From a world in which an entire generation knows only free information and content on the web, we now have Rupert Murdoch storming onto stage demanding that you pay for the content.
The question is, of course, will this business model work?
In short, my answer is “heck no”.
And why?
Because there will be too many people like myself, and millions of others, that will take the online content, find the best news and information relevant to their niche, and then retell the news with their own stories, opinions, and insights.
So I guess that leaves online publishers maybe paying for content, and that would probably be determined by the value of the source. But to expect the general population to start paying for content, especially with so many free news and information sources availabe, is quick extraordinary.
I’m not the only one who thinks Rupert Murdoch is crazy in thinking he can charge for online content. Google’s CEO Eric Schmidt thinks he is way off track as well:
in general these models have not worked for general public consumption because there are enough free sources that the marginal value of paying is not justified based on the incremental value of quantity.” (via Reuters.com)
He continues:
“So my guess is for niche and specialist markets … it will be possible to do it but I think it is unlikely that you will be able to do it for all news.”
Ultimately, there are too many free news sources out there to make people in mass think it’s worth their money to buy or subscribe to news content.