SoloJourno

Is the end of ad-supported “free” online news upon us? A new venture called [url-http://www.journalismonline.com/]Journalism Online[/url] believes that online news needs to start charging subscription fees, and it wants to be the one-stop subscription site that makes it all possible. Backed by some heavy hitters, the company could reshape the online news ecosystem.

The Internet is quickly destroying the need for newspapers to run printing presses, distribute papers around the city, and employ newspaper carriers, but the cost savings have come with revenue losses, too: most newspapers offer their online content without subscription fees, supported only by ads. A group of media executives has just announced Journalism Online, a new way for newspapers to start charging for online subscription fees. Will it save journalism?

“We have formed Journalism Online, because we think this is a special moment in time when there is an urgent need for a business model that allows quality journalism to be the beneficiary of the Internet’s efficient delivery mechanism rather than its victim,” said cofounder Steven Brill. “We believe we have developed a strategy and a set of services that will establish that model by restoring a stream of circulation revenue to supplement advertising revenue, while taking advantage of the savings to be gained from producing and delivering content electronically.”

Read the full article. Note: some of the comments are really quite amusing. From the Journalism Online site:

Media Leaders Form Journalism Online, LLC

Company Will Be Global Platform for Easy Payment Option Enabling New Revenue Models For News In Time of Crisis

April 14, 2009 – Citing “the urgent need” for a comprehensive, immediate plan to address the downward spiral in the business of publishing original, quality journalism, experienced journalism and media industry executives Steven Brill, Gordon Crovitz, and Leo Hindery today announced the formation of Journalism Online, a company that will quickly facilitate the ability of newspaper, magazine and online publishers to realize revenue from the digital distribution of the original journalism they produce.

“We have formed Journalism Online because we think this is a special moment in time when there is an urgent need for a business model that allows quality journalism to be the beneficiary of the Internet’s efficient delivery mechanism rather than its victim,” said co-founder Steven Brill. “We believe we have developed a strategy and a set of services that will establish that model by restoring a stream of circulation revenue to supplement advertising revenue, while taking advantage of the savings to be gained from producing and delivering content electronically.”

Click here to read the full press release and bios of the founders.