and up-to-date foreign news stories, current computer technologies would allow student consumers at different learning levels or with different career focuses to practice particular languages of their choice. The clubs also would focus on learning a language as a way to learn the values and wisdom of different cultures, to learn how other peoples make their decisions and live their lives, and to learn how they solve their problems. Therefore, these bilingual clubs potentially would provide attractive learning tools for many consumers.

Second: Global Inspiration

After the foreign language clubs are well-established at the first stage, the project would then be expanded to include clubs with a more general educational focus. These online learning clubs would offer users broad access to a large selection of cultural and professional content in English from the bilingual club archives, as well as from English language newspapers. The goal of the educational clubs is to help consumers benefit from understanding the problem-solving wisdom of other cultures, a skill that many bilingual or multilingual workers have, without having to learn a foreign language. Ideally, the realization of this goal would help save a great deal of effort in terms of time and money invested in foreign language studies.

News stories would target ordinary citizens with a high school education, rather than a highly specialized audience. Journalists are trained to simplify complicated incidents or concepts into interesting and fresh stories. This type of technique would be very helpful for attracting students who are not fully motivated by traditional academic teaching methods. Therefore, these learning clubs would likely possess strong market values since the clubs would help enrich consumers’ lives by providing inexpensive and diversified alternatives to improve their knowledge and job skills.

Journalists and editors managing these online clubs should be trained in both journalism and a specific academic field. Writers who have both interest and knowledge in a particular field will be more successful at finding and creating vivid news stories for consumers with similar interests.
One crucial step for this second stage would be to organize existing resources from the journalism field and to coordinate newspapers and freelance journalists to contribute content. Contributors would be compensated for the use of their articles. Ideally, the fees paid to journalists and newspapers by the clubs would help support and encourage high-quality journalism.

Third: Bridging the Gaps

At this stage, the website would bring together journalists, experts, and consumers, and provide a platform for exploring solutions to important issues. For example, the clubs might have been able to have organized ways to help Japan deal with the magnitude 9.0 earthquake and the following tsunami and nuclear crisis in March 2011. The clubs can help bridge the gap between local communities with specific information and international organizations that could provide support. Since the clubs would have access to local news about recent developments as well as to professionals who have specialized knowledge in various fields, they would be able to facilitate bringing together these resources.

Another interesting project would be to investigate how the learning clubs could best serve students who do not perform well with traditional theory-intensive learning methods, as well as adult workers who are transitioning careers. The goal would be to examine whether these online clubs can help organizations (for example, workforce training or adult education programs) to reduce costs by providing access to more efficient and up-to-date educational methods.

At this point, the function of the clubs would be to complement news organizations or investigative journalists to better attract government funding or grants from foundations, corporations, and communities.

Conclusion

Instead of trying to find an investor to fund the entire project, our plan is to break it down into three manageable stages and attract funding for each stage individually. At the end of each stage, there would be concrete benefits for users. To summarize these benefits, consumers would first gain access to better tools for learning foreign languages and cultures. During the second stage, people would be able to save money on expensive education and career training. Finally, communities would be able to search for experts who are interested and qualified to help with local problems or crises. This media product would benefit both consumers and journalists. The market is ripe for this kind of innovation. Yet, the most difficult part of the whole project may be getting the public to recognize its potential market value and social benefits.

For more information, please read my previous article entitled “A New Approach for Profitable Foreign News Reporting.” I always wish to find an opportunity to thank Prof. Dan Gillmor properly. I greatly appreciate his help and support regarding this project.

A new approach for profitable foreign news reporting

Editor’s note: The following is an abstract of an article by Ying Zhang: “A New Approach for Profitable Foreign News Reporting.”

Mainstream media struggle to adapt to the Internet, which provides specialized information tailored to people’s interests. We propose that traditional media rise to the challenge and meet this need by establishing online bilingual news clubs to fundamentally improve our current foreign language study system, to help U.S. businesses compete more effectively overseas, and to diminish international threats by improving intercultural understanding. The proposed online educational clubs would set a basic model for revenue-generating journalism in the modern digital age. The revenue streams would include paid individual subscriptions, school and business group subscriptions, targeted advertisements, government contracts, grants, and public donations.

How it works

Print media does not provide sufficient information on international events and online news from current international websites often do not reach their intended audience. With strong emphasis on music, videos, and other modern multimedia technologies, the new bilingual clubs will help subscribers learn about foreign news, languages, traditions, religions, cultures, and current events in a more comprehensive, coherent, and systematic approach.

The proposed online educational clubs will offer users broad access to a large selection of academic and job- related contents from the proposed bilingual news clubs and from domestic newspapers. These clubs contain mostly news stories that describe how people connect academic knowledge to their work and how they use different technologies, innovative methods, or approaches to advance their career and improve the quality of their lives. Many newspapers can benefit if they agree to license their contents to the clubs for a syndication fee.

What materials are used?

This article is based on a personal business idea, with useful inputs from a number of professionals serving as consultants. The proposed approach will effectively utilize the existing journalism skills to help add significant values to our society.

Method

The proposed online bilingual clubs can help improve foreign language study since they can be used as complementary tools to support current language-learning methodologies and help make the process more cost-effective, interesting, and efficient. One of the primary purposes of studying language is for us to learn the values and insights that other cultures have to offer. By learning how other people make their decisions and live their lives, we can also find new ways to solve existing problems. These bilingual clubs will provide an engaging and active forum for subscribers and the opportunity for lifelong learning about other languages and cultures.

Secondly, these bilingual clubs can provide easy and low-cost online consulting tools for both multinational corporations and small businesses to access different foreign markets and expand their enterprise overseas.  By creating collective opinions and voices on certain issues and documenting some common mistakes made from different companies, these bilingual clubs have the potential to help protect America’s business interests overseas.

Thirdly, the bilingual clubs would have a long-term positive impact to fight on terrorism. They can provide immediate feedback and opinions that help check and balance what Americans might have done wrong in other foreign nations, and reduce the hard feelings or hatred towards America among foreign societies.

Lastly, a network of online bilingual news clubs can produce a vast amount of interesting, accurate, and practical material. These contents can also be divided into different educational and industrial fields in order to attract potential subscribers who are looking for inexpensive and diversified ways to improve their education and job skills. A rich international collection of interesting and informative educational news stories from various types of media outlets will help inspire Americans to find more creative and productive directions in their education or career paths.

Results

The existence of these online clubs can help Americans realize their problems and weaknesses through the eyes of international observers. The clubs would help provide a platform where the grassroots journalism and watchdog functions can both grow by connecting journalists’ investigative and communicational expertise with consumers who share similar interests or backgrounds in the field. The proposed news clubs would help Americans learn many different cultures and help inspire Americans to find new approaches to solve existing problems more efficiently.

Implications

This model tries to make use of maximum revenue capacity, so that journalism companies may be able to choose particular revenue streams that best fit their ideology and core competence to obtain revenue from different sources. I wish to contribute this business idea to American journalists who have the necessary skill sets to maximize the potential benefits of these online news clubs.

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