Another update by Joseph about Journalism! This post focuses on how Newspapers make money. You can expect an update about the family shortly after the Fourth of July!
In today’s day and age, many newspapers are struggling to stay afloat. Nonetheless, many manage to do so successfully. An important part of running a business, is making money! How do you think newspapers make money?
The first way newspapers make money is through subscription services, when people buy an online or hard-copy. Subscriptions usually entail consumers paying a monthly (or yearly) fee, in exchange for the delivery of the newspaper (either through hard-copy or an “e-version”).
The second (and most likely primary) way newspapers make money is through advertisements. In the Wall Street Journal, a full page black and white ad can cost up to $164,300! A color ad usually costs about $210,300! As you can see, for large newspapers, the majority of profit is made through those who want to advertise in a newspaper. As technology advances, many newspapers also provide online articles. Advertisement space on large newspaper websites is in nearly as large demand as broadsheet advertisements.
In conclusion, newspapers make money in two simple ways: Subscription services, and advertisements. Both are effective, and both are adapting to technological advancements.
My sources were:
http://www.gaebler.com/Newspaper-Advertising-Costs.htm
http://online.wsj.com/home-page
http://www.simplyzesty.com/news/social-media-save-newspapers/
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