Exploring new business models for news content

My interest was piqued by a Guardian piece about the latest announcement by US funding body the Knight Foundation,  which is offering $5.1 million for innovative approaches to publishing. A breath of fresh air in an industry mired by magazines closing down, and journalists being laid off.  It’s interesting to see that they have a specific focus on community journalism –  something that I imagine would infuriate the likes of Andrew Keen – it could be seen by some commentators as a gesture that posits citizen journalism as playing an even greater part on news gathering going forward.  Is this a good thing?  is is sustainable? If it does happen, how might we reconcile this with payment models? If I scoop a story for a national newspaper for instance I might decide that I want some money too. The shortlist of services being developed by mainstream media look promising – I look forward to seeing similar approaches being adopted in the UK as well.

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