The following is the last part of a series of responses to the government inquiry into the future of local and regional media. We will be submitting the whole – along with blog comments – to the Culture, Media and Sport Committee. This post, by Alex Lockwood, looks at:
“How to fund quality local journalism”
The bottom has fallen out of the traditional publishing business model–and with it goes the hefty dividends expected by shareholders (e.g. £48.4m in 2008 for the Trinity Mirror Group). The future of local quality journalism can only remain with the current crop of regional newspaper publishers if they radically change their expectations, and innovate.
That might not happen. If it doesn’t, they will die off, and the future of quality local journalism will take a huge – but not definitive – blow. Then the future lies with new initiatives and the local communities themselves – passionate and entrepreneurial people, only some of whom will be journalists. What about local council initiatives to publish newspapers and local information? That’s not the way to go – covered in Part 3.
But how to fund it? Here are eight suggestions for the future of local journalism funding: Continue reading