The correlating challenges faced by the music industry and newspapers are incredibly similar – neither are new and both have been a looming problem. The suggested economic response models have been similar as well. The Business Week story The Music Industry’s New Internet Problem by Douglas MacMillan sums it up well while his video tells the story. MacMillian’s report demonstrates that pay walls and micro payments being suggested by Gordon Crovitz, Steve Brill and Leo Hindery, Jr. as they launch the e-commerce, Journalism Online, LLC, may not be the complete answer to the problems newspapers and other media are currently facing. The solution is still elusive and a true economic model that will satisfactorily meet the need of reporters, song writers and their newspapers or distributors to receive compensation for their work seems yet to be developed.

This entry was posted on Tuesday, June 9th, 2009 at 11:15 pm and is filed under Micropayments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.